Is My Jewelry Covered?

Will My Homeowners/Renters Policy Cover Stolen Jewelry?

If my jewelry is lost or stolen is it covered under my Homeowners/Renters policy? Yes, but most policies have a limit as to how much they’re going to pay. These limits typically are how much the company will pay per article and how much they will pay for everything that’s stolen. You might see $1000/$2500. This means you’ll get paid $1000 per item and $2500 for everything that’s stolen. Of course, like any other loss you must first subtract your deductible. Many companies have an option to increase these amounts for an extra premium. If a piece of jewelry simply “disappears” and theft is not the probable cause, it will most likely not be covered. So, how to I cover my jewelry for all losses?

You buy a separate policy sometimes called a “Floater or Personal Articles” policy. Here, you schedule items separately with a value attached to each. In most cases, you’ll need to have an appraisal from a jeweler. Many jewelers will charge you for the appraisal. If you tend to buy from one jeweler he’ll more than likely not charge for the appraisal. Be certain to add each piece of jewelry as soon as you acquire it. Of course you will have to pay a seperate premium for this policy. It is generally an “all-risk” policy which means everything is covered except what’s excluded such as defects.

You may want you to have pictures of the jewelry.

Aside from an appraisal, your insurance company may want you to have pictures of the jewelry since many companies work with wholesalers to replace the item rather than give you money for the item.