Why Bilbo Baggins Should Have Purchased Jewelry Insurance

Ring Inscriptions

We’re not sure if there was a local insurance agent living in the Shire, but if so he should have convinced Bilbo Baggins to insure The Ring. Think of the stress he could have prevented!

Bilbo wasn’t alone. Most homeowners are unaware that their homeowner’s policy often provides only limited coverage for jewelry. If you own jewelry valuing at a few hundred dollars, your general policy may be all you need. However, if it’s of a more substantial value – such as the one ring to the rule them all – consider adding jewelry insurance as an extra precaution.

The first thing you must do is to document the value of your items. If you have recently purchased the jewelry, the receipt from the jeweler should suffice. However if you do not have this documentation, you will need to get the item appraised. Of course, make sure that you find a trusted jewelry appraiser. For instance, if one possessed a ring that would make the wearer invisible – you might want a trusted professional to note this.

You need to discuss the coverage with your insurance agent.Find out what causes of loss qualify for coverage such as theft, misplacing without knowing the specifics, or being cast into the fires of Mount Doom.

Whether you’re in Katy, Texas or the Shire, having jewelry insurance could have saved Bilbo and his nephew a lot of heartache and stress. After all, who needs ring bearers when you have jewelry insurance?

Call your trusted local insurance agent today to find out if your valuables are insured properly.

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