Jewelry is not always automatically fully insured. But no worries. You can typically add jewelry to a homeowners, renters, condo, or manufactured home policy. Just contact us, or your insurer, to insure the full appraised value. Most of the time it is better to have your valuable items such as your jewelry scheduled. “Scheduled” means the item is listed separately and not lumped together with everything else. Scheduled jewelry insurance can be attached to your existing policy or it can be completely separate.

Coverage for jewelry is often limited on insurance policies. A lot of times, coverage depends on how much your jewelry is worth and the type of loss (theft, fire, etc.). Long story short: If you want to be sure your jewelry is fully covered, you need to add it to your policy. This is technically called scheduling an item or adding a rider, but it’s really just like listing a special one-off item on your policy.

Why isn’t jewelry automatically insured?

A lot of customers want to know why jewelry isn’t just covered. Insurance companies won’t assume that you have expensive items. You’d then be paying for insurance you don’t need. If insurers built in extra coverage to all policies for a $5,000-$10,000 engagement ring, everyone’s price would be higher. That’s the last thing everyone wants. So, insurers offer the option to add expensive items to give you and everyone a better, more accurate price.

Coverages for your jewelry:

No matter where it’s stolen (off your body, out of your home, car, gym bag, etc.).
This potentially covers both total and partial damage. For example: A prong on your engagement ring breaks off and you lose the diamond, a broken link on a gold necklace, a chipped silver ring.
Loss and disappearance-
This is normally covered even if it’s your own silly fault, and you flat-out forget where you left it.

Types of jewelry you can insure:

You can insure almost any type of jewelry, including engagement rings, other wedding rings, diamond rings, necklaces, bracelets, etc. Most insurance companies do have a maximum limit they’ll insure. That limit can vary and may depend on your policy’s total coverage amount. If you have jewelry worth more than the max insured amount, you’ll need a completely separate policy.

What’s not covered:

Wear and tear. Sorry, but insurers won’t replace jewelry that simply tarnishes or gets scratched over time. For example: A gold wedding ring that’s 30 years old and is heavily scratched. Instead, something unexpected has to happen. How your insurance works and how you can get paid. If something happens to your jewelry that you scheduled, just file a claim for the cost of your repair if it’s damaged, or for the full appraised amount if it’s lost or stolen. For example: If a prong on your engagement ring breaks off and you still have the diamond, we or your insurer will pay for the cost of repair. If it’s stolen or lost, you’ll get a check for the full appraised amount.

At Capital Insurance Service we offer Home Insurance, Renters Insurance, Motorcycle Insurance, Boat Insurance, Mobile Home Insurance, Business Insurance, Life Insurance.