What to do if someone broke into our home and I had my engagement ring stolen so I notified my insurer but now it says that my policy only covers up to $1,000?

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What to do if someone broke into our home and I had my engagement ring stolen so I notified my insurer but now it says that my policy only covers up to $1,000?

When I notified them didn’t ‘t they have some responsibility to inform me that I had replacement coverage but that jewelry was only $1,000 and that I needed additional coverage.

Asked on August 7, 2012 under Insurance Law, Florida

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

I am so sorry for the situation.  This is not an easy question to give guidance on.  Generally speaking, if you want a specific piece of jewelry insured you have to have it appraised and an additional rider must be placed on the policy.  It also costs more to have the insurance.  I would speak with your broker or agent on the matter.  Good luck.


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