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Does My Homeowners Insurance Cover My Jewelry?

“I feel sick. I lost my ring in the lake while boating. But my homeowners insurance covers jewelry, so I'll just give them a call."

"Wait, what? My policy doesn’t cover accidental jewelry loss?”

Finding out your homeowners or renters insurance falls short after you’ve already lost your ring leaves you wondering what to do next.  Do you pay for a replacement out of your own pocket? Or go without a ring? You are stuck between a rock and a hard place.

So how do you know which insurance option won't leave you empty-handed when the unexpected happens? The first step is understanding exactly which situations are covered and for how much.

Jewelry Coverage Under Homeowners Insurance

Most homeowners insurance policies do cover jewelry to some extent.  In many cases, however, your coverage is limited by:

  • Limitations or exclusions on situations covered
  • Requirements to use jewelry replacement companies
  • Needing several estimates before settling a claim
  • Coverage value limits (leaving the rest up to you)

Plus, a jewelry claim could affect the status of your entire policy. That’s why it’s important to evaluate your insurance options. Call your homeowners or renters insurance and ask for the details of your jewelry coverage. Never just assume you’re covered.

Specialized Jewelry Insurance

Insurance coverage specifically built to protect jewelry is much more likely to comprehensively protect against the common perils associated with jewelry loss - like mysterious disappearance.

Do your research ahead of time and make sure you’re covered (for real) before something happens.

Wondering if your jewelry is worth insuring? Ask yourself:

If my new jewelry went missing today, would I be …

  • Devastated about the sentimental loss?
  • Afraid to wear my other jewelry for fear of losing it?
  • Unable to cover the cost to replace the piece?
  • Subjected to coverage limits with my current insurance?
  • Forced to work with a jewelry replacement company and not my preferred jeweler?
  • Worried about having to settle for a replacement of lesser quality than the original?

If you answered “yes” to one or more of these questions, consider specialized jewelry insurance. Because when it comes to your jewelry, you want to wear it, not worry about it.

(Compliments of Jewelers Mutual Insurance.)

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