Is your jewelry covered by your homeowners policy?
Your homeowners or renters policy may only cover a portion of the value of your jewelry. If you have a valuable piece, it’s a good idea to insure it. Jewelry insurance premiums are usually a small percentage of the value of the piece, so it’s an affordable way to have piece of mind. While no policy can replace the sentimental value of your jewelry, it can help you recover the financial loss.
Every few years, have your insured items reappraised in case they’ve increased in value. That will ensure your jewelry policy is adequate for covering the replacement or repair of the piece. It’s important to note that jewelry insurance doesn’t cover normal wear and tear.
Jewelry insurance covers:
- Damage, such as losing a stone or breaking a chain
- Theft, regardless of where it’s stolen
- Disappearance, such as misplacing it