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Insurance Tailors top ten tips to protect your engagement ring this Valentine’s Day
Diamonds are forever, that is unless they get lost, damaged or stolen, and astonishing quantities fall foul to this unfortunate fate each year. Specialist insurance broker, Insurance Tailors, offers its top ten tips to help protect your new asset.
• Add the jewellery to your home insurance, it’s usually more competitive than individual ring insurance policies
• Review your home insurance to ensure it provides sufficient cover
• Ensure the engagement ring is covered for all risks worldwide
• Include accidental damage
• Confirm you have sufficient value to replace it on a like for like basis - this is particularly essential if you have a unique or specially designed piece of jewellery
• If there are restrictions on the policy ensure you adhere to them
• Have regular up-to-date professional valuations from an accredited valuer
• Photograph the ring and keep all receipts and records in a safe place
• Watch out for any speciality clauses such as “personal custody” which can mean that the ring is only insured when it is physically carried or worn by the insured, or alternatively kept securely in a safe
• Use an insurance broker to make sure you understand your reasonability as set out in the terms and conditions
Insurance Tailors is a specialist high net worth insurance broker based in London. It services private clients by providing tailored protection for those that care about their assets.
See full article here: http://www.insurancetailors.com/