Jewelry holds a special place in many people’s hearts and often represents cherished memories or significant investments, but what happens when prized jewelry pieces are lost, damaged or stolen? That’s where jewelry insurance can help. Whether you’re engaged, collect jewelry or have valuable pieces that are close to your heart, understanding jewelry insurance is essential to safeguard your precious treasures financially.  

What Insurance Covers My Jewelry? 

The type of insurance that covers jewelry depends on your policy type and the insurance provider. The following are some common options: 

• Homeowners insurance—Homeowners or renters insurance policies include coverage for personal property, which may cover your jewelry. However, there is often a limit on the amount of coverage for valuable items like jewelry. If your jewelry exceeds this limit, you may need additional coverage.
• Scheduled personal property coverage—To ensure adequate coverage for high-value items like jewelry, you can often add a rider or endorsement to your existing homeowners or renters insurance policy. This is sometimes called scheduled personal property coverage, and it can provide additional coverage specifically for these valuable items.
• Specialty jewelry insurance—Some insurance companies offer specialized jewelry insurance policies. These policies are designed to specifically cover valuable items like jewelry, providing coverage for a broad range of risks, including loss, theft or damage. 

How Much Is Jewelry Insurance? 

The cost of jewelry insurance can vary widely based on several factors. Here are some of the key elements that influence the cost of jewelry insurance: 

• Value of jewelry
• Type of coverage
• Deductible
• Location
• Security measures (such as using a home safe or having a monitored security system)
• Claims history 

Is It Worth It to Insure Jewelry? 

Whether it’s worth it to ensure jewelry depends on several factors, so individuals should carefully consider their circumstances before deciding. Contact Keats Insurance Agencies to discuss whether jewelry insurance suits your situation.