Diamonds Are a Girl’s Best Friend

Wedding rings and engagement rings can cost a pretty penny, but what happens if they get lost or stolen? Your homeowner’s policy actually allows you to schedule jewelry in case of this situation. Depending on the company insuring your home, you may or may not have to pay a deductible in order to receive payment for the lost or stolen ring. Other considerations are how much one particular piece is worth, how much the amount of all the pieces are worth, and how recently you have had these items appraised. An appraisal is a useful tool when scheduling your jewelry on an insurance policy, and most insurance companies require your agent to maintain a copy of the appraisal in their files in order to prove the value at the time of a loss. The only time an appraisal may not work out in your favor is if it was done more than five years ago, since the price of gold and other precious metals often change. Policies through different insurance companies may have their own specific limits and procedures, so it is wise to check with your agent at Marks Insurance in Tallahassee to make sure everything is done correctly to meet your coverage needs.