Protect Your Memories with Jewelry Insurance Services

It has been a wild couple of years lately when it comes to freak acts of nature. Between the super storm Sandy that devastated the Northeast to the tornadoes that literally wiped out towns in Oklahoma to the brush fires that decimated hundreds of miles in Colorado, it seems like there is no telling what might happen next. It makes you realize that you need to find a way to protect yourself and your assets, because you just never know what is around the corner. Trust me, I speak from first-hand experience. I moved to Key West in 2005, the same year the four named hurricanes passed close enough by us to have devastating effects on our tiny island. Wilma, the last storm of that year, was the worst. The storm surge that it produced left almost eighty percent of the island underwater. Some people lost everything, even things that they never thought they might, like some of their fine jewelry. That is why it is imperative that when you are buying any piece of affordable jewelry, you look into jewelry insurance services.

Part of the experience I got from living down here through those storms is that tradition insurance companies will try to do whatever they can to pay you as little as possible. They may all run commercials showing how quickly they respond to some natural disaster, but the truth is their concern in protecting the investments of their shareholders and not their policy holders. I had many friends who thought they had most of the belongings protected only to hear many variations of the word "no". In some cases the policies didn't pay out because the damage was caused by flood. Sometimes the claim was denied because there wasn't absolute proof of what was covered. (Granted it was hard to have that proof when you lost all your paperwork in the same flood that took everything else.) Finally in a lot of cases the payment that they did get reflected the value of the lost items as they were now, and not what they would cost to replace them. Jewelry insurance services do not work like that.

First of all, the professional jewelers who offer these services know that you are their biggest priority. They are not concerned about making sure that some shareholder gets a dividend every quarter. What they are concerned about is keeping their relationship with you intact. You have trusted them to provide you that special piece of fine jewelry, whether it was an engagement ring or a birthday necklace, and they want to prove that they deserve that trust. Because you bought the jewelry and the jewelry insurance services from them, you have the safety of knowing that they have the same paperwork that you have, to prove exactly what it is that you had lost (or stolen and damaged.) The extra advantage of that paperwork is that they can use it to estimate the exact value of that piece of affordable jewelry now, and not when you bought it. This will enable you to replace it precisely. When you look at all of those factors, choosing from a selection of jewelry insurance services is the right thing to do.

Julia Lockhart is a writer with a penchant for wedding bands. She prides herself in providing readers with the knowledge of Jewelry Insurance Services that helps to make smart and informed purchases when it comes to buying Jewelry. Rate this Article

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Julia Lockhart has published 5 articles. Article submitted on July 05, 2013. Word count: 537

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Jewelry Insurance Services - Protecting Your Investment

Jewelry insurance services are a fantastic way to protect your investments. You may not have thought about taking out a policy on the items in your jewelry box. However, they will certainly be the first items stolen during a break in. Consider how much time went into picking out the perfect engagement ring, wedding and anniversary bands. Cost aside, the expense in time is worth insuring on it's own! Whether, your jewelry pieces end up being lost, stolen, or damaged having an insurance policy will take the edge off of your loss.

Fine jewelry is an item that is unlike many others that you have in your home. It's a very personal investment, most likely filled with a great deal of sentiment. However, many consumers forget that what lies in their personal safe, jewelry box or on their finger is actually an investment that can gain value over the years. When you buy a shimmering big ticket item you should inquire with your jeweler about a policy. If you bought a certified diamond, then insuring your piece will be far easier than you might have thought. Buying certified really does help, as the paperwork already has a detailed description or evaluation of your diamond. Qualified jewelers should be there for you every step of the way and for the life of the piece that you have meticulously selected. From the sale of it to cleaning, maintenance and repairs, they should be present throughout the years.

To have your shimmering investments protected you must have them appraised. This appraisal will provide the company underwriting your policy with all the pertinent details and the current value of your items. Gold and diamond prices have been on the rise in recent years, which makes the ring you might have purchased a few years ago, more valuable in today's current market. This will make a replacement ring more expensive, should yours be lost, stolen or damaged. Many fine jewelers advise that you have your collection appraised and the policy adjusted every couple years. This will track the value of your purchase as it grows over time. After all, wouldn't it be insult to injury to lose a ring and then have to buy a smaller one to replace it because the market price hadn't been evaluated in several years? All major investments from your home to your car, to your health require maintenance from time to time and policies to protect them.

During the appraisal of your collection, all elements of each piece you will be insuring will be examine. This means that your diamonds and gemstones will have documentation as well as the metals that have been used in their settings. Each aspect will not only be examined but they will be meticulously weighed. In addition, each of these elements will be calculated to the current market value. Your preferred full service jeweler will be able to advise you on the jewelry insurance services that are available to you. If you purchased your jewelry online, then there are many listings for such services that have been evaluated by the Better Business Bureau. Protecting your investments is a part of life. Your jewelry shouldn't be any different as it celebrates the most irreplaceable moments in your life.

Jash Adams is a freelance writer specializing in a variety of consumer education topics, including the informed selection of buying jewelry, Jewelry insurance services and jewelry insurance in Greensboro NC. Rate this Article

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Jash Adams has published 1 article. Article submitted on July 01, 2013. Word count: 540

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The Q's and A's of Jewelry Financial Services

Here are just a few of the most common questions asked about Jewelry Financial Services:

Q: I just started a job and don't have a lot of money saved but I'm getting married. How can I get my fiance the ring she wants?

A: Using jewelry financing services can be an easy option with several plans available, provided your credit rating is adequate.

Q: I'm in the military and don't have a long established credit history report. Will I qualify to finance an engagement ring?

A: Banks and jewelers want to work with active military personnel and it should be a simple transaction.

Q: What are my options to avoid paying interest?

A: Many financing programs allow for a "free" introductory option. This can range on the program but can be several months to 6 months. If the loan is paid off within this time frame, then no interest is paid.

Q: Am I taking a loan out from the jeweler?

A: No, the banks are represented in this part of the process. The jeweler sells you the ring and they are paid from the bank. Your loan is with the bank and the bank name will appear on your contract.

Q: Should I read the fine print in the contract?

A: The fine print will contain very valuable information on all aspects of your transaction. It will include variable interest changes and all terms that pertain to how much money you will pay for the ring for the duration of the loan.

Q: What is the typical interest rate for jewelry financing services?

A: The range greatly varies from 5%-30%. It depends on the financial institution that is brokering your loan.

Q: What should I do if like a ring at a particular jewelry store but the interest rate is really high?

A: It's a good idea to shop around to see if a comparable ring can be found at another jewelry store. The jewelry store doesn't determine the interest rate but shopping around is always a good business decision.

Q: I found a ring at jewelry store that I love but they don't offer financing. I found it for $1,000 less at a competitor and they offer financing. Is this a better deal?

A: If you can go without the financing that's the best deal. You will pay more with the financing option in the long run than just paying the extra $1,000 up front.