Jewelry insurance

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.

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.

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.

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.