The short answer
Jewelry is usually covered as personal property, but most policies set a special sub-limit for theft. That limit is often around $1,500 to $2,500 in total, not per piece. If you own an engagement ring or other valuable pieces, that may not be enough.
Why the limits are low
Jewelry is small, valuable and easy to steal, so carriers limit how much they'll pay for it under a standard policy. The sub-limit keeps base premiums lower for everyone. If your pieces are worth more than the limit, you can buy added coverage for just those items instead of raising coverage on everything you own.
Usually covered when
- It's stolen, up to your policy's theft sub-limit
- It's damaged or destroyed by a covered peril, such as fire
Often not covered
- Pieces that are lost or misplaced, unless scheduled
- A stone that falls out of its setting, on many policies
- Value above the sub-limit
- Wear and tear
How scheduling works
Scheduling, sometimes called a rider or floater, lists a specific piece on your policy with its own coverage amount. Carriers usually ask for a recent appraisal or receipt. Scheduled items often get broader coverage, which may include accidental loss, and some carriers charge no deductible. You pay an added premium for each item based on its value.
Other items with special limits
Jewelry isn't the only category with a cap. Many policies also set lower limits for items like these. If you own any of them, review your limits at the same time.
- Watches and furs
- Fine art and collectibles
- Silverware and other valuables made of precious metals
- Cash, gift cards and coins
Keep good records
Good records make a claim much easier.
- Photos of each piece, including close-ups
- Receipts, appraisals and grading reports
- Updated appraisals every few years, since values can change
- Copies stored somewhere outside your home
Check your policy
Your declarations page shows your personal property limit, and the policy lists special limits for categories like jewelry. Read the perils and exclusions sections too. If anything is unclear, an insurance agent can walk you through it.
CapCenter's licensed insurance agents compare quotes from multiple carriers so you can choose the coverage and price that fit. If you have valuable jewelry, mention it when you request a quote so it can be priced and scheduled correctly from the start.
