Does homeowners insurance cover my jewelry?

Yes, but usually with strict limits that surprise people. A standard homeowners insurance policy covers jewelry, but it caps how much it will pay for theft of jewelry, often around $1,500 to $2,500 total. That sublimit applies no matter how much your jewelry is actually worth, so a valuable piece can be badly underinsured.

For example: Your home is burglarized in Atlanta and a $9,000 engagement ring is stolen. If your policy has a $1,500 theft sublimit on jewelry, that is all it will pay toward the ring, leaving you to absorb the remaining $7,500. The full personal property limit on your policy does not override that special jewelry cap.

There is also the question of which perils are covered. The base policy may pay for theft and fire, but it often will not cover simply losing a ring or accidentally dropping it down a drain.

Scheduling valuable jewelry on what is called a personal articles floater, sometimes added as an endorsement to the policy, closes this gap. Scheduling raises the coverage amount to the item’s appraised value, usually removes the deductible, and broadens coverage to include accidental loss and mysterious disappearance.

On an engagement ring, a watch, or inherited pieces, scheduling is a low-cost way to close that gap, and a licensed advisor can confirm what fits your situation. Want help making sure your valuables are fully protected? Get a free coverage review today.