Diamonds Are a Girl’s Best Friend: Insurance for Valuables

Jewelry is one of the world’s oldest archaeological artifacts, having been used for centuries across cultures to mark social status, store wealth and symbolize personal meaning.
In the 21st century, it's common to own designer jewelry collections, engagement and wedding rings, and antique heirlooms. But whether a Rolex watch, an engagement ring, or grandma’s authentic art deco earrings, it’s important to have insurance to protect your jewelry's value.

Why insure jewelry?

Jewelry is covered under most homeowners' and renters' insurance policies, but many have exclusions and coverage limits. A basic policy may have limits as low as $1,500. While theft is typically a covered peril, damage or accidental loss may not be.

A jewelry rider (floater) or specialty jewelry insurance policy can offer added protection. Coverage is more comprehensive and normally insures the replacement value. This may involve an appraisal.

Additionally, jewelry insurance often offers coverage for “disappearances,” or losses where the timeline cannot be reconstructed, as well as worldwide travel coverage for loss or damage. That means if you lose your diamond earring while swimming in the ocean in Bora Bora, a specialty jewelry policy will keep you from ugly-crying over the loss.

How to protect jewelry

Even with a jewelry policy in place, it's important to keep your items safe.

• Store them securely. Keeping jewelry in a home safe may feel more secure than shoving it in the bottom of the sock drawer, but many retail safes can be just as insecure. Thieves can easily lift a lightweight safe and chuck it down the stairs or out the window and make a run with it. Instead, use a heavy, well-made safe bolted into the wall or floor in a hidden area on a lower level of the home. Investing in a high-quality safe can be worth its weight in all your gold for the protection it offers.

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