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Many Aren't Aware - Home Insurance Has Limited Coverage for Jewelry

Even if you own just a few pieces of jewelry, you may need a special addition to your home insurance policy to cover its value if it gets lost or stolen.

Whether it’s a single engagement ring, an heirloom set or a large collection, your jewelry and even your valuable articles need insurance. Yet most standard homeowners insurance policies limit the amount of coverage to around $1500, and some $5,000 or less. That might not even be enough to cover a single piece, much less an entire collection.  

For example, the average cost of an engagement ring (2023) is around $5,500, according to Therefore, a high-end piece of jewelry would be substantially more.  The average Rolex watch ranges between $7,000 and $12,000. With prices like these, every jewelry owner and collector should consider their insurance options and protect their investments. 

How to Insure Jewelry & Other Valuable Articles

Insurance options vary almost as much as the pieces they cover. For example, you can add your jewelry to your existing homeowners, condo or renters policy for only a few extra dollars a year or purchase a separate policy specific to your valuable articles.  

An experienced insurance agent can help you understand the full requirements of your insurance contract and help you make the coverage choice that's right for your specific circumstances. 

Large diamond ring


An established, close relationship with your insurance agent can ease your burden so you can focus more on living your life worry free.

Preserving Your Pieces 

Beyond insuring your jewelry, there are steps you can take to ensure the pieces are yours to enjoy and pass on. 

Use secure storage

The first and most obvious step is securing your jewelry when it's not in use. Your best option is usually a safe if the items are valuable and not used often. 

You should periodically look at jewelry you have stored away to make sure it hasn’t gone missing. You may have a time limit to file an insurance claim, so report a theft or loss as soon as you discover it. Of course, alarm systems and cameras can also deter and catch thieves.

Research travel-related stipulations and best practices 

If you plan to take your jewelry on a cruise or to an international destination, research any stipulations in your insurance policy. Safe storage of your pieces while traveling is important, so learn about best practices before tucking thousands of dollars’ worth of jewelry into your luggage.

Keep jewelry well-maintained

Keeping your pieces in good shape will help you avoid losses due to things like faulty clasps or loose gem settings.

Create a photo inventory

Make a photographic inventory of your collection and any appraisals you’ve had done. Store the photos on the cloud so you’ll still have them if you suffer a large loss due to a fire, flood, windstorm or massive theft. Your insurer will be able to identify what was lost and process your compensation more efficiently. 

Additionally, police and insurance companies often work together in cases of theft to alert pawn shops and other dealers in gems of larceny; photos can help identify your pieces and get them returned to you.



To learn more about insurance for jewelry and other valuable articles, connect with an insurance agent today! Request an Appointment Online, or Call 203-483-2988 | 203-481-2684

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