by Sarah Carter on September 2, 2010
Jewelry insurance comes in a number of different forms, so for specific and accurate advice on cover you need to consult an insurance agent. It’s a good idea however, to have some knowledge of jewelry insurance to give you an idea how it works and what questions to ask. Find out the information you need before insuring, as oppose to after making a claim.
To understand insurance for jewelry, you need to know the difference between scheduled property and unscheduled property.
Unscheduled property (jewelry not listed specifically) is often included in basic renter’s or homeowners policies. This cover usually doesn’t need an appraisal, but it’s a good idea to keep receipts and photos to prove ownership and value.
Scheduled property (jewelry is listed specifically) is usually included in a rider, endorsement or floater to the home owner or renters policies. Insurance for jewelry can also be obtained by a separate policy from a jewelry insurance company. In the case of scheduled property, an appraisal is needed as it describes the item of jewelry and gives the ‘insured value’.
If you file an insurance claim, the settlement process and amount paid will depend on the policy and in particular, if the policy allows replacement or agreed value settlement. For agreed value policies, the settlement amount is stated in the policy whereas replacement value allows the insurance company to replace your jewelry or make a cash settlement based on the insurance company’s cost to replace your item. The insurance company’s liability ceiling is set at the “insured value” on the appraisal.
Do I have enough jewelry insurance cover? This depends on the type of policy you have. If you have a piece of jewelry valued greater than about $1500, you need to consider scheduled insurance cover.
The critical issue for scheduled property coverage is the how accurate is the information on the appraisal.
The information on the appraisal should not be vague or the insurance company could replace an item of jewelry with one of less value and quality. Make sure that the appraisal is detailed and accurate.
If the appraisal value is too high, you might not be covered for that amount. This could be the case if you paid too much for the item at a jewelry store, and they provided an insurance appraisal which was too high. The appraisal value doesn’t need to be higher than 1.5 times the price of the item at an inexpensive online retailer.
If the appraisal value is lower than it needs to be, the jewelry insurance company may give a settlement lower than the price of replacing the jewelry item. This is a possibility if the item was purchased at a low price a few years ago. Appraisals can rapidly become outdated, and they need to be updated after a few years.
Visit Sarah Carter’s site to find out more information on jewelry, particularly choosing a wedding ring and also wedding ring sets.
by Joshua Lopez on September 2, 2010
It’s so cool to go on an adventure like white water rafting in Costa Rica and such adventures are worth the risk. Many of the annoying travel setbacks encountered today like missing the start of you much awaited rafting journey or shelling out a sack money only to go down the drain due to a canceled Costa Rica flight thanks to some engine trouble can now easily be dodged. The answer on how to avoid these misadventures and obtain peace of mind is through spending just a little bit more.
With adventure travel skyrocketing, the standards have been redefined on what today’s adventurous spirits need to master beyond simply knowing about lightweight hiking shoes or capilene fabrics they use. Travel insurance is one the things they have to deal with. The considerable figures on the price tag attached to the travel insurance whether it be for a cool water rafting down the Zambezi or an inn to inn exhilaration bike trip in the pleasant countryside of Vermont only shoulders coverage if it is the outfitter who is proven guilty for the accident.
That’s dependent though on whether the outfitter has liability insurance or not. Some people do not when this is the first thing a backpacker should learn about before plunging head on into an adventure trip. When the outfitter is insane enough to not possess any liability insurance and then disaster strikes, then the client can bid goodbye to his cash as he is left with the tab. When a medical emergency arises, the traveler’s own health insurance policy will be the one that will cover for him and just one call to his provider will get him all the details that are needed for his health requirements.
But the procedure is that if the patient needs the medical attention but is abroad, he has to pay up front first for his medical needs and wait for his reimbursement when he gets back home. All mishaps that happen prior to, after or while the trip happens is all on the traveler’s shoulders, and such encompasses of a missed plane flight, losing luggage and possessions, or even the cancellation of the trip after a ripped ankle ligament resulting from an overly ambitious workout to prepare for the adventure travel.
The remedy for this unexpected malaise in trip is travel insurance. Today, even as anathema is something that best describes travel insurance when pitted against most outdoor adventurers, as defined with its degree of danger, this is still the best and cheapest guarantee for their welfare. Not being protected first with insurance before you travel is as silly as going without a paddle to go rafting in the Grand Canyon.
There are tons of travel firms that have this slew of policies and commonly sell them easily by their persistent agents. This one travel company offers a mountain travel plan through their customized passenger travel protection program plan and this entails the traveler to shell out and additional $189 for any journey that can cost up to $3,500. It covers the traveler on the following. A few perks of travel insurance covers the following $20,000 if there occurs and emergency evacuation via helicopter or aircraft, $ 200 for any trip delays plus refunding all the necessary expenses when a trip is canceled or delayed. More than the aforementioned perks, the traveler also gets a sum of $3,000 for sickness medical expenses, the same amount for accident medical coverage, a throw in of $200 to vouch for any incidental expenses if the employees in the airline temporarily misplaces the traveler’s baggage and last but not the least he will also receive an amount of $1,000 for any lost suitcases.
You can get the best travel insurance information by visiting this website. Read this site if you want travel insurance specialists information.