“I feel sick. I lost my ring in the lake while boating. But my homeowners insurance covers jewelry, so I'll just give them a call."
"Wait, what? My policy doesn’t cover accidental jewelry loss?”
Finding out your homeowners or renters insurance falls short after you’ve already lost your ring leaves you wondering what to do next. Do you pay for a replacement out of your own pocket? Or go without a ring?
Rock. Hard place.
So how do you know which insurance option won't leave you empty-handed when the unexpected happens? Read on to understand what situations are covered under homeowners insurance and specialized jewelry insurance and for how much.
Does Homeowners Insurance Cover Jewelry?
Most homeowners insurance policies do cover jewelry to some extent. In many cases, however, your coverage is limited by:
- Limitations or exclusions on situations covered
- Requirements to use jewelry replacement companies
- Needing several estimates before settling a claim
- Coverage value limits (leaving the rest up to you)
Plus, a jewelry claim could affect the status of your entire policy.
That’s why it’s important to evaluate your insurance options. Call your homeowners or renters insurance and ask for the details of your jewelry coverage. Never just assume you’re covered.
Specialized Jewelry Insurance
Insurance coverage specifically built to protect jewelry is much more likely to comprehensively protect against the common perils associated with jewelry loss - like mysterious disappearance.
While we can't speak for all specialized jewelry insurance products, here's how Jewelers Mutual Group's coverage compares to a standard homeowners or renters policy, and even a typical rider as part of such a policy.
Jewelry Insurance vs. Homeowners vs. Riders
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Typical Homeowners |
Typical Jewelry Rider: Homeowners Policy |
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Loss |
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Theft |
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Damage |
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Mysterious Disappearance |
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Flood or Earthquake |
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Additional Features of Jewelry Insurance With Jewelers Mutual Group
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Typical Homeowners |
Typical Jewelry Rider: Homeowners Policy |
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Jewelry Expertise |
Exclusively insuring jewelry for more than 100 years, with graduate and certified gemologists on staff |
Unlikely |
Unlikely |
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Claims |
Repair or replacement with same kind and quality (up to the value on your policy) from the jeweler of your choice; no need for multiple estimates |
May require you to use |
May require you to use |
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Effects of Claims |
No increase to your Jewelers Mutual policy premium |
Claims may affect status of entire policy, including coverage for your home |
Claims may affect status of entire policy, including coverage for your home |
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Deductible Options |
Flexible |
Same as overall policy |
Flexible |
Do your research ahead of time and make sure you’re covered (for real) before something happens. Wondering if your jewelry is worth insuring? Ask yourself:
If my new jewelry went missing today, would I be …
- Devastated about the sentimental loss?
- Afraid to wear my other jewelry for fear of losing it?
- Unable to cover the cost to replace the piece?
- Subjected to coverage limits with my current insurance?
- Forced to work with a jewelry replacement company and not my preferred jeweler?
- Worried about having to settle for a replacement of lesser quality than the original?
If you answered “yes” to one or more of these questions, consider specialized jewelry insurance.
When it comes to your jewelry, you want to wear it, not worry about it. Get a free insurance quote in minutes by clicking the button below.
There are so many benefits of a insurance policy through Jewelers Mutual, but don't just take it from us! Check out what our policyholders have to say.