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If you’ve recently purchased an engagement ring, inherited a family heirloom, or customized your dream statement piece of jewelry, you’re likely considering insuring your high-priced item. 

While you aren’t required to purchase insurance for your jewelry the same way you need insurance for your home or car, it’s always wise to do so. 

However, if you already have home insurance, which includes the valuables it contains, do you need additional insurance for specific jewelry pieces? 

When does house insurance cover jewelry?

When jewelry is lost or damaged due to theft or fire, it may be partially covered by your standard homeowner’s insurance

For example, if your home is broken into and your Grandfather’s Rolex watch is taken, your policy may cover part of its value depending on coverage built into it. 

However, if you drop your wedding ring down the drain while cleaning it, you may not be covered unless explicitly added to the policy. 

How will my insurance policy protect my jewelry? 

Some of the most common risks associated with jewelry loss or damage include theft and mysterious disappearance  

Each policy owner should consult their broker to ensure they know what circumstances their current policy covers.

How much of my jewelry does my home insurance cover?

It’s important to note the item will be covered up to the maximum limit defined in your specific policy. In most cases, jewelry is considered high-value property so coverage limits can vary greatly. 

What if my jewelry is costly?

If your jewelry items are more expensive than what is provided in your home insurance policy, you’ll likely need additional insurance coverage added to your policy. 

You can purchase jewelry floater coverage to raise the coverage limits of specific high-value items, such as an engagement ring. 

In short, the more your broker knows about the value of your items, the better equipped they are to recommend the proper coverage. 

Can I insure antique or ‘priceless’ jewelry?

If your most prized accessories are antiques or custom-made, no amount of money can likely replace what they mean to you. 

Though your item may be priceless to you, you will still need to have your items professionally appraised to determine their value for insurance purposes.

Even if money can’t replace sentimental value, having security on your special items can help to lessen the blow of damage or loss.

Can I still wear insured jewelry?

Yes. Protecting your jewelry with insurance doesn’t mean you have to store it away. Instead, enjoy and wear your jewelry, knowing you’re covered. 

How do I insure my jewelry?

Does house insurance cover jewelry? Reach out to our team at Benson Kearley IFG today to discuss your options for personal property insurance. We would be happy to discuss our policies and find specific coverage to fit your needs.