jewelry insurance

Planning to buy a special piece of jewelry for your spouse?

Consider a personal articles insurance policy for your jewelry.  On a weekly basis we hear one of two stories about insuring jewelry from prospective or current clients.

  1. “Janet, she is so careful with her jewelry I cannot imagine that ever happening.”
  2. “There was this one time, Janet lost her ring. There went $3,000.  We figure it was lost at the restaurant.” Or “stolen at the YMCA.”  Or “fell off at the lake.” Or “we think it could have been the cleaning lady at the hotel.”  Among many others…

What do both of these situations have in common?  Limited to no insurance coverage

Homeowners insurance may provide limited jewelry coverage but the amount and type of coverage will vary among insurance carriers.  For example, a homeowners policy may cover around $1,000-$2,000 in jewelry but can be subject to a high deductible and have limited coverage such as only if its stolen from your home.

What’s your comfort level?

wedding rings insurance

We have clients that do not insure $20,000 diamond rings and we have clients that insure $500 rings.  There is no right answer to this other than you should understand what you are willing to risk.

Here are your options.

Self insure your risk – Don’t do anything and automatically assume your limited to no coverage with your homeowners policy.  We have clients in this category, one even says “If I can’t break or lose it, then I can’t afford it.”

However, if it makes you uncomfortable to wear or enjoy your jewelry then we would recommend buying some peace of mind through a personal articles policy.

Personal articles insurance – Schedule the important jewelry in your household or better yet get a “blanket” limit to cover all of your jewelry subject to a maximum limit.  Cost varies but to give you a middle of the road idea, use a $1.00 rate per $1,000 in jewelry.  For example, if your spouse has a $2,500 ring the insurance cost on a personal articles policy would cost about $25 a year with a $0 deductible.

Be intentional with your personal insurance and cover what has enough value to you.  Talk with your trusted insurance adviser to best understand your options.

Jeremy Hyde | Colligan & Company

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About the Author: Jeremy Hyde

Christian, MK/PK, Brother, Husband of a magnificent wife, Father of three sons and two daughters, Insurance dork, Sports and Racing fan, Competitor, Coach, Early riser, Grill-man, Yearner of sand dunes and Lake Michigan, Owner of a Yorkie named Gerald, Wannabe basketball player, Reluctant handyman, Car enthusiast, Admirer of passion and excellence and design...

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39 Comments

  1. Jose December 22, 2019 at 9:04 am - Reply

    Great write-up.

  2. Kelly Muda December 24, 2019 at 9:01 pm - Reply

    Your blog on insuring my jewelry is spot on.

  3. Diana Santini December 26, 2019 at 2:42 am - Reply

    I like what you put in writing this web site. People have all kinds of insurance needs.

  4. Tara Shoumaker December 26, 2019 at 7:28 am - Reply

    Hi there, just became alert to your insurance blog through Google, and found that it is really informative.

  5. Cindy Caveness January 26, 2020 at 4:14 am - Reply

    Thanks alot : ) for your insurance blog post. Helps me on my jewelry!

  6. Sam White January 27, 2020 at 11:17 am - Reply

    Awesome jewelry insurance post! Keep up the great work! :)

  7. Ed Turk February 19, 2020 at 6:03 am - Reply

    Definitely, what a fantastic website and instructive posts, I surely will bookmark your website. My wife should schedule her ring insured properly. I’ve heard it is called an inland marine policy too. Have an awesome day!

  8. Val Taylor February 19, 2020 at 7:19 pm - Reply

    I need to get my ring insured!

  9. Frank K February 28, 2020 at 2:39 am - Reply

    I’m glad I came across your insurance website. My wife was asking about her wedding ring so this makes a lot of sense. Thanks

  10. Penny C March 18, 2020 at 1:38 pm - Reply

    I’ve had several pieces of valuable jewelry uninsured! Good to know! It’s easy to assume or forget about these things

  11. Francisco Tlat March 30, 2020 at 9:13 am - Reply

    https://colliganandco.com It is the best site I have ever visited about insurance!

    I’m glad you are local and can help me out on these kinds of mattres

    You’re doing a great job! Keep going! Good luck! :)

  12. Charlie April 4, 2020 at 2:35 am - Reply

    My wife lost her ring and it cost us $10,000. I should have known. Thanks,

  13. Kenya Sweemer April 5, 2020 at 9:45 pm - Reply

    Thank you for the insurance article.

  14. Greg Gramm April 6, 2020 at 4:41 pm - Reply

    I was just looking this up for my soon to be wife. Good to know about getting insurance on her engagement ring!

  15. Sandy April 12, 2020 at 3:34 am - Reply

    I assumed my rings were covered on my home insurance! Good to know!

  16. Maury April 17, 2020 at 6:45 am - Reply

    The public needs to know you need homeowners insurance does not cover jewelry very good, you need to have a jewelry policy!

  17. Ella April 23, 2020 at 7:37 am - Reply

    I need to get my wedding ring insured!

  18. Fran April 24, 2020 at 5:32 pm - Reply

    My wife is happy to have her jewelry covered, it gives her peace of mind to buy this insurance

  19. Adriana Whitehead May 30, 2020 at 3:54 am - Reply

    Good info if you need to get your jewelry covered, don’t assume!

  20. Rochell Zeavala May 31, 2020 at 4:34 pm - Reply

    I have a very expensive engagement ring and need to get it insured.

  21. Debbie D June 1, 2020 at 11:58 am - Reply

    If you have expensive jewelry make sure you get it insured correctly

  22. Kristy Yarish June 5, 2020 at 12:01 pm - Reply

    Ring insurance is important

  23. Jason D June 22, 2020 at 12:03 am - Reply

    My wife needed this coverage in the past and grateful we had it! Buy this for your expensive jewelry!

  24. Sandy June 22, 2020 at 9:35 pm - Reply

    I’m happy I insured my mom’s wedding ring properly

  25. Sandy July 15, 2020 at 12:03 am - Reply

    Noone wants to pay for it until its too late

  26. Mandy September 7, 2020 at 9:25 am - Reply

    I’ve worried about my rings but now I don’t have.

  27. Samuel September 8, 2020 at 4:25 am - Reply

    My Rolex from grandpa should have some insurance, I love this thing

  28. London September 12, 2020 at 2:58 am - Reply

    My fiance has a $10,000 engagement ring, we gotta get some of this!

  29. Erica V October 21, 2020 at 1:28 am - Reply

    I’ve had a couple friends lose their wedding rings, I’m sorry to hear about it and why I just keep buying this

  30. Barry January 26, 2021 at 11:07 pm - Reply

    My wife lost her engagement ring, we didn’t have any insurance on it. Annoying

  31. Shirley February 1, 2021 at 6:01 am - Reply

    Hi there. I found your website by means of Google whilst looking for a related subject, your site came up. It appears great. I have bookmarked it in my google bookmarks to come back then. I need help sometimes, Shirley

  32. Cani February 1, 2021 at 11:24 am - Reply

    Great post. I am going through a few of these issues as well.. Cani Mart Naima

  33. Gerry February 10, 2021 at 11:20 am - Reply

    Really good idea to protect your jewelry

  34. Nancy Grayson February 10, 2021 at 8:16 pm - Reply

    I really am clumsy with my rings, I’ll get them insured with you. Thanks

  35. Abby W February 11, 2021 at 4:20 am - Reply

    My mom had her $40,000 ring stolen at a restaurant parking lot, it was terrible

  36. Karen W February 11, 2021 at 1:11 pm - Reply

    I lost my engagement ring, help!

  37. Brian February 18, 2021 at 4:49 am - Reply

    My wife lost her ring, too late to buy it, @#$%^@#

  38. Oscar February 26, 2021 at 6:29 pm - Reply

    Thanks Colligan, interesting article.

  39. Danny February 27, 2021 at 10:57 pm - Reply

    My best friend lost a $50,000 ring once, it was terrible, I bet she wishes it was insured now

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