protect your precious pieces
get a quoteSummary of jewelry insurance
Your jewelry carries meaning as well as value. Jewelry insurance helps safeguard valuable pieces like engagement rings, wedding bands, and family heirlooms. Coverage can protect against theft, loss, and damage, as well as mysterious disappearance. With flexible policy options, affordable protection, and reliable claims support, Allstate helps to make it simple to keep your jewelry—and your memories—secure.
What is jewelry insurance and what does it cover?
With jewelry insurance, you can cover the cost of repairing or replacing your valuables. Most policies protect against accidental loss, theft, damage and disappearance, even during global travel. Jewelry insurance offers protection for most types of jewelry and collections, including:
- Wedding and engangement rings
- Earrings
- Necklaces
- Bracelets
- Watches
How much does jewelry insurance cost?
You can expect a policy to cost anywhere from one to two percent of the item’s value, annually. For example, a $5,000 engagement ring could cost as little as $50 a year to insure.
You can expect a policy to cost anywhere from 1-2% of the item’s value, annually. Here are some real-life examples for context:
- $124/yr for an $8,000 ring in Dallas (75043) with a $0 deductible
- $180/yr for a $9,000 bracelet in Long Beach (90803) with a $0 deductible
- $260/yr for a $20,000 pair of rings in Phoenix (85003) with a $0 deductible
- $75/yr for a $6,000 ring in Denver (80202) with a $0 deductible
- $42/yr for a $4,000 ring in Seattle (98107) with a $0 deductible
- $68/yr for a $5,000 pair of earrings in Jacksonville (32202) with a $0 deductible
- $184/yr for a $12,000 watch in Chicago (60614) with a $100 deductible
- $440/yr for a $32,000 pair of watches in New Rochelle (10804) with a $300 deductible
Rates vary based on jewelry value, your deductible choice, and location.
What does jewelry insurance cover?
All perils are covered by your personal jewelry policy, which means loss, theft, damage or disappearance, as well as:
- Protection from natural disasters
- Worldwide travel
- Preventative maintenance
What’s typically not covered by jewelry insurance?
What’s not covered can vary from one policy to the next, but the following are typically not included in a personal jewelry policy:
- Civil authority, including your jewelry being confiscated during a law enforcement search
- Unavoidable deterioration or decay: If the piece had pre-existing damage that causes it to break or fall apart*
- Losing or damaging your jewelry intentionally
- Nuclear hazard, like a fire resulting from a nuclear reaction
- Effects from vermin, rodents or insects
- Parting willingly under false pretenses
- Any war or military-like activity
- Resizing, cleaning and inspection
If you have any questions as to what is or is not covered under your policy, give us a call or visit www.jewelersmutual.com for more information.
Why you shouldn’t rely on your homeowners insurance
With deductibles, low coverage caps and exclusions for common risks, the jewelry protection offered with a homeowners or renters policy is typically limited and often excludes accidental loss, damage or mysterious disappearance.
What’s the average coverage and process for rings, watches and more?
Comprehensive coverage protects you from the high out-of-pocket costs to repair and replace your item. On average, coverage under jewelry insurance ranges from $35,000 to $250,000, and many policies have no deductible.
Jewelry insurance FAQs
The jewelry coverage on a homeowners or renters policy is often not enough to cover the full replacement cost and even jewelry-specific riders have limits on coverage amounts. For example, a homeowners policy might only pay up to $1,000 for any jewelry claims. That means you would be held responsible for the out-of-pocket costs to repair or replace the piece. Additionally, purchasing a standalone jewelry policy protects your home insurance from the effects of a potential jewelry claim.
In most cases you don’t need an appraisal unless the policy goes to underwriting. However, it is highly recommended that you get the item appraised to determine the level of coverage you need.
A jewelry appraisal evaluates your entire piece including stones, setting, material, and other factors then assigns a dollar value. We use the appraisal and/or detailed receipt to set a coverage limit on your policy. If its value was over-inflated, you could spend more than necessary to insure your piece. If it’s under-insured, you may have additional out-of-pocket expenses to repair or replace the jewelry if it’s damaged or lost.
Your local jeweler can appraise your item. Jewelry worth can change over time, which is why we recommend you get it re-appraised every two years.
There are many deductible options, starting at $0, $100, $250 or $500. Deductible options may vary based on previous loss history or underwriting review.
Pick the deductible option that’s right for your situation. However, keep in mind that choosing a higher deductible means you will pay less for your yearly insurance premium, but you could also end up paying more later if you submit a claim.
You can file a claim online or over the phone. You then select your preferred jeweler to repair or replace your item. Once you pay your deductible (if applicable), you work directly with your jeweler to replace the item of same kind and quality, not to exceed your items coverage limit