Are you storing your fine jewelry safely? If most of it is in your bedroom dresser, then probably not.
So, what can high-net-worth (HNW) individuals do to protect their fine jewelry? To start, take the time to learn proper jewelry safety and care. For example, while it may be tempting to store jewelry in the bedroom, the safest place is in a secure home safe (or even better, a bank vault). The same goes when traveling. If staying at a hotel, always store jewelry in the hotel’s main vault—not in the room’s safe. Additionally, never wear your valuable jewels while lounging at the pool or at the local beach.
While following these best practices can significantly reduce your exposure to loss or damage, talking with your agent and broker about valuable articles protection is an essential piece of the puzzle. For example, ask him or her about purchasing a valuable articles policy or endorsement that provides “all-risk” coverage and automatic protection for newly acquired pieces.