Get Oregon jewelry & valuables insurance quotes, cost & coverage fast. Personal valuables insurance protects your important OR possessions and can help replace them if they're lost, stolen or damaged.
Oregon Jewelry & Valuables Insurance
A special kind of joy comes from acquiring new jewelry. Its small and portable, yet very valuable nature makes it a simple target for burglars. It can easily be lost, stolen, or damaged. Insuring your valuables will help ensure you get financial compensation when you make a claim. You can either incorporate them into your existing OR homeowners insurance policy, which can limit coverage based on the type of item and cause of loss, or you can purchase a specific Oregon Jewelry & Valuables Insurance policy to fully cover your important possessions.
It's not just a thing for the wealthy. From jewelry to guns to collectibles, you might have more items of value than you realize. This article answers the most important questions you'd ask about Oregon Jewelry & Valuables Insurance.
What is Classed as a 'Valuable'?
Most insurers make a distinction between 'valuables' and other 'items' in your home. Jewelry, watches, works of art, and items made of precious materials like gold are often classed as valuables. But, other items like musical instruments, audio equipment, and computers might also be valuable to you, as well. However, such might not be classified as 'valuables' unless you tell the insurer otherwise.
Generally, an item ought to be considered valuable if its cost of replacement exceeds the cover limit applied to your OR home contents' insurance. In such a case, you can ask your insurer to cover that item separately, which will prompt for an additional cost.
If you have a home contents' coverage, you should look into it and check its limits. You might find that there's a limit for 'valuables' that's separate to the limit applying to the contents coverage. It's also likely that the insurance company has a limit on how much they would pay out for any one item. This is often referred to as the 'single item limit'.
Sometimes called insurance 'floaters,' Oregon Jewelry & Valuables Insurance is an additional coverage, designed to cover your fine art, jewelry, antiques, wine, coins or nearly any collectible with limits above and beyond what your homeowners policy can offer. These are for individual items of significant value. You can list each item and the amount you need to insure it for. Appraisals might be required to determine value of these items.
A good idea is to go through all rooms in your house, listing the contents and giving them a respective value. This will help when you buy your Oregon Jewelry & Valuables Insurance policy. Pay careful attention to fine artwork, jewelry, and high-value technology items. Remember, you should calculate each item's replacement value.
Of course, it might not be possible to get a replacement for the exact item in some cases. For instance, it's impossible to replace sentimental, valuable items such as jewelry gifted to you or family heirlooms. In such instances, the insurance company may offer cash settlement, instead.
What Does Oregon Jewelry & Valuables Insurance Cover?
Believe or not, your homeowners insurance policy has limits on the type amount coverage for your valuables. Not only that - if you file a claim, you will have to pay a deductible and it will count as a claim against your home policy and can increase your premium for years to come. That's is why you should consider a Oregon Jewelry & Valuables Insurance policy.
Following are some items that can you can get 'floater' or increased amounts of coverage on, beyond the limits of your OR homeowners policy:
- Jewelry & engagement rings
- Silverware, china & crystal
- Musical instruments
- Golf Equipment
- Fine art
- Stamp & coin collections
- Sound equipment
- Sports equipment
Most of these polices offer a zero ($0) deductible option, which means your are not out of pocket for anything for a covered loss. They can also extend coverage for different types of losses, like if the diamond in your engagement ring falls out of the prongs and you don't know where it went.
What Oregon Jewelry & Valuables Insurance Doesn't Cover
Oregon Jewelry & Valuables Insurance typically does not cover intentional damage or destruction of property.
How Much is your Jewelry Really Worth?
The price of precious metals, like gold and silver varies hugely. Case in point, the price of gold has risen by over 150% in just the past 10 years. Art, antiques, and other collectibles vary in value, as well, according to the prevailing economic and market conditions.
It makes sense to get such valuables appraised every few years. Outdated values can end up costing you more if you jewelry is over valued, and if undervalued and you file a claim - you might not get back the items full value. Upon valuation, you might realize that the replacement cost of a treasured piece of jewelry exceeds the single item limit. Getting your valuables valued prior to taking out an insurance policy will help ensure that they're insured for the correct amount. It's highly advisable that you have expensive jewelry appraised after every two years by an accredited jeweler.
How Much Does Oregon Jewelry & Valuables Insurance Cost?
How much does Oregon Jewelry & Valuables Insurance cost? The average price of Oregon Jewelry & Valuables Insurance is usually very affordable. The premiums vary depending on the company and their underwriting rules, and it depends on the amount coverage selected.
The cost can vary, depending on several factors. These include the value of what you're insuring, the insurer you consult, and where you reside. But, the cost of coverage may be as little as 1-5% of the item's value.
OR Jewelry & Valuables Insurance Quotes
Request a Oregon Jewelry & Valuables Insurance quote in Albany, Ashland, Baker City, Beaverton, Bend, Canby, Central Point, Coos Bay, Cornelius, Corvallis, Cottage Grove, Dallas, Damascus, Eugene, Forest Grove, Gladstone, Grants Pass, Gresham, Happy Valley, Hermiston, Hillsboro, Keizer, Klamath Falls, La Grande, Lake Oswego, Lebanon, McMinnville, Medford, Milwaukie, Monmouth, Newberg, Newport, North Bend, Ontario, Oregon City, Pendleton, Portland, Redmond, Roseburg, Salem, Sandy, Sherwood, Springfield, St. Helens, The Dalles, Tigard, Troutdale, Tualatin, West Linn, Wilsonville, Woodburn and all other cities in OR.
Insurance Regulations In Orgeon
Let's take a look at insurance in Oregon. There are definitely some state regulations that govern insurance in the state of Oregon. You should become familiar with what these regulations are, even if they do not necessarily apply to you.
You will be much better informed about insurance if you know what types of insurance businesses are required by law and what types they normally get regardless of law. You also may want to know the regulations governing personal insurance such as automobile insurance and life insurance. Let's take a closer look at OR insurance regulations.
Oregon Business Insurance
The first type of insurance that we will start with is business insurance. Specifically, we will be discussing general liability insurance. Commercial liability, sometimes called general liability, is a type of insurance that protects your business in case someone slips and falls on your floor or experiences roofing materials falling on their car that does damage. There are many other situations in which general liability insurance may kick in.
There are also some types of insurance that are mandated by law including Worker's Compensation insurance for any company that has one or more people working for them full-time or part-time.
Oregon does not have any laws stipulating that companies must carry disability insurance like in many states, but if there are vehicles being used for commercial purposes, then they must carry commercial auto insurance.
OR Personal Insurance
There are definitely some regulations that govern the auto insurance that normal motorists are required to carry on their vehicle. These are pretty standard across the states and match what is required in most. In Oregon, you are required to carry $25,000 per person for bodily injury and $50,000 per accident for the same. Property damage is a little higher than you will find in other states at $20,000 per accident and there is also an additional requirement that requires a personal injury protection amount of $15,000 per person.
Finally, there are regulations governing life insurance in Oregon as well. Unlike most states, there is no free look period for life insurance. However, there is the normal grace period Of 30 days when it comes to late payments. Lastly, insurance companies are required to make payment within 30 days of receiving notification of the death described in the policy. If they do not make payment within 30 days then the person that is the beneficiary of the policy may receive interest as well.
If you are looking for state specific Jewelry & Valuables Insurance quotes, costs and information: California Jewelry & Valuables Insurance, Colorado Jewelry & Valuables Insurance, Delaware Jewelry & Valuables Insurance, Florida Jewelry & Valuables Insurance, Illinois Jewelry & Valuables Insurance, Kentucky Jewelry & Valuables Insurance, New Jersey Jewelry & Valuables Insurance, New York Jewelry & Valuables Insurance, Oregon Jewelry & Valuables Insurance, Pennsylvania Jewelry & Valuables Insurance, Texas Jewelry & Valuables Insurance, Washington Jewelry & Valuables Insurance.