Do you Think Insuring Jewelry is Worth?

A few days back I went to a jewelry shop to purchase a small gift for a friend of mine. I was surprised to see the price of gold, and I just remembered when I purchased the jewelry last time. I thought it was August 2008, when I last purchased the gold jewelry for my sister and today after a gap of around two years I am seeing a growth of around 50% in the price of the Gold.

This rapid increase is a clear indication why people are keener about purchasing jewelry. These days both men and women are increasingly purchasing jewelry. Jewelry is not a feminine affair these days. Even men are having affection towards it these days. During the recession time the real estate sector goes down badly, and hence the investment for gold got huge popularity.

As you know gold jewelry is quite valuable, hence, you should need to think about insuring it too. Although if you have your house insurance, but still your gold items may not be included in that plan. Also normally the amount covered by the insurance companies is not the full value of the lost jewelry.

Another big concern with jewelry insurance is that insurance company might not cover the jewelry if it is stolen. Sometimes, burglary might happen to your home and the loss of jewelry in these types of incident might not be covered by the insurance providers.

As you know that the loss of gold jewelry is really difficult to handle, so we should remain prepare to tackle the worst situation in life. Before opting for jewelry insurance you should do a bit of research on it. Also if you have the home insurance policy then you should consult your insurance agent weather your home insurance will cover your gold jewelry properly or not? If not, then you might need to purchase some specialized jewelry insurance plan.

Before signing the jewelry insurance plan, you should need to go through the policy carefully. Sometimes the insurance company adds the clause that they will need the valuation certificate before paying the claims. So it is very much required that you should understand what sort of documentation you need and what are things which are exactly covered under this plan.

Thus in my views if you have the proper knowledge of all the clauses of your jewelry insurance plan then it is really worth to purchase an insurance plan for your jewelry. Also be careful to see weather the insurance of your gold jewelry against theft outside your home is included in the policy or not. It is a must for jewelry insurance plan.