Ensure Blog

Is There Such Thing As Jewelry Insurance?

jewerly InsuranceThose who can afford it, collect expensive watches, diamonds, rare gems, and/or gold jewelry. Ther are also those who have been intrusted with family hierlooms handed down from generation to generation. No matter how your got your jewelry there is one very important question that needs to be answered: is your expensive jewelry covered by insurance? Not every one is aware of what is fully covered by homneowners insurance and you may not be able to replace what has been stolen.

Home insurance does not necessarily cover all your precious collections of jewelry. You may need to consider insurance to specifically cover your jewelry. This specific type of insurance usually covers loss due to theft or other reasons as well as routine damage that comes with wear and tear. Jewelry insurance premiums depend on use, storage, type of home and security system.
Can a renter’s insurance coverage protect your jewelry? It depends.

If you’ve been considering taking out an insurance policy to protect your jewelry, consider a renter’s policy. A renter’s policy covers your personal property against loss or theft. . However, make sure you’ve taken out enough coverage to adequately insure your jewelry for its value.

Most homeowner and renter’s insurance policies include coverage for personal items such as jewelry. However, many policies limit the dollar amount for theft of valuable personal possessions such as jewelry, and precious stones from $1,000 to $2,000. If you’d like increased protection for valuable items, consider jewelry insurance. You might be surprised to learn that your homeowner or renter’s insurance policy probably does not offer full coverage for your engagement ring and other fine jewelry.

Your insurance policy probably covers jewelry theft, but not losses that occur for other reasons. If you’re like most folks, you receive your annual homeowner’s insurance premium notice and write the check for the amount due. But if you have nice jewelry, you’d be wise to take a closer look. In 2000 the price of gold was $300 per ounce. Since then the price of gold has increased to $1900 per ounce!

The good news is that improving your jewelry coverage isn’t out of reach. Rates to increase coverage for your jewelry can be as little as $1 to $2 per $100 in value, depending on where you live. People often forget about inflation when they think about the value of jewelry. The price they paid sticks in their mind. But almost every year, the cost of that same piece of jewelry rises, so the value of even a few items could be higher than the minimal coverage. The sharp rise in gold and silver prices lately has increased the likelihood that replacing jewelry would cost more than expected. Therefore, you should meet with your insurance agent and discuss your best option coverage for your jewelry– homeowner, renter, or jewelry insurance.


  • Contact your agent and discuss which option is best for you
  • Have your jewelry appraised–remember to allow for the cost of inflation
  • Review your coverage’s at least every two yearsThere is no way to put a dollar value on sentiment, it is important to know what you have, what it’s worth and have proper insurance

It’s one of those rainy day-type things. It’s not a bargain until you need it. What’s peace of mind worth to you?”

Want to ensure your jewelry is safe even if the unthinkable happens? Contact your Insurance Architect today. Don’t have an Insurance Architect? Click here to meet yours.