In order for jewelry to be covered you must have a homeowners policy that includes jewelry coverage. However, having a home policy does not mean your jewelry is covered for everything. Basically there are two types of coverage.

 

Most home insurance policies provide “basic” coverage for jewelry. Basic coverage will cover your jewelry up to a certain limit, usually around $3,000. Basic coverage will cover your jewelry if it is destroyed in a fire or if someone steals it from you. However, basic coverage will not cover your jewelry if it is lost, falls down a drainpipe or many other unusual situations.

 

“All risk” coverage is the second type of coverage and is much better coverage. All risk would cover your jewelry in case it is lost, falls down a drainpipe and many other unusual situations. If you have jewelry that is valuable or special to you, you should discuss “all risk” coverage with your agent. A simple 5-minute phone call will alert your agent to check your policy to see if you are covered.

 

Many people that do not own a house ask if they can purchase jewelry coverage. You may purchase this coverage as a rider to your renters insurance.

 

Also, many newly engaged couples forget to add their engagement rings onto a policy. If you’re newly engaged, check with your agent to make sure your covered properly.

 

Remember to call your agent and discuss your jewelry! We hope this information helps you!