How Do I Get Insurance For Jewelry?

When deciding upon whether or not to insure a particular piece of jewelry, the amount of whatever it is worth should be known or found out. Sentimental value cannot be bought with money, nor is money lost on sentimental value alone, so deciding on how much it is liked should not be a factor when considering insurance. Only the amount the piece of jewelry is actually worth should be the factor when deciding how much insurance should be taken out on it. So, if the unforeseen circumstance arrives that the piece of jewelry needs to be replaced, it should only be insured up to what the actual monetary value is of that particular piece of jewelry.

The whole purpose of insuring jewelry is not to gratify our sentimental loss, cause there is not a price tag in the world that can bring that back. The whole purpose of insuring jewelry is to enable one to replace the lost piece of jewelry with either an exact replica or another piece of jewelry of similar worth without having to fork out the entire payment yet again for what the jewelry is worth all due to misfortune.

Be sure to know your home insurance policies before insuring jewelry! You may be paying extra already in your home insurance to cover additional coverages such as jewelry in the home! Also, when you insure jewelry, be sure to know allof the clauses! For example, many times there is a list of under what circumstances the piece of jewelry will be insured for and what it won’t. Same goes for your home insurance as well if it covers jewelry. For example, maybe you have it insured if you lose it, but not if you ruin it, or vice-versa. If it is important enough to insure, then it is important enough to insure it for all possible casualties pertaining to the piece of jewelry that may or could arise.

Some very important questions to ask when insuring jewelry is if you change your mind on the amount you want to insure it for, what are the policies regarding that, and the time frame you have to make such changes. Another important question is what the company’s best deal is for insuring. For example, you may have a ring that is worth eight thousand dollars, but if the insurance rate to insure for five thousand dollars is a much better deal than to insure for the entire eight thousand dollars, it may be wise to only insure for the five, especially if it would be easy for you to fork out the remaining three thousand should something happen. It would not be wise, however, to insure it for something way WAY more than it is worth, cause then if something did happen and you needed to use your insurance, it would look like insurance fraud.

Another important question to ask is if your home owners insurance already covers jewelry, how much does it cover and under what circumstances will it cover it for? You can take that amount and subtract it from the rest of the needed amount when trying to decide how much to insure a piece of jewelry for.

After you insure it is very wise to keep such important documents in fire proof boxes since companies get changed and bought out all the time so they may not even have record of your insurance purchase, or they may not look adequately enough to find it and so may claim they have no record. Bottom line is never rely on someone else to look up and verify your insurance purchase. Always be prepared. And always have it in writing and signed, and stamped if possible.

No matter what you are insuring, it is always wise to make sure you have the best deal, make sure everything that you need coverage for is covered, and make sure you are not double paying through two separate insurances! You can get insurance quotes online at