Does renters insurance cover jewelry? (2024)

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  • Most renters insurance policies have a limit of $1,500 for jewelry coverage.
  • If you own jewelry worth more than your policy limit, you may need a floater policy or personal jewelry insurance.
  • You will need your jewelry appraised or receipts to get a floater policy or personal jewelry insurance.
  • See Insider's picks for the best renters insurance companies.

Does renters insurance cover jewelry? (1)


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Because jewelry is small and easy to go unnoticed, most renters insurance policies only offer limited personal property coveragein the event that it's damaged or stolen.

If you have an engagement ring, heirloom, or custom jewelry pieces, you'll need to get special coverage beyond your renters policy.

How much jewelry coverage does a renters insurance policy offer?

Steve Wilson, senior underwriting manager at Hippo Insurance, told Insider that "coverage is built into policies for jewelry" up to a certain amount. He said most companies will limit what they'll pay for theft because jewelry is small and easy to transport.

Most renters insurance coverage for jewelry tops out around $1,500. If the value of your jewelry exceeds this limit, you should increase your limits or get an add-on rider.

When is jewelry covered by renters insurance?

There are three components of renters insurance: personal property coverage, personal liability coverage, and loss of use.

Renters insurance covers damage to your personal property from an insurance peril. An insurance peril is an event that causes damage to your belongings, like a fire, storm, or theft.

Jewelry would fall under personal propertyand is covered if related to a named peril.

Specialty items may not be included

Special jewelry — engagement rings, expensive watches, and heirloom pieces — may not be covered in the event of theft and may require a "personal article" endorsem*nt or add-on rider, according to Wilson.

Most renters insurance coverage for jewelry is capped at $1,500. If your jewelry exceeds these limits, you should increase your limits or get an add-on rider.

If you have riders for jewelry, you will be required to catalog and provide appraisals for them.

How to get extra insurance coverage for your jewelry

You can ask your renters insurance to increase your personal propertylimit, but "the amounts are still limited for both individual pieces and overall losses," according to the Insurance Information Institute.

A second option is purchasing a floater policy as an add-on to your renters insurance. The Insurance Information Institute notes that although this is more expensive, it offers the broadest coverage, including coverage your standard renters' policy doesn't include. Your jewelry must be appraised before purchasing a floater.

A third option is to purchase stand alone personal jewelry insurance. Bryan Howard, director of product management for Jewelers Mutual, told Insider that unlike a homeowners or renters policy, "a standalone jewelry policy is a comprehensive, all perils policy, meaning it covers every type of loss unless specifically excluded."

With standalone jewelry insurance, your jewelry must be appraised. Howard noted that the premium for personal jewelry insurance is typically 1-2% of the item value. The premium will also be based on where you live, who's wearing the jewelry, and the deductible.

Here's a comparison of the jewelry coverage you can get with renters insurance, a floater policy for renters insurance, and a standalone jewelry insurance policy such as Jewelers Mutual.

Jewelry coverageRenters insuranceFloater or add-on rider to renters insuranceStandalone policy like Jewelers Mutual
LossNoYes - appraised valueYes - appraised value
TheftYes*Yes - appraised valueYes - appraised value
Damage****Yes - appraised value
Mysterious disappearance (unexplained loss)NoYes - appraised valueYes - appraised value
Claims processMay require you to use jeweler of insurance choice. May require multiple estimates.May require you to use jeweler of insurance choice. May require multiple estimates.Repair or replacement with same kind and quality (up to the value on your policy) from the jeweler of your choice; no need for multiple estimates
Effect of claimsClaims may affect status of entire policy.Claims may affect status of entire policy.No increase to your Jewelers Mutual policy premium
DeductibleSame as overall policyFlexibleFlexible

*Subject to limits

**Depends on policy

Data from Jewelers Mutual

There are two major differences between a floater add-on to your renters policy and personal standalone jewelry insurance. The first is that if you make a claim under your floater, it may impact your rates for your renters policy. That doesn't happen with standalone personal jewelry insurance.

The second is that your renters insurance floater policy may require you to use its authorized jeweler to repair or replace your item. However, standalone personal jewelry insurance works with the jeweler of your choice to replace or repair jewelry.

When should you get additional insurance for your jewelry?

If you have jewelry valued above your renters insurance personal propertylimits, you need to consider a floater add-on policy or separate standalone personal jewelry insurance. Additionally, if you have custom jewelry or heirloom pieces, like an engagement ring, watch, or necklace, you should get a separate policy.

Both a floater and personal jewelry insurance require an appraisal for the items to be insured. Normally, your jeweler will refer you to an appraisal company. If you do not have an appraisal, receipts for the items are acceptable.

How to file a claim if your jewelry is lost or stolen

Treat stolen or damaged possessions like a car accident and follow these steps to report and file a claim.

  1. Notify the police and file a police report if it is due to theft. Your insurance company may request a copy of the police report.
  2. Take pictures of damaged possessions and what caused the damage (fire, storm, etc).
  3. Contact your renters insurance company. Failure to timely notify your insurance provider can result in denying the claim.
  4. If you have a stand alone jewelry policy, contact the company.

If you insured your jewelry through your renters insurance or a floater policy, you may be required to use a jeweler of their choosing. However, if you have personal jewelry insurance, you will be allowed to have your jewelry repaired or replaced at your chosen jeweler. Your jewelry will be covered for the appraised value minus any deductible.

Ronda Lee

Ronda Lee was formerly an associate editor for insurance at Personal Finance Insider covering life, auto, homeowners, and renters insurance for consumers. Before joining Business Insider, she was a contributing writer at HuffPost with featured articles in politics, education, style, black voices, and entrepreneurship. She was also a freelance writer for PolicyGenius. She worked as an attorney practicing insurance defense and commercial litigation.

As a seasoned insurance expert with a deep understanding of the nuances within the industry, I'd like to delve into the comprehensive coverage of jewelry within renters insurance policies and the associated considerations for individuals seeking to protect their valuable possessions.

The article discusses the limitations of standard renters insurance policies, particularly when it comes to jewelry coverage. I concur with Steve Wilson, the senior underwriting manager at Hippo Insurance, who emphasizes that coverage for jewelry is typically built into renters insurance policies but is subject to certain limits. The common cap for jewelry coverage is around $1,500, a significant point that sets the stage for the need for additional coverage.

The primary concepts covered in the article include:

  1. Policy Limits for Jewelry:

    • Most renters insurance policies have a cap of $1,500 for jewelry coverage.
    • If the value of your jewelry exceeds this limit, options like increasing your policy limits or obtaining additional coverage are recommended.
  2. Types of Coverage:

    • Renters insurance generally covers personal property, personal liability, and loss of use.
    • Personal property coverage includes protection against insurance perils such as fire, storm, or theft.
  3. Exclusions for Specialty Items:

    • Specialty jewelry items like engagement rings, expensive watches, and heirloom pieces may not be fully covered.
    • Special endorsem*nts or add-on riders may be required for comprehensive coverage.
  4. Options for Additional Coverage:

    • Increasing personal property limits within renters insurance is an option but may have limitations.
    • A floater policy, although more expensive, provides broader coverage, including aspects not covered by a standard renters policy.
    • Standalone personal jewelry insurance, such as Jewelers Mutual, offers comprehensive, all-perils coverage.
  5. Appraisal Requirements:

    • Whether opting for a floater policy or standalone jewelry insurance, appraisals for the jewelry are typically required.
  6. Claims Process and Considerations:

    • Making a claim for jewelry under a floater may impact renters insurance rates.
    • Standalone personal jewelry insurance allows more flexibility in choosing a jeweler for repairs or replacements.
  7. When to Consider Additional Insurance:

    • Individuals with jewelry valued beyond renters insurance limits should consider additional coverage.
    • Custom or heirloom pieces, like engagement rings, may require separate policies.
  8. Filing a Claim:

    • The article provides a structured approach to filing a claim, emphasizing the importance of timely notifications and following the specific procedures outlined by the insurance provider.

In conclusion, the article serves as a valuable guide for individuals navigating the complexities of insuring their jewelry under renters insurance, offering insights into limitations, options for additional coverage, and the claims process. If you possess jewelry surpassing the standard coverage limits, exploring these additional insurance avenues is a prudent step to safeguard your valuable possessions.

Does renters insurance cover jewelry? (2024)


Does renters insurance cover jewelry? ›

Jewelry is covered by personal property coverage of your renter's insurance policy. The level of coverage depends on the limits set by your policy which is typically between $1,000 and $1,500 and may not cover the entire cost of your high-value pieces or your collection.

Can I claim lost jewelry on renters insurance? ›

With a standard renters policy or Extra Coverage, you're covered for pretty much any type of jewelry. Here are some common examples of jewelry you could be covered for: Rings, including wedding and engagement rings. Earrings.

Does my renters insurance cover my engagement ring? ›

The personal property coverage in a renters insurance policy may help pay to repair or replace belongings, including watches and rings, if they are stolen or damaged by a covered peril, such as a fire. Keep in mind that a coverage limit, which is the maximum a policy reimburses you for a covered claim, will apply.

What type of insurance covers jewelry? ›

Standard homeowners, renters and condo insurance covers jewelry under the personal property section of your policy (along with other belongings like clothes and furniture). These policies typically cover your stuff for events such as theft and fire.

Does insurance cover if you lose jewelry? ›

Second, jewelry is considered high-value property that can be easily lost or stolen. So policies typically have coverage limits — often between $1,000 and $2,000. For example, if you own a $15,000 diamond engagement ring, your home insurance would only cover the first $1,000 to $2,000.

What happens if I lose my jewelry? ›

Call the police where the theft occurred. Even if the police can't find the thief, they can check their own and neighboring departments' inventories of recovered items. Your jewelry may be turned in or found in the future. Contact your insurance company to report your stolen jewelry.

Should you insure a $1000 ring? ›

If your ring is worth over $1,000, it is a good idea to get it insured sooner rather than later. Engagement ring insurance protects your investment if the ring is damaged, lost, stolen, or falls victim to a mysterious disappearance.

What is typically not covered by renters insurance? ›

Damage Caused by Floods, Earthquakes and Sinkholes

Flooding, earthquakes and sinkholes are all examples of natural disasters that are not covered by a typical renters insurance policy.

Does insurance cover if a diamond falls out of ring? ›

Generally, the answer is yes. Consult your policy and look at your coverage to be sure but a jewelry insurance policy should cover a lost diamond or a damaged diamond in your ring.

Do I need to insure my diamond ring? ›

Consider buying engagement ring insurance if: You can't afford to replace the ring if it's lost, damaged or stolen. You travel often and feel the travel increases risk to your ring. You would suffer financially if the ring were damaged or lost.

How Much Should jewelry insurance cost? ›

How much does jewelry insurance cost? Rates depend on where you live, but for most people, jewelry insurance will cost 1-2% of the value of your jewelry. For example, a $5,000 engagement ring could cost as little as $50 per year to insure.

What do most home insurance policies cover jewelry for? ›

Home insurance usually limits theft coverage for jewelry, watches and other precious items at $1,500, but you can increase your coverage for jewelry by adding a floater or buying a separate jewelry insurance policy.

Why should you insure jewelry? ›

Standalone jewelry insurance typically comes with a nominal cost relative to the value of the insured items. The protection it provides can help ensure you're financially able to repair or replace your jewelry if it's damaged for a covered reason, stolen, or lost.

How do I claim insurance on jewelry? ›

Here's what the process typically looks like:
  1. Start Your Claim. Let us know what happened. ...
  2. Choose a Jeweler. Choose a jeweler to repair or replace your item. ...
  3. Pay Your Deductible. If your policy has a deductible, pay that amount to your jeweler. ...
  4. Insure Your Replacement Jewelry.

What happens if you find a ring after insurance claim? ›

You have the option of retaining the recovered property. However, you must return payment to your insurance carrier. The insurance company will pay for recovery expenses and the expenses to repair the property subject to the Limit of Insurance.

What will renters insurance cover the loss of? ›

Renters insurance can cover both your personal liability and your belongings in the event of a covered incident, such as theft, water damage, or fire. The coverage will address expenses up to the specified limits of your policy.

Does renters insurance cover lost jewelry Progressive? ›

Renters policies typically cover stolen cash, up to a certain limit, usually no more than a few hundred dollars. Valuable items, including cash, jewelry and engagement rings, furs, and firearms, often have "sub-limits" clearly stated on your policy. A sub-limit is a limit within a limit.


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