Jewelry Insurance: Protect Your Most Precious Possessions
Comprehensive protection for engagement rings, watches, and fine jewelry—coverage that goes far beyond your homeowners policy.
Important: Your Homeowners Policy Has Jewelry Limits
Most homeowners insurance policies limit jewelry coverage to just $1,500-$2,500 for theft—and may not cover loss or mysterious disappearance at all. If your engagement ring or watch is worth more than this, you need separate jewelry insurance to be fully protected.
Protect Your Precious Jewelry Today
Get a free quote for comprehensive jewelry coverage. Most items cost less than $20/month to insure.
What Is Jewelry Insurance?
Jewelry insurance is specialized coverage that protects your valuable jewelry items—engagement rings, wedding bands, watches, necklaces, bracelets, and other fine jewelry—from loss, theft, damage, and mysterious disappearance. Unlike standard homeowners insurance, which has strict limits on jewelry, dedicated jewelry insurance provides full replacement value coverage with no sublimits.
Think of jewelry insurance as a safety net for your most sentimental and valuable personal items. Whether your engagement ring slips down the drain, your watch is stolen during travel, or you simply cannot find a piece of jewelry, proper coverage ensures you won't suffer a devastating financial loss.
Jewelry insurance typically comes in two forms: a scheduled personal property endorsement added to your homeowners policy, or a standalone jewelry insurance policy from a specialty insurer. Both options provide comprehensive protection, and we can help you determine which is best for your situation.
Items We Commonly Insure
- 💍Engagement rings
- ⌚Luxury watches (Rolex, Omega, etc.)
- 💎Diamond jewelry
- 📿Pearl necklaces and sets
- ✨Estate and heirloom pieces
- 🏆Fine jewelry collections
Homeowners Insurance vs. Jewelry Insurance
Understanding the difference between your homeowners policy and dedicated jewelry insurance is critical to protecting your valuables. Here's how they compare:
| Coverage Feature | Homeowners Insurance | Jewelry Insurance |
|---|---|---|
| Coverage Limit | $1,500-$2,500 for all jewelry | Full appraised value per item |
| Theft Coverage | Yes, up to sublimit | Yes, full value |
| Loss/Mysterious Disappearance | Usually NOT covered | Fully covered |
| Accidental Damage | Usually NOT covered | Fully covered |
| Worldwide Coverage | Limited | Yes, anywhere in the world |
| Deductible | $500-$2,500 typically | Often $0 or very low |
| Replacement Options | Cash value only | Cash, repair, or replacement |
What Jewelry Insurance Covers
Typically Covered
- ✓Theft: Coverage if jewelry is stolen from your home, car, or person
- ✓Loss: Protection if you lose a piece of jewelry
- ✓Mysterious Disappearance: Covered even if you don't know how it was lost
- ✓Accidental Damage: Cracked stones, bent prongs, broken clasps
- ✓Worldwide Coverage: Protection during travel anywhere in the world
- ✓Stone Replacement: If a diamond or gemstone falls out
Common Exclusions
- ✗Normal Wear and Tear: Gradual deterioration over time
- ✗Intentional Damage: Deliberate destruction of jewelry
- ✗War/Military Action: Losses during wartime
- ✗Nuclear Hazard: Damage from nuclear events
- ✗Defects: Manufacturing or material defects
- ✗Vermin Damage: Damage caused by pests or insects
How Much Does Jewelry Insurance Cost?
Jewelry insurance is surprisingly affordable. Most policies cost between 1-2% of the appraised value annually, with some as low as 0.5% depending on location, security features, and deductible chosen.
| Item Value | Annual Cost (1%) | Annual Cost (2%) | Monthly Cost |
|---|---|---|---|
| $5,000 | $50/year | $100/year | $4-$8/month |
| $10,000 | $100/year | $200/year | $8-$17/month |
| $20,000 | $200/year | $400/year | $17-$33/month |
| $30,000 | $300/year | $600/year | $25-$50/month |
| $50,000 | $500/year | $1,000/year | $42-$83/month |
Factors That Affect Your Premium
Item Value
Higher value items cost more to insure
Your Location
Crime rates in your area affect premiums
Deductible
Higher deductibles lower your premium
Home Security
Safes and alarms can reduce costs
Claims History
Previous claims may increase rates
Coverage Type
Endorsement vs. standalone policy
Get Your Free Jewelry Insurance Quote
Most jewelry costs less than $20/month to fully protect. Find out exactly what it would cost to insure your valuables.
Jewelry Appraisals: What You Need to Know
A professional appraisal is typically required to obtain jewelry insurance. This establishes the replacement value and provides documentation for claims.
What Is a Jewelry Appraisal?
A jewelry appraisal is a professional assessment of your jewelry's characteristics and current market value. A certified gemologist examines the piece and provides a detailed report including:
- •Description of the piece
- •Metal type, weight, and purity
- •Gemstone details (cut, clarity, color, carat)
- •Current replacement value
- •Photographs of the item
Appraisal Best Practices
- 1Use a Certified Appraiser
Look for GIA-certified gemologists or members of the American Society of Appraisers
- 2Update Every 2-3 Years
Jewelry values change—keep appraisals current to ensure adequate coverage
- 3Keep Copies in a Safe Place
Store copies separately from your jewelry—digitally or in a safe deposit box
- 4Get Replacement Value, Not Resale
Insurance appraisals should reflect retail replacement cost
Pro Tip: Take Photos of Your Jewelry
In addition to your appraisal, take high-quality photos of each piece from multiple angles. Store these photos digitally (cloud storage) and include them with your appraisal documents. This documentation speeds up the claims process.
Real-World Scenarios: When Jewelry Insurance Pays Off
The Lost Engagement Ring
Sarah was washing dishes when her engagement ring slipped off and went down the drain. Despite a plumber's efforts, the ring couldn't be recovered. With jewelry insurance, she received full replacement value and was able to get a matching ring. Without insurance, she would have lost $15,000.
The Stolen Watch
Mike's luxury watch was stolen from his hotel room during a business trip. His homeowners insurance would only cover $1,500 of the $12,000 watch. Because he had scheduled the watch on a jewelry policy, he received the full replacement value with no deductible.
The Damaged Diamond
Jennifer accidentally dropped her grandmother's diamond ring on the tile floor, chipping the center stone. Standard homeowners insurance doesn't cover accidental damage, but her jewelry policy covered the $3,500 cost to repair and replace the damaged diamond.
The Beach Vacation Mishap
Tom's wedding band fell off while swimming in the ocean on vacation in Mexico. The ring was never found. His jewelry insurance covered the $4,000 replacement cost—even though the loss occurred outside the United States.
How to Get Jewelry Insurance
Getting jewelry insurance is a straightforward process. Here's what to expect:
Get Your Jewelry Appraised
Have your valuable pieces appraised by a certified gemologist. This establishes the replacement value for insurance purposes.
Contact Us for a Quote
Reach out to our team at 585-657-6101 or schedule an appointment. We'll review your appraisals and discuss coverage options.
Choose Your Coverage
We'll help you decide between adding a scheduled personal property endorsement to your homeowners policy or getting a standalone jewelry policy.
Submit Documentation
Provide your appraisals and photos. We'll submit everything to the insurance company on your behalf.
Coverage Begins
Once approved, your jewelry is protected. You'll receive documentation confirming your coverage, limits, and any deductibles.
Frequently Asked Questions About Jewelry Insurance
Does homeowners insurance cover jewelry?
Standard homeowners insurance typically limits jewelry coverage to $1,500-$2,500 for theft and may not cover loss, mysterious disappearance, or accidental damage at all. If your jewelry is worth more than these limits, you need a scheduled personal property endorsement or standalone jewelry insurance for full protection.
How much does jewelry insurance cost?
Jewelry insurance typically costs 1-2% of the appraised value annually. For example, a $10,000 engagement ring would cost approximately $100-$200 per year to insure—that's less than $20 per month for complete peace of mind. Premiums vary based on location, security measures, and deductible choice.
What does jewelry insurance cover?
Jewelry insurance covers theft, loss, mysterious disappearance, accidental damage (like a chipped diamond), and provides worldwide protection. Unlike homeowners insurance, there are no sublimits, and coverage extends anywhere you travel.
Do I need an appraisal for jewelry insurance?
Yes, most insurance companies require a professional appraisal from a certified gemologist to establish the value of jewelry items. Appraisals should be updated every 2-3 years to reflect current market values and ensure you have adequate coverage if you need to file a claim.
Is my engagement ring covered while traveling?
Yes! Jewelry insurance provides worldwide coverage, so your engagement ring is protected whether you're at home, traveling domestically, or abroad. This is one of the key advantages over standard homeowners insurance, which may limit coverage outside your home.
What happens if I lose my engagement ring?
With proper jewelry insurance, if you lose your engagement ring, you file a claim and typically receive reimbursement for the appraised value. Many policies cover "mysterious disappearance," meaning you're covered even if you simply cannot find the ring and don't know exactly how it was lost.
Should I choose cash or replacement?
Most jewelry policies offer both options. Cash settlement gives you the appraised value to spend as you wish. Replacement allows the insurer to replace the item through their network, sometimes at better prices. Consider which option works best for your specific items—especially for unique or sentimental pieces.
Related Coverage Options
Jewelry is just one type of valuable item you may want to protect. Consider these related coverages:
Homeowners Insurance
Your foundation coverage for home and personal property protection.
Collectibles Insurance
Protect art, antiques, coins, and other valuable collections.
Personal Umbrella
Extra liability protection beyond your home and auto policies.
Identity Theft Protection
Coverage for identity restoration and financial losses.
Important Information
This information is provided for educational purposes only and does not constitute insurance advice. Jewelry insurance coverage, features, exclusions, and availability may vary by insurance carrier and policy. Premiums, limits, and deductibles will depend on your specific items and coverage selections.
All coverage is subject to policy terms, conditions, and exclusions. Please review your policy carefully and consult with a licensed insurance professional to determine appropriate coverage for your specific situation.
The Stan Steele Agency is licensed to conduct business in New York State. License information available upon request or at the New York Department of Financial Services website.
Don't Leave Your Valuables Unprotected
Your engagement ring, wedding bands, watches, and heirloom jewelry deserve the protection they need. Get comprehensive jewelry insurance for peace of mind.
Why Choose Stan Steele Agency?
- ✓ Free, no-obligation jewelry insurance quotes
- ✓ Multiple carrier options for best rates
- ✓ Help finding certified appraisers in your area
- ✓ Expert guidance on coverage levels and options
- ✓ Local agents who understand your needs
Serving New York since 1969 • Rochester, NY
