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Unfortunately, standard homeowner’s or renter’s insurance policies generally do not offer full coverage for your jewelry. That includes precious pieces like engagement rings, Swiss watches, earrings, diamonds, pearls, and other pieces of fine jewelry. While your standard insurance policy probably does cover jewelry theft, it does not cover loss for other reasons. In order to make sure, contact your insurance company.

Typical Insurance Policies

Even if your renter's and homeowner's insurance policy does cover jewelry, these policies often set limits for the loss of certain categories of personal property, including jewelry. Homeowner's policies typically pay a maximum of $1,000 for jewelry theft. A renter's insurance policy might have a lower limit for jewelry loss. Again, in order to make sure, contact your insurance agent for details on your particular insurance policy.

Additional Jewelry Insurance

In order to better insulate yourself in the event of a jewelry theft or loss of jewelry, there are other types of insurance policies that you can purchase that specifically cover fine jewelry. Even if you purchase this type of policy, be sure to ask your agent questions so that you have a good understanding of your level of insurance coverage and exactly what it covers:

Here are some good questions to ask your insurance agent if you wish to cover your jewelry pieces:

Is there a deductible for insurance claims? If so, how much is it and how does raising or lowering the deductible affect your policy costs?

Is an appraisal for your jewelry required prior to obtaining insurance? Are there only certain types of appraisers whose reports are accepted?

Are the items covered no matter where the claim takes place? Would the insurance policy cover you for a loss that occurs during just domestic travel or international travel as well?

Are items covered for full replacement cost? Does the insurance company replace the lost or damaged item, or can you obtain a cash settlement instead?

Does the policy cover repairs to jewelry that has been damaged?

Are there specific types of jewelry that are covered?

For the ultimate level of safety, consider storing your fine jewelry and gems outside of your home in a Safe Deposit Box, available at Burdeen's.

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