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More information about Jewelry insurance
In addition to paintings, antiques and valuable crockery jewelry is a family treasure in most households. In many cases, the jewelry is inherited over generations, and in addition to the material, above all, has a high ideal value for its owners. A normal household insurance is often not enough to insure the jewelry according to its actual value.
Most major insurance companies have special jewelry insurance in their portfolio. It is important that the jewelry is initially appreciated. For this purpose, the insurance company usually sends an expert who, in addition to the pure material value, also estimates the age and artistic value of the pieces and, accordingly, estimates the value of the jewelery. The strongly fluctuating prices for precious metals and precious stones as well as the incessant rise of prices especially for precious metals make it reasonable to have such an estimate repeated at regular intervals.
Since the costs for the restoration of damaged jewelry can be quite high, but antique jewelry can have a high sales value, a jewelry insurance worth a certain value of the pieces quite well. Similar to a piece of art insurance, jewelery also assumes that starting at a value of about € 50,000 per piece or per collection, it is advisable to take out the appropriate jewelry insurance, which replaces the value of the pieces, while a household insurance usually only for the material value.