Is Your Jewelry Insured? Here’s Why It Should Be! 

March 14, 2022

Jewelry is personal. It recalls emotions, moments, and milestones in your life, which is why it can be devastating if the jewelry that represents special moments in your life is damaged, lost, or stolen. A jewelry insurance policy is the best way to make sure your favorite items are protected.

What’s covered with a jewelry policy? Loss – You left your ring somewhere…on a beach towel or in a public bathroom. It’s out there somewhere and you can’t find it. Don’t panic, it’s covered. Theft – We all know that feeling of dread when something we cherish is stolen. Rest assured that stolen pieces are covered, too. Damage – You hit your diamond ring on the edge of a table and it cracks. Accidents happen; it’s covered. Disappearance – Sometimes jewelry just disappears—it could be lost, stolen, or fell off while you were jogging. Don’t worry, that’s covered.

White gold pendant and earrings with south sea pearls and diamonds on Rainbow Lip Pearl Oyster (Pteria sterna)

How Does Jewelry Insurance Work? A specialized jewelry insurance policy provides comprehensive coverage. This includes coverage against scenarios—like mysterious disappearance (or unexplained loss)—that may not be covered by standard homeowners or renters insurance or by warranties. 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 also provides peace of mind. Think about it, whenever you have something valuable with you it’s natural to feel on edge thinking of whether or not something could happen that could end in the loss or damage to said item. However, when you know that your jewels are insured, you’re less likely to stress.

It’s worth noting that if you do decide to have your jewelry insured we recommend purchasing coverage for your entire collection. Additionally, it’s recommended that you periodically get your jewelry appraised every 3-5 years. As we all know, the value of gold and other precious metals can rise and fall so it’s important your coverage matches the actual cost of replacing these items.

For more information or to purchase a jewelry insurance policy of your own, be sure to give us a call!

Agent, NPN #7042529