Priceless treasures passed down through generations. Cherished gifts from loved ones for special occasions. Whether it’s your grandmother’s Mikimoto pearls from the 1960s or a diamond necklace and earrings set from your spouse on your silver anniversary, feeling confident that your precious items are safe at home is important. Here are some ways to help make sure your jewelry is protected.
1. Keep an inventory
If you have a significant jewelry collection, it could be hard to remember every piece you own in the event of a fire or theft. Be sure to keep your receipts and take photos of the receipts, storing electronic copies securely online. Photograph each piece (including photos of you wearing each item) and store the photos on a secure photo site. Record pertinent details, including jewelry type, date of ownership, value and description in an Excel spreadsheet or inventory template.
2. Have heirloom pieces appraised and documented
Enlist the help of a licensed jewelry appraiser to evaluate your high-value pieces and determine how much each item is worth. The written appraisal will include a description of the item, its relative quality and a value.
3. Invest in a safe or lock box (and hide jewelry as needed)
According to Statista, $1.06 billion of jewelry and precious metals were stolen in 2019 alone. Additionally, jewelry is the second top item stolen during home burglaries. Nearly 70% of robbers want to steal jewelry during a home invasion and 78% percent are successful in doing so (Alarm.org). Purchasing a safe or lock box can help ensure that your valuables are secure. Keep the safe hidden and have a combination lock to further lower the risk of it being opened.
While they are a convenient place to organize your collection, jewelry boxes are the first location an intruder will look to find prized pieces. Store your precious gems and heirloom jewelry in unusual locations such as in the bottom of a coffee cup, in an envelope taped to a wall in your closet, in the back of your freezer in a small container or in the pocket of a dress blazer in your closet. The goal is to put the high-value items where someone won’t bother to look.
4. Be at home for services
All households go through periods of home repair and unexpected home services. Remember that it’s best to be home for services while people you don’t know are in your residence. Valuable items are less likely to walk away when the homeowner is nearby.
5. Install a security system
From traditional security systems to doorbell cameras and high resolution security cameras at each entrance point, there are multiple ways to protect your home while you are away.
6. Get insurance for your jewelry
Whether jewelry is passed down to you or you purchase it, stay protected with an insurance policy covering theft, damage or loss. Depending on your collection, you may be better served by coverages specifically designed to protect high-value jewelry. Hanover Prestige offers optional coverage up to $100K for priceless valuables. Not only will it set your mind at ease, it will help replace an item in the event of the unthinkable.
To learn about valuable item protection and how to keep your high-value jewelry insured, reach out to your independent insurance agent.