When is necessary get a Jewelry Insurance?

If your favorite piece of jewelry disappeared or was badly damaged, would you feel: 

  • Devastated about the sentimental loss? 
  • Unable to cover the cost to replace it? 
  • Forced to work with a jewelry replacement company and not my preferred jeweler? 
  • Worried about having to settle for a replacement of lesser quality than the original? 

If you answered “yes” to any of these questions, jewelry insurance might be a smart investment. 

A specialized jewelry insurance policy provides comprehensive coverage. Coverage against scenarios—like mysterious disappearance (or unexplained loss)—that may not be covered by standard homeowners or renters insurance or by warranties. 

Add special jewelry coverage to your home or renters policy, usually called a “scheduled” floater, rider or endorsement. These policies require you to itemize specific pieces of jewelry, along with their replacement values. They typically have higher coverage limits than standard homeowners or renters policies, as well as coverage for more circumstances, and they often don’t charge a deductible. 

How much does jewelry insurance cost? 

Rates depend on where you live, but for most people, jewelry insurance will cost 1-2% of the value of your jewelry. For example, a $5,000 engagement ring could cost as little as $50 per year to insure. 

Jewelry insurance claims 

To avoid unpleasant surprises when you file a claim, it’s important to understand how you’ll be compensated. 

Many insurance companies say they’ll pay for “repair or replacement” of damaged or stolen jewelry, but get specifics about how those payments will work. Ask your agent: 

  • Am I covered if I damage or lose my jewelry by accident? 
  • Is jewelry given or received as a gift covered? 
  • Does my coverage change when I’m traveling? 
  • Will I be reimbursed the cash value of the item or the amount it takes to replace it? 
  • Can I choose my own jeweler for repair or replacement? 
  • If I own custom jewelry, will my policy pay for a new piece, or will I be required to accept something “comparable”? 

Tips for protecting your jewelry: 

  • Make sure it is insured for the right amount 
  • Have the item appraised 
  • Keep a copy of the store receipt 
  • Take a picture of the item 
  • Keep your jewelry in a secure place such as a safe-deposit box 
  • When traveling only bring the jewels you are going to wear 
  • Never leave jewelry in your luggage while being transported by an airline, cruise line, or other public transportation 
  • Have your jewelry inspected regularly 

Talk with a trusted advisor. 


When you’re ready to purchase jewelry insurance, you need someone with your best interests in mind who can guide you through the process. If you are looking for a good advisor, come to us!  

 Visit our office or give us a call at 310-221-0917