{"id":166,"date":"2014-02-20T18:25:13","date_gmt":"2014-02-20T23:25:13","guid":{"rendered":"http:\/\/artinsurancenow.com.s114801.gridserver.com\/blog\/?p=166"},"modified":"2018-04-13T16:54:00","modified_gmt":"2018-04-13T20:54:00","slug":"jewelry-homeowners-policy","status":"publish","type":"post","link":"https:\/\/www.artinsurancenow.com\/blog\/jewelry-homeowners-policy\/","title":{"rendered":"Keep Jewelry OFF Homeowners Policy"},"content":{"rendered":"

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Keep Jewelry
\n<\/span>OFF<\/span>
\nHomeowner’s Policy<\/span><\/a><\/p>\n<\/td>\n

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\"art<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n

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If jewelry is on HO<\/span><\/b><\/td>\n\n

\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n

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  • The <\/span><\/strong>impact<\/span><\/b><\/em> of a jewelry claim is serious!<\/span><\/strong><\/li>\n
  • Jewelry loss counts as HO loss.<\/span><\/li>\n
  • Jewelry losses hit CLUE and PILR reports.<\/span><\/li>\n
  • Client loses homeowners’ “claim free” rating.<\/span><\/li>\n
  • HO policy is difficult to re-market after a loss.<\/span><\/li>\n
  • “Mysterious disappearance” claims, in particular, are red flags.<\/span><\/li>\n<\/ul>\n

    Other disadvantages<\/span><\/i><\/p>\n

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    • HO policies have capacity limitations.<\/span><\/li>\n
    • Many HO carriers will not cover higher-value jewelry.<\/span><\/li>\n
    • HO policies will not list non-family members with “insurable interest.”<\/span><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n
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NOTE:
\n70% OF PERSONAL PROPERTY
\nTHEFT LOSSES ARE
\nJEWELRY<\/span><\/b><\/p>\n<\/td>\n<\/tr>\n

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Standalone policy is better
\n<\/span><\/span><\/b><\/td>\n		\n

\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n

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  • Higher limits<\/span><\/li>\n
  • Higher value per piece – expensive jewelry not excluded.<\/span><\/li>\n
  • New appraisal not needed<\/span><\/li>\n<\/ul>\n

    We accept any reasonable appraisal
    \n<\/span><\/p>\n

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    • Co-insured (for example, fianc\u00e9) can be listed.<\/span><\/li>\n
    • Illustrated scheduled shows (as well as describes) insured jewelry.<\/span><\/li>\n
    • Highly competitive rates<\/span><\/li>\n
    • Discounts available for <\/span>\n
        \n
      • good appraisals<\/span><\/li>\n
      • home alarm system<\/span><\/li>\n
      • in-safe storage when jewelry isn’t being worn<\/span><\/li>\n<\/ul>\n<\/li>\n
      • Jewelry claims do not impact homeowner coverage.<\/span><\/li>\n<\/ul>\n

        \u00a0<\/span><\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n

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Theft, Fire, Mysterious<\/i><\/b><\/span> disappearance, Burglary, chips, broken and many other coverages can be included on a stand-alone jewelry policy<\/a><\/td>\n\n

\u00a0<\/span><\/p>\n

\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n

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