jewelry insurance

Buying a jewel is not a simple decision. There are thousands of options with prices that can vary from R$100,00 to over a million! Investment in jewelry is a personal investment.

For those who need to protect these valuable assets, jewelry insurance is already a reality for several people who have a beautiful collection of pieces and need to protect them somehow, even more so if they don't want to keep them in a bank.

Why take out jewelry insurance?

Unfortunately, the increase in the rate of thefts and jewelry thefts is nothing new. The growth of occurrences in the sector, frequently reported by the media, occurs for several reasons. The fact is that jewelry and gems are attractive due to their high added value.

Insuring jewelry through a homeowner's insurance policy isn't always the best choice. Residential policies protect damage to the building and its contents, and jewelry is typically excluded. Coverages that include jewelry protection only insure the pieces kept inside a safe. But there are insurers that offer specific insurance for jewelry, with policies that ensure coverage against theft or aggravated theft, including for pieces in use. In the event of an accident, the owner is entitled to have the part replaced.

Taking out insurance for your jewelry guarantees the perpetuation of your wealth. The protection given by specific insurance is essential. But before hiring, it's important to have all your jewelry appraised by an independent appraiser. Make sure each item is listed, described, and rated on paper.

Insurance is for few!

Jewelry insurance still has a special feature in Brazil: it is made for large buyers and is usually associated with another type of insurance. On the other hand, in the United States and Europe it is already very common to sell jewelry insurance and anyone can buy it.

And the main problem to acquire insurance for jewelry in our country lives exactly there: it is very expensive, really, because it is associated precisely with large jewelry buyers, not with you who have a few pieces at home. Normally, for those who are not businessmen or collectors, for example, they offer simpler packages with higher prices.

How to choose the best insurance?

Compare insurance plan prices as well as each company's reputation and choose the one that gives you the most coverage for your money and the most flexibility if you have to replace jewelry. It is important that insurance guarantees full receipt of the value of the jewel.

A specific policy for jewelry will cost around 5% of the value of the piece and will be valid for one year. You can check with your home insurance company, the manager of your bank or other financial institution for the extent of your home protection, including valuable jewelry, or to take out independent insurance. Some jewelry stores already include insurance when purchasing.

Thinking of protecting a special item? Have you ever thought about taking out insurance for that jewel you have stored there? Tell us about your experience.

Take the opportunity to download one of our e-books with exclusive tips!