Jewelry/Valuable Items Insurance in Colorado

Have you ever thought about the items you would carry with you to safety in case of a fire or an earthquake? Perhaps you have family heirlooms carried down from generation to generation and are absolutely irreplaceable and priceless? If yes, then you must get valuable item insurance in Colorado to ensure that your priceless items are covered for damage. 

Like any other place in America, Colorado has its fair share of natural disasters such as tornadoes, winter storms, wildfires, etc. This means that losing or damaging your valuable items is quite possible.



Homeowners' insurance does provide coverage for personal belongings. However, it has a limit of about $1000, and if your valuables are of more value, you will need to pay the extra amount needed for repairs from your pocket. Similarly, in case your valuables are stolen, you will not get the deserved compensation for your loss and will only receive a fraction of their value. 

Continue reading to know about the coverage valuable items insurance in Colorado offers.

What is Valuable Items Insurance?

Everyone has certain personal belongings that have some value. It could be jewelry, antique pieces, coins, wine, or even art. Since these valuable items are irreplaceable and also quite expensive, insurance companies offer coverage against damage or loss. 

This is where valuable items insurance comes in. 

This is an additional converge for valuables that are only covered in homeowners insurance up to a specific limit. People get coverage for fur, collectibles, art pieces, antiques, jewelry, etc. It is an excellent way to ensure that you are reimbursed for your loss in case your items are misplaced or stolen. Furthermore, it saves you from carrying the financial burden for repair in case of damage. 

What Does Valuable Item Insurance Cover in Colorado?

At times, we do not even realize the valuables and irreplaceable items we possess. Colorado jewelry or valuable item insurance provides coverage for different kinds of things. People get all sorts of things insured, and you can also spend some time with your personal belongings and consider which item you think can never be replaced or holds a lot of value.

Following are some of the items that people get insured:

•  Jewelry
• Engagement rings
• Stamp collection
• Coins
• Antique
• Fine arts
• Silverware
• Trophies
• Bicycle
• Sound recorder equipment
• Musical instruments
• Wedding gifts
• Camera
• Fur
• Guns
• Garden tractors

Basically, people insure a variety of things that they consider valuable. Your insurer can provide you with up to $10,000 in coverage, depending on the value of your items. Additionally, your insurer will offer you coverage in case your item gets lost, stolen, or damaged from the many perils that surround us. Many policies also provide coverage in case of daily wear damage, such as stones falling out of a ring.

In addition to this, valuable item insurance offers the following coverage:

All-risk Coverage - It provides cover for multiple risks and has no deductibles. It has certain limitations but is better than personal property coverage, which is a part of homeowners’ insurance.

Worldwide Coverage - There are times when you have to carry your valuables while you travel. This plan ensures that your items are well protected, and you need not worry about loss, theft, or damage to your items in any part of the world.

Mysterious Disappearances - It is pretty common to lose small pieces of jewelry or valuable items. If this happens to you, do not worry if you are insured because your valuable items insurance in Colorado provides you coverage for items you may have misplaced.

Blanket or Scheduled Items - These are two different types of coverage you can get for your valuable items. You can choose blanket coverage and your items as a whole, or you can get scheduled coverage and insure each item in your collection individually.

Breakage or Damage - Your valuable items are covered in case of damage through fire or smoke.

Spoilage - Antiques or art pieces have a chance of getting damaged in certain spaces where the temperature isn’t controlled. Furthermore, your item may get damaged due to humidity as well. In such a case, coverage for spoilage is provided. 

Newly Acquired - This covers the new items you add to your collection.

Natural Disasters - As mentioned before, Colorado is likely to face multiple natural disasters annually, such as tornadoes, winter storms, etc. Valuable items insurance ensures that your valuable items are covered for such situations, and you do not have to worry about damage to your valuable items or the financial crunch that might follow in its repair or replacement. 

How to Get Valuable Items Insurance in Colorado?

If you think you have some valuables that require insurance, then you have to go through the following procedure:

1. Firstly, it is essential to review your homeowners' insurance and see whether valuables are covered in the policy and to what extent.
2. Determine the value of your valuables so that you can get coverage for the right amount. You must find out the value according to the current value in dollars. Typically, you get coverage of $10,000 per item. However, you can get additional coverage if required.
3. Similarly, in the case of electronics, you must determine the value and insure them according to their current value.   
4. After you have identified the items you want to insure and determined their value, you should contact an insurance advisor who will help you compare the cost of valuable items insurance in Colorado.

It is essential to determine the value because that is a significant factor affecting the cost of your valuable item insurance. 

Conclusion

There could be something special among your belongings with a certain monetary value. Repairing or replacing such valuable items can be pretty heavy on the pocket. This is why it is necessary to get your personal valuables insured so that you get coverage in case of loss, theft, or damage.

Badger Insurance Advisors can provide excellent advice to ensure you get the right coverage that your valuable items deserve. Their experienced and competent staff of advisors will help you determine your item's value and ensure you get your money’s worth.

Get in touch today and get the best advice for buying valuable items insurance in Colorado.