BriteCo
Appraisal required?
Yes
Choose your own jeweler for repairs?
Yes
Average insurance cost for a $10,000 jewelry piece
$148 a year
Learn More 
Via BriteCo's Website
Yes
Yes
$148 a year
Elizabeth Rivelli has nearly five years of experience covering insurance for finance publications. She has expertise in various insurance lines, including car insurance, health insurance, travel insurance, life insurance and others. In her writing, she aims to make insurance more approachable and understandable for people in all stages of life. Elizabeth also writes for several insurance company blogs.
Elizabeth Rivelli
Elizabeth Rivelli has nearly five years of experience covering insurance for finance publications. She has expertise in various insurance lines, including car insurance, health insurance, travel insurance, life insurance and others. In her writing, she aims to make insurance more approachable and understandable for people in all stages of life. Elizabeth also writes for several insurance company blogs.
Amy Danise is the managing editor for the insurance section at Forbes Advisor, which encompasses auto, home, renters, life, pet, travel, health and small business insurance. She is a highly experienced editor, writer and team leader with an extensive background in the insurance sector. With a career spanning more than three decades, she has focused her work on consumer-oriented publications.
Fact Checked
Amy Danise
Amy Danise is the managing editor for the insurance section at Forbes Advisor, which encompasses auto, home, renters, life, pet, travel, health and small business insurance. She is a highly experienced editor, writer and team leader with an extensive background in the insurance sector. With a career spanning more than three decades, she has focused her work on consumer-oriented publications.
Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.
If you own fine jewelry, like an engagement ring or a luxury watch, it’s important to protect your pieces with the best jewelry insurance. Standard homeowners insurance policies have limited coverage for theft, and the personal property portion of a home insurance policy may not be sufficient to cover valuable jewelry and all your other belongings.
A stand-alone jewelry insurance policy, like the ones we analyzed below, can be a smart way to fully insure jewelry.
Read more
Show Summary
- The Best Jewelry Insurance Companies
- Summary: Jewelry Insurance Company Ratings
- What Is Jewelry Insurance?
- How Much Does Jewelry Insurance Cost?
- Does Homeowners Insurance Cover Jewelry?
- Types of Jewelry Insurance
- Homeowners Insurance vs. a Stand-Alone Jewelry Insurance Policy
- How to Compare the Best Jewelry Insurance Companies
- Factors That Affect Jewelry Insurance Cost
- How To Get an Appraisal For Jewelry Insurance
- How To Apply For and Update Jewelry Coverage
- Methodology
- Best Jewelry Insurance FAQs
The Best Jewelry Insurance Companies
- BriteCo – Best for Replacement Value
- Jewelers Mutual – Best for Convenient Features
- Gemshield – Best for Automatic Coverage for New Jewelry
Summary: Jewelry Insurance Company Ratings
What Is Jewelry Insurance?
Jewelry insurance is a type of property insurance policy that specifically covers fine jewelry, like rings, necklaces, watches, earrings, and sometimes even loose gemstones. If your insured jewelry gets lost, stolen, or damaged, the insurance company pays to repair or replace the item.
Related: Best Watch Insurance
How Much Does Jewelry Insurance Cost?
Jewelry insurance costs about 2% of the coverage amount, based on Forbes Advisor’s analysis. For example, it costs an average of $80 a year to insure a $5,000 piece of jewelry.
Costs generally depend on your location and the coverage amount. The exact jewelry item—such as a necklace vs. a watch—typically does not matter.
Cost of a Stand-Alone Jewelry Insurance Policy
| Jewelry insurance coverage amount | Average cost per year |
|---|---|
|
$5,000
|
$80
|
|
$10,000
|
$158
|
|
$30,000
|
$545
|
Source: Forbes Advisor research. Based on jewelry insurance policies with a $0 deductible.
Does Homeowners Insurance Cover Jewelry?
Homeowners insurance covers jewelry under the personal property portion of the policy. However, standard home insurance policies have a special limit for theft: Only $1,500 for jewelry, watches and precious and semi-precious stones.
In addition, the personal property portion of a home insurance policy could be insufficient if you have expensive jewelry. Say you might have $250,000 for personal property coverage. If you have a family heirloom necklace worth $125,000, that one necklace will absorb half of your personal property insurance if there’s a disaster like a fire.
Check your home insurance policy for your current coverage limits. You can raise your personal property insurance amount.
Types of Jewelry Insurance
There are two main ways to get more jewelry insurance than what you’ll find in a basic home insurance policy:
- Add a floater to your home insurance policy.
- Buy a stand-alone jewelry insurance policy from a company such as those in our analysis above.
Add a Floater to Homeowners Insurance
A floater is a way to insure jewelry outside the coverage limits of a home insurance policy. By “scheduling” your personal property, such as jewelry, you can insure it for its full value, including for theft. Contact your current home insurance company to schedule jewelry. This is also called an endorsement.
Buy Stand-Alone Jewelry Insurance
A specialized jewelry insurance policy provides the most comprehensive protection for your item. You can insure your piece for its full value, and stand-alone jewelry insurance policies also provide coverage for “mysterious disappearance.” That means you don’t know how or when the item disappeared—a feature you won’t get with home insurance.
In addition, if you have to make a claim on a stand-alone jewelry insurance policy, it won’t affect your home insurance rates. Claims on a home insurance policy can lead to a rate increase at the next renewal time.
Homeowners Insurance vs. a Stand-Alone Jewelry Insurance Policy
| Standard home insurance | Adding endorsement to home insurance (scheduling personal property) | Separate jewelry insurance policy | |
|---|---|---|---|
|
Covers damage from a fire, tornado, etc.?
|
Yes
|
Yes
|
Yes
|
|
Covers theft?
|
Yes but may be limited, such as $1,500
|
Yes
|
Yes
|
|
Covers mysterious disappearance?
|
No
|
Yes
|
Yes
|
|
International coverage?
|
Yes
|
Yes
|
Yes
|
|
Replacement cost coverage?
|
Sometimes, can be added to a home insurance policy if needed
|
Yes
|
Yes
|
|
Inflation protection?
|
No
|
No
|
Sometimes
|
Related: Engagement Ring Insurance
How to Compare the Best Jewelry Insurance Companies
To find the best jewelry insurance, compare a few jewelry insurance companies and quotes. Here are some factors to keep in mind.
Cost
The average cost of stand-alone jewelry insurance per year will be about 1% to 2% of the item’s value. Forbes Advisor’s analysis found an average cost of 2% of the item’s value. If your quote is coming in higher, take more time to compare other jewelry insurance quotes.
Deductible
Whether there is a deductible will depend on how you have insured your jewelry. A deductible is the amount deducted from an insurance claim check.
- Under home insurance. If you’re insuring jewelry under your home insurance policy, your policy’s regular deductibles will apply.
- With a home insurance endorsement. If you’re scheduling your jewelry with an endorsement to your home insurance, you can likely choose a $0 deductible if you wish.
- With a stand-alone jewelry insurance policy. Some jewelry insurance policies have a $0 deductible, meaning you won’t have to pay anything toward repairs or replacement if you make a claim. But choosing a higher deductible will result in a lower premium. Insurers such as Gemshield and Jewelers Mutual have a range of deductibles to choose from, which can help you budget the insurance cost.
Coverage Limits
The coverage limit is the highest amount of money the insurance company will pay if you make a claim. This limit is typically based on the appraised value of your piece. For example, BriteCo has a maximum policy limit of $100,000, with exceptions available. MiniCo offers jewelry coverage of $1 million and more.
Appraisals
It’s common for jewelry insurance companies to require an appraisal, which is a document from a professional jeweler or appraiser that verifies the value of your piece.
Not all insurers require appraisals. It’s also smart to get a new appraisal every few years so that your insurance amount continues to match your jewelry’s value. Some jewelry insurers, like BriteCo and Jewelers Mutual, will do an annual inflation adjustment so that your coverage amount doesn’t fall too far behind the actual value of your jewelry.
Exclusions
All jewelry insurance policies have exclusions, or situations that aren’t covered. For example, jewelry insurance likely won’t cover:
- Civil actions, like the police seizing your jewelry.
- Damage due to flaws that were already present in the jewelry.
- Damage during resizing or cleaning.
- Intentional damage or loss.
- War.
Discounts
Some jewelry insurance providers offer discounts. You might be able to save money if you store your jewelry in a safe when you’re not wearing it, or if your home is protected with a security system.
Factors That Affect Jewelry Insurance Cost
The cost of jewelry insurance depends on several factors. Comparing quotes from a few different insurers can help you find the best jewelry insurance.
- Appraised value. Items with a higher value are more expensive to insure.
- Deductible: If you have a choice of deductibles, choosing a higher deductible will result in a lower premium.
- Security: If you store the jewelry in a home safe or safe deposit box, or if you have a home security system installed, you might pay less for jewelry insurance.
- Your location. Where you live has an effect on rates. For example, our analysis found that it is usually more expensive to insure a piece of jewelry in Palm Beach, Florida, than in Dallas or San Mateo, California.
How To Get an Appraisal For Jewelry Insurance
Look for a professional appraiser in your area. Most jewelry stores are able to appraise pieces. You can also search for a reputable appraiser through organizations like the American Gem Society and National Association of Jewelry Appraisers.
Once you find an appraiser, bring your jewelry and any documentation you have for the item, like the original sales receipt or certifications from the Gemological Institute of America. The appraiser will evaluate your jewelry using specialized equipment. They’ll look for things like the condition and quality of the item, the quality and characteristics of the gemstones and the quality of the setting.
You’ll receive a copy of the report, which will include the current estimated replacement value. This is the amount of coverage you should purchase. Getting your items reappraised every few years is smart, as the value of your jewelry can change.
How To Apply For and Update Jewelry Coverage
Many jewelry insurance companies offer online quotes, but in some cases you’ll need to call to get a price. When you’re satisfied with the price and level of coverage, you’ll apply for a policy and pay the premium needed for the coverage to go into effect. (Some policies require paying for the year.)
If you need to change the jewelry coverage level, you can do that online or over the phone with an agent, depending on your insurer.
Methodology
To find the best jewelry insurance we evaluated companies on these metrics:
Cost (25% of score): We analyzed jewelry insurance costs for coverage of $5,000, $10,000 and $30,000, with a $0 deductible, in Dallas, Palm Beach, Florida, and San Mateo, California. Only insurers that offer online quotes were included in our analysis.
Deductible choices (25% of score): We gave points if an insurer offers choices of deductibles. Deductible choices give you wiggle room to lower your premiums by raising your deductible.
Inflation adjustment available (25% of score): Jewelry insurance companies got points for offering an automatic inflation adjustment, which helps you keep up with inflation without having your jewelry frequently re-appraised.
Special features (25% of score): We awarded points for a variety of special features that set an insurer’s policy apart from others.
Best Jewelry Insurance FAQs
How do I make a claim on jewelry insurance?
Most jewelry insurance companies allow you to file a claim online or over the phone. You’ll need to submit a report explaining what happened and when the incident occurred. If your item was stolen, you should contact the police because you’ll need a police report to make a theft claim.
Once the claim is reviewed and approved, you will receive reimbursement from the insurance company.
How do I insure wedding jewelry?
You can insure wedding jewelry just like you would other jewelry. You’ll need an appraisal and you can use your homeowners (or renters) insurance company or buy a stand-alone jewelry insurance policy.
If you’re not yet married, you can insure an engagement ring now and add your wedding bands to the policy if you buy them later.
Does renters insurance cover jewelry?
Renters insurance provides coverage for jewelry. But like home insurance, the coverage for theft is generally limited. A renters insurance policy might have a jewelry theft limit of $1,500, but check your policy for the exact limit, or ask your insurance agent.
Does security and storage of jewelry affect insurance cost?
Good security and storage can lower the cost of your jewelry insurance. If you store your jewelry in a home safe or safe deposit box, or if you have a security system in your home, some insurance companies will give you a discount on your premium.
