Is Rental Jewelry Insured? Do I pay extra for it?

As determining the price of rental jewelry varies among providers, the policies regarding whether rental jewelry is insured or not depends upon the individual vendor, too. For a lady trying to rent her own wedding day jewelry to recoup some costs, she will invariably require the person ordering the jewelry to purchase insurance. But, for the big companies that specialize in wedding day rentals, insurance will be dealt with in a variety of fashions. Generally speaking, most do include insurance as they must protect their assets, but that does not mean that in all instances, clients will not pay extra for insurance.

Before speaking specifically about the insurance, one fact that should be understood is that the more expensive the piece, the less likely a person will be able to rent it. In fact, the process of renting jewelry, whether someone has budgeted for it or not, is rather stringent. Larger companies generally perform credit checks and background checks to ensure the safe return of their property. Needless to say many potential renters are weeded out of the rental process.

Further, once you are approved to rent an expensive piece of jewelry, it would be prudent to consider taking out a short term insurance policy just in case. Remember that an expensive piece is probably beyond your means if you should be required to replace it. When choosing insurance, insure the piece for full replacement value, and opt for no deductible or a very low amount.

For less expensive items, and regarding companies that specialize in jewelry rental, normally the insurance is covered as part of the price listed to rent the items. Even the insurance on shipping will be covered, as the rental company will purchase pre-paid insured mailing labels so that she guarantees the safe return of her jewelry. This does not mean, however, that you can act carelessly with the pieces. The insurance on shipping is only effective if you can prove that you indeed mailed the item. Normally, it is best to take the package to an outlet and see that it is scanned into the computer and even request a receipt with date and time stamp. If something out the ordinary happens and you have not taken precautions, you could still be liable.

Lastly, and The Insurance Help Site's main advice: be sure to read the fine print. You could end of losing much more than your deposit so you really do not want to take any chances. The cost of insurance will be more than justified for your peace of mind and future security.