You can get better jewelry insurance by supplementing your homeowners coverage with what’s known as a “personal articles floater,” which costs more than simply raising the coverage limits on your homeowners policy.Ī floater can cover jewelry that exceeds the coverage limits of your homeowners policy. If you make a home insurance claim for theft or damage, your insurance check will be reduced by the amount of your deductible. “That’s a difficult pill to swallow,” he says. Too many homeowners discover when it’s too late that their standard home insurance won’t fully cover the loss of a $25,000 ring, says Bryan Howard, director of product management and personal lines underwriting at Jewelers Mutual, an insurer that covers jewelry.

For instance, you might pay extra to bump up the limits to $2,500 per piece and $5,000 overall-which may still not be enough. You can raise the home insurance coverage limits for jewelry, but even those dollar amounts might be insufficient. Why is the theft limit so low? Because jewelry is so easy to steal, according to the Insurance Information Institute, a trade group. But the policy normally imposes a $1,500 limit for the theft of jewelry and watches, as well as precious and semiprecious stones. Basic Homeowners Insurance for JewelryĪ standard homeowners insurance policy covers jewelry, including losses caused by fire, a tornado, theft or vandalism. Here are the three main methods for locking in the best jewelry insurance for you. But that coverage might not be enough for you if you have pricey jewelry that will account for most of your personal property limit. In that case, there’s no additional cost to cover jewelry. Homeowners insurance covers jewelry as part of the personal property portion. If you have a $10,000 ring, you could pay $100 or $200 annually to cover the ring. A jewelry insurance policy generally doesn’t cover:Ī separate jewelry insurance policy generally costs 1% to 2% of the jewelry’s value. Jewelry insurance doesn’t cover every type of loss. You can insure many types of jewelry, including:

Damaged jewelry will only be covered if the damage is caused by a problem covered by the policy, like a fire. What Does Jewelry Insurance Cover?Ī separate jewelry insurance policy typically covers damage, loss or theft. What’s right for you depends on the value of the jewelry you want to protect. You can buy separate jewelry insurance if you have items whose value exceeds your homeowners insurance limit. But a standard homeowners insurance policy limits coverage to $1,500 for theft of jewelry, watches, furs, precious and semiprecious stones. A homeowners insurance policy will pay for jewelry repair or replacement after a problem covered by the policy, such as a fire.

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