We all have possessions that we hold close to our hearts, but few are as personal, sentimental, and valuable as jewelry. Whether it’s an engagement ring, a family heirloom, or a luxurious treat for yourself, your jewelry represents cherished memories and significant investments. While many homeowners’ policies offer some level of protection for personal belongings, jewelry often requires a closer look to ensure it's fully covered. Here's why:

The Limits of Standard Homeowners Policies

Many homeowners’ policies provide coverage for personal property, but there are usually strict limits on high-value items, including jewelry. For example, a standard policy might cap reimbursement for jewelry losses due to theft at just $1,500. If your collection is worth more than that—or if you lose a piece to an accident, not theft—you may be underinsured without additional coverage. It's also important to consider your deductible, or the amount of risk you retain. If you have a $2,000 deductible and a $2,000 loss, essentially you have no coverage.

Why Jewelry Insurance Matters

Jewelry insurance or scheduled personal property coverage can fill the gaps in a basic homeowners’ policy. Here’s what it offers:

• Expanded Coverage: Protection against a wider range of risks, including accidental loss or damage.
• Higher Limits: Coverage that matches the full value of your cherished pieces.
• Peace of Mind: No need to second-guess whether your treasures are properly protected.

How to Get Started

1. Appraise Your Jewelry: Get a professional appraisal to determine the value of your items.
2. Review Your Policy: Check your homeowners’ policy for existing coverage limits on jewelry.
3. Schedule High-Value Items: Work with your insurance provider to add specific items to your policy or secure standalone jewelry insurance.

Your Security, Your Choice

Protecting your jewelry doesn’t have to be complicated. By taking a few simple steps now, you can ensure that your valued pieces are covered, no matter what life throws your way. Let us help you explore your options and find the best solutions for your unique needs. Click here for an appointment with the team for a free consultation!

This material is meant for general illustration and/or informational purposes only. Although the information has been gathered from sources believed to be reliable, no representation is made as to its accuracy. This material is not intended to be construed as legal, tax or investment advice. You are encouraged to consult your legal, tax or investment professional for specific advice.