How To Insure Jewelry

Purchasing jewelry can be a very expensive investment, and as with any investment, you want it protected against damage or theft.  It does not matter if you own a single ring or necklace or a whole vault of jewelry.  The key to insuring your jewelry is to make sure you have enough coverage to replace the item or to be reimbursed in cash.  Some policies will require you to replace an item within a specific period.  Below you will find steps to find out how to insure your jewelry.


It is imperative to have all your jewelry appraised.  Insurance companies will generally insure an item up to the appraised value.  Having jewelry inspected and appraised regularly will insure adequate coverage.  Have your jewelry listed by description and value on paper.


Your Homeowner’s or Renter’s insurance will cover your jewelry if it is stolen but not if it is simply lost.  A lot of your cost will depend on how much your jewelry is worth and where you keep it stored.  Most Homeowner and Renter’s insurance will only cover up to a certain amount per item, most of the time around $1,000 to $2,000 per item.  Make sure that you find out from the agent exactly what it will cover and how much it covers.  When shopping for insurance be sure to factor in deductibles.  Policies that do not require a deductible will make replacement of your jewelry less frustrating if you do not have to meet a deductible in order to have your jewelry replaced.


Take pictures!  You want to document your items on paper and in photos as well.  Damage to jewelry will be easy to identify in a picture, making replacement or reconstruction easier.

Separate Insurance

If you feel that your Homeowner’s or Renter’s insurance is inadequate, you can purchase separate jewelry insurance.  Be sure to check out the company’s reputation before you agree to a policy.  You may also want to check with the agent to see if your jewelry will be covered anywhere you go, some may not cover your items worldwide.  A good reputable company such a Jewelers Mutual Insurance Company is a good example of alternative insurance.

Keep Jewelry Safe

It is also a good idea to store your jewelry in a fireproof box, or a safe deposit box.  Some insurance companies will give you a discount for keeping your jewelry here. Even keeping your jewelry in a lock box at a trusted relative's house, with only you holding the key, will make replacement or cash reimbursement of the item that much easier.


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