Have you received jewelry recently?

What did your Valentine give you for Valentine’s Day? Chocolate? Flowers? That diamond bracelet you’ve been eyeing for a few months? An engagement ring?
Any of these gifts would be wonderful to receive, but from an insurance point of view the jewelry requires more than just showing off. It must be properly insured. And many times your Oklahoma Home Insurance will not be enough coverage.
What can you? Notify your insurance agent of your recent purchase or gift and have them endorse your policy to the appropriate coverage. Typical Oklahoma Homeowners policies only cover $1000 to $2000 in jewelry. Total. Not each piece, but all your jewelry.
If you haven’t told your insurance agent about your jewelry and it’s stolen, the most you can get back is $2000. You may even get back less depending on the insurance company’s guidelines for unlisted jewelry. Now if your homeowner’s policy had an endorsement listing out all your jewelry and each piece’s value, the insurance company can either look for a replacement or give you a check. Which scenario would you prefer to be in?
So thank your Valentine for your jewelry and add it to your insurance policy!

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2 thoughts on “Have you received jewelry recently?

  1. Pingback: Dear Oklahoma Insurance Agent… « RCI Insurance Group Blog

    • Check your with your insurance agent. Depending on the value of the necklace, it may be covered. But to be safe, talk to your agent. They know your policy (or at least they should) and will know the best way to have your new necklace insured!

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