If you have a homeowner’s insurance policy or renter’s insurance, you already have some jewelry insurance. That’s because these policies include coverage for unscheduled personal property — which includes jewelry.
Typically, however, such coverage is limited to the perils covered. Also, dollar amounts on theft losses are low, and there are various exclusions. If you own fine jewelry valued over $1,000, your homeowner’s insurance will likely be inadequate.
For jewelry that is inadequately covered by a homeowner’s policy, additional coverage is available. Called “scheduled jewelry insurance,” it covers specific items by what is often referred to as a “floater,” which may or may not be tied to a homeowner’s policy. These policies offer much broader coverage, few exclusions and higher limits.
Caution: Not all floaters are the same. Some only provide repair or replacement — no cash.
Premiums, the price you pay for insurance, can vary widely from state to state and from company to company.
We offer both “standalone” (not tied to another policy) personal jewelry insurance and scheduled insurance (described above). A standalone personal jewelry policy insures only the jewelry you want to insure. This typically results in a simplified and expedited insurance process. It’s a cost-effective alternative to other forms of insurance that cover jewelry.
One of the best ways to protect your jewelry is to become educated before you purchase it. Many variables factor into the quality, price and value of jewelry. Furthermore, the retail jewelry business is unregulated, and practices vary widely. The more you know about jewelry before you walk into a jewelry store, the better you can protect yourself from possible disappointment later.
We represent several jewelry insurance companies. The premiums are the same if you go with a specialty insurer or have an experienced local agent assist you. Contact us to make the process quick and easy.