There is quite a bit of variation in the way different insurance companies deal with jewelry. A standard Maine homeowners insurance policy may provide some coverage for personal possessions such as jewelry, but are you sure that you will be adequately protected if your jewelry is damaged or lost? 

The terms and conditions of your homeowners’ insurance policy set out what is covered and what is excluded. It’s important to understand exactly what protection you have, so read the terms of your policy and consider questions like these:

1. Is coverage for replacement or cash value? Although actual cash value coverage for jewelry is more affordable, if you need to file a claim, replacement cost coverage provides better protection.

2. What are the limits of coverage per item and in total? You may need additional protection if you have some valuable items of jewelry.

3. Is jewelry covered when you are away from home as well as at home and when you are on vacation or traveling for business? You may need additional coverage for off-premises loss of jewelry.

Talk to your agent or insurer if you are uncertain whether you have adequate coverage for your jewelry. Your agent or insurer will be happy to discuss your needs and help you to decide how your standard Maine homeowners insurance coverage may be adjusted to provide additional protection for your jewelry.