There is no doubt that the holiday season is a popular time to engaged ?. And your new ring is beautiful and signals your newly engaged status. But have you ever thought you would ifthe ring was stolen, lost or damaged?
insurance and tenants of the most classic owners only cover jewelry for a specific amount. This amount is known as a sub-limit, apply to high value items that are targets for theft. At Erie Insurance, the sub-limit for lost or stolen jewelry is $ 3,000. This sub-limit for any piece of jewelery lost or stolen, and the total amount of all lost and stolen jewelry.
With the average engagement ring costs around $ 00, many couples wisely decide to individually provide their engagement rings. This is known as "scheduling" a ring.
"When planning a piece of jewelry as an engagement ring, your ring is subjected to ERIE sub-limit of $ 3,000 for jewelry," says Terry McConnell, Vice President, Personal Lines Underwriting at Erie Insurance. "special mention you can buy to ensure its true value, so you're covered if the ring is lost or stolen. You can save money on your premium by appointing a franchise or you can choose to have no deductible. "Your insurance agent can help you with that.
Ensure your ring for good value
always save the receipt for your ring and all the feedback you did on it. They can both give you an idea of how you should make your ring.
I do not know if you should get an evaluation? Fortunately, there is a basic rule to decide .
"A general guideline is that if the jewelry is less than $ 7,000 and / or later than seven years, no evaluation is needed," said McConnell.
questions keep in mind is that the rings-especially those that contain gold or diamonds, usually appreciate in value over time. for this reason it is a good idea to get your ring re-evaluated periodically to ensure that you ensure the right amount.
McConnell also recommends getting your ring cleaned and inspected on a regular basis. "The loss of a ring or a stone of creation is more common than a stolen ring," he explains. "Many times, which can be avoided by having your ring properly cleaned and inspected. A professional can tell if the teeth are more loose and solve the problem."
Getting the right cover
Your jewelry store can offer to ensure your ring. If they do, they most likely will be the sale of a policy held by a small business. Your jeweler is not an insurance professional, so he or she may not be able to accurately answer questions on the cover. For specific answers about your ring insurance, it's a good idea to talk to an insurance professional as an Erie Insurance agent in your community.
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