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Does Homeowners Insurance Cover Jewelry?

on Nov 12, 2019 11:00 AM
Does Homeowners Insurance Cover Jewelry

“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.

Jewelry Coverage Under Homeowners Insurance

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’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

Printable version

Covered 
Covered

Maybe Covered 
Maybe Covered

Not Covered 
Not Covered

 

Jewelers Mutual Insurance Group

Typical Homeowners
or Renters Insurance

Typical Jewelry Rider: Homeowners Policy

Loss

Covered

Not Covered

Covered

Theft

Covered

Covered

Covered

Damage

Covered

Maybe Covered

Maybe Covered

Mysterious Disappearance
An unexplained loss

 Covered  Not Covered  Covered

Flood or Earthquake

Covered

Maybe Covered

Maybe Covered


Additional Features

 

Jewelers Mutual Insurance Group

Typical Homeowners
or Renters Insurance

Typical Jewelry Rider: Homeowners Policy

Jewelry Expertise

Exclusively insuring jewelry for more than 100 years, with graduate and certified gemologists on staff

Unlikely

Unlikely

Claims
Process

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
an authorized jeweler or repair/ replacement company; may instead pay cash; may require multiple estimates

May require you to use
an authorized jeweler
or repair/ replacement company; may instead pay cash; may require multiple estimates

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

Deductible Options

Flexible

Same as overall policy

Flexible

This is a brief overview for informational purposes only. Coverage and pricing are subject to underwriting review and approval, and to policy terms and conditions.
 

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.

 

Get a Quote

Comments

A very interesting point that many people with expensive or important pieces of jewelry should consider. If something were to happen to your jewelry, what would you be able to do?

Jordan

In reply to by Anonymous (not verified)

Jordan, that’s the exact question we'd like every jewelry owner to ask in order to determine if they have the right type of coverage. Having a Jewelers Mutual policy gives you the peace of mind to wear your jewelry without worry, knowing that if your piece became lost, stolen or damaged, you'd be able to get a repair or replacement of the same kind and quality as the original. Thanks for the comment!

Jessica VandenHouten

your log in stinks I have used what I put in and cannot access my account very frustrated.

Michael Catullo

In reply to by Anonymous (not verified)

Hi Michael - Sorry to hear about your frustration! Someone will be reaching out shortly to help you get logged in.

Chelsea Drusch

I have been unable to log in

Jeanne Hogue

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