A Guide to Insuring Jewelry, Engagement Rings, and Valuables
May 19, 2025
Jewelry often holds both sentimental and financial value. Whether it’s a family heirloom passed down through generations, a brand-new engagement ring, or a luxury watch you’ve treated yourself to—these items deserve the kind of protection you can count on. The truth is many people don’t realize that standard home insurance policies may not fully cover high-value items. At Sparks Insurance, we understand how important these possessions are, and we’re here to help you make sure they’re properly protected.
What Your Standard Policy Might Not Cover
Most homeowners or renters insurance policies include personal property coverage, but there are often limits on specific categories like jewelry. For example, if your engagement ring is stolen, your policy might only cover up to $1,000 or $2,000 per item. For most people, that’s not nearly enough to replace what was lost.
How to Make Sure You’re Fully Covered
To get more complete protection, you might want to consider something called scheduled personal property endorsement. This add-on to your existing policy lets you individually list your valuable items—like rings, watches, or collectibles—along with their appraised values. It typically expands your coverage to include things like accidental loss (think losing a ring at the beach) or damage.
If you’d rather keep your jewelry insurance separate, there are also standalone policies that offer specialized protection without affecting your homeowners insurance premium.
Why Appraisals Matter
To insure your jewelry properly, you’ll need to know what it’s worth. This is where appraisals come in. Most insurers require an appraisal for items above a certain value. It’s a good idea to update appraisals every few years, especially as market values change. That way, you’re not underinsured if something unexpected happens.
How Much Does Jewelry Insurance Cost?
Insuring your jewelry is usually more affordable than people think. Premiums typically range from 1% to 2% of the item’s appraised value per year. So, for example, insuring a $5,000 engagement ring could cost as little as $50 to $100 a year. Your rate may vary depending on factors like the item’s value, where you live, and the deductible you choose.
Not Sure Where to Start? Here’s a Quick Checklist:
Review your current policy. Take a look at what your homeowners’ or renters’ policy does and doesn’t cover for valuables like jewelry.
Assess your coverage needs. Decide if you’d prefer to add an endorsement to your policy or get a separate jewelry insurance policy.
Talk to a professional. Work with an independent insurance agent (like us!) and a licensed appraiser to make sure your coverage is accurate and up to date.
At Sparks Insurance, we’re all about helping you protect the things that matter most. If you have valuable jewelry, collectibles, or other treasured items, let’s talk about how to make sure they’re properly insured. We’ll walk you through your options, answer your questions, and help you choose coverage that fits your needs and budget.
Contact us today to discuss how we can assist you in protecting your jewelry and valuable items with coverage you can trust.
