Jewelry Insurance
Specialized coverage for engagement rings, watches, and fine jewelry.
Typical cost: $100 – $300 per $10,000 value
What Is Jewelry Insurance?
Jewelry insurance provides specialized coverage for valuable pieces like engagement rings, wedding bands, luxury watches, and inherited heirlooms. While homeowners insurance includes some jewelry coverage, it typically limits claims to $1,000-$2,000 with significant exclusions.
Scheduling vs. Floater Policies
You can schedule individual pieces on your homeowners policy or purchase a standalone jewelry floater from a specialty insurer. Floaters typically offer broader coverage, lower or no deductibles, and worldwide protection without the limitations of homeowners insurance.
Appraisals and Documentation
Most jewelry insurance requires a recent appraisal from a certified gemologist. Keep receipts, photographs, and GIA certificates in a safe place. Update appraisals every 2-3 years as precious metal and gem values fluctuate.
What's covered
Loss Coverage
Covers mysterious disappearance—when jewelry goes missing without explanation.
Theft Protection
Replaces jewelry stolen from your home, car, or while traveling.
Accidental Damage
Covers repairs for chips, cracks, broken prongs, and other accidental damage.
Worldwide Coverage
Protection that travels with you anywhere in the world.
No Deductible Options
Many specialty insurers offer zero-deductible policies.
Replacement Options
Choice between cash payout, replacement through your jeweler, or insurer's network.
Pros and cons
Advantages
- Specialized coverage designed for valuable jewelry
- Covers mysterious disappearance that homeowners excludes
- Worldwide protection including international travel
- Low or no deductibles available
- Can use your own jeweler for repairs or replacement
- Premiums often 1-2% of appraised value annually
Considerations
- Requires professional appraisal for coverage
- Premiums based on appraised value which can increase over time
- Some policies require specific security measures
- Replacement may not perfectly match sentimental value
- Claims require documentation and police reports for theft
Frequently asked questions
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