Many people rely solely on their homeowners insurance to cover their jewelry — often leading to inadequate or complete lack of coverage when there is an issue. In fact, many standard homeowners insurance policies contain significant limitations when it comes to jewelry and other personal valuables.

How do you determine if you need to have a supplemental jewelry insurance policy? To begin with, it’s important to know the value of the jewelry that you own. From there, you can determine if you need to secure a standalone policy or add an endorsements or floater to an existing policy to provide adequate coverage.

Jewelry insurance provides owners with peace of mind knowing their valuable pieces have comprehensive coverage for their full value in the event they are lost, damaged, or stolen. By working with our trusted advisors, you can choose to schedule (itemize) coverage for specific appraised items or to secure blanket coverage for a collection of items, according to your unique belongings and needs.

Commonly Asked Questions

Does homeowners insurance cover jewelry?

While some jewelry is covered by homeowners insurance, policyholders face considerable limitations in coverage. Generally speaking, jewelry is only insured against a small set of covered perils. This means that a variety of losses will not be covered, including misplacing the item or damage during routine cleaning. Furthermore, standard homeowners insurance policies contain modest coverage limits for jewelry, typically approximately $2,000. If you have several high-value items, a large collection of jewelry, or antiques that have appreciated in value, you may be left without coverage in the event of a loss.

How does jewelry insurance work?

Jewelry insurance policies cover theft, loss, or damage to covered items offering peace of mind for a variety of unexpected incidents. Some carriers also offer coverage for repairs, losses to sets or pairs, protection against market increases, and other specialized coverage for your valuables.

What types of jewelry should be insured?

  • Engagement rings
  • Wedding bands
  • Diamond jewelry
  • Watches
  • Brooches, pins, and clips
  • Collectibles, antiques, and heirloom jewelry
  • Tiaras or hair combs
  • Jewelry containing precious or semi-precious stones
  • Any other high-value jewelry items

How much does jewelry insurance cost?

Insurance premiums for jewelry insurance vary depending on a number of factors. As a general rule of thumb, coverage costs roughly 1-2% of the jewelry’s actual value. Rare or highly expensive items will have higher premiums. However, some carriers offer discounts for safe storage of items and other precautions.

How We Can Help

At Doeren Mayhew Insurance Group, we help our clients protect their assets in the face of the unexpected with customizable insurance coverage. Contact us to schedule a consultation to review your unique coverage needs.