Jewelry Insurance vs Homeowners
Should you insure your jewelry with a dedicated jewelry policy or simply add it to your homeowners or renters insurance? Here’s how the two compare.
Low coverage limits
Homeowners insurance usually covers only $1,000–$2,500 for jewelry—far less than the value of most rings. Without a rider, you could pay out of pocket. Even with one, deductibles often apply. With Jewelers Mutual, your jewelry is fully protected up to the coverage limit you choose, and we offer flexible deductible options to suit your needs.
High deductibles
Homeowners insurance deductibles are often high—because home values are significant. We offers a $0 deductible option, meaning you won’t have out-of-pocket expenses in the event of a claim.
No inflation protection
Jewelry values can change over time due to market and economic fluctuations. If your appraisal is over two years old at renewal, we automatically adjust coverage limits every two years to help keep up with rising jewelry values. This complimentary service, called Insurance Value Adjustment (IVA), is optional, and you may decline it.
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Not designed for jewelry
Homeowners insurance is designed to protect your house, not your jewelry. Unless you have a jewelry-specific rider in place on your homeowners policy, your jewelry’s probably not fully covered under your homeowners insurance alone.
Excludes common risks
Where your homeowners insurance probably doesn’t cover mishaps like lost jewelry or damaged diamonds, we do. We offer an “all perils” policy that protects your jewelry against most risks.
Risk of loss in high-risk areas
Homeowners insurers are increasingly pulling out of geographical regions prone to wildfires, floods, and other severe weather, leaving individuals without coverage in the event of a natural disaster. This is done to mitigate their own losses, potentially leaving residents in search of alternative coverage options.
Limited jeweler choices
Your homeowners insurance may direct you to a specific jeweler or repair shop following a claim, denying your wish to work with your own jeweler. With Jewelers Mutual, you have the freedom to work with your favorite jeweler.
Multiple estimates required
Homeowners insurance may require you to get several estimates. We only require one—and we collaborate with your jeweler to make your repair or replacement happen seamlessly (and we may already insure your jeweler).
Lower-quality replacements
Homeowners insurance often offers “like kind and quality” replacements or cash payouts. Jewelers Mutual replaces your jewelry with a piece of the same kind and quality as the original. Which means you won’t have to settle for second best when it comes to your most precious pieces.
A dedicated jewelry policy with Jewelers Mutual provides
Comprehensive coverage
We cover all fine jewelry. whether new or heirloom, your pieces are protected against loss, theft, damage, and more.
World wide coverage while traveling
Your jewelry is covered wherever you roam.
$0 deductible option
It's your call. You select a deductible that fits your budget and coverage preferences, giving you flexibility when it comes to both.
No coverage limits
Jewelers Mutual offers no preset coverage limits, meaning your jewelry can be insured to it's full value without caps that could leave you underinsured.
Policies that don’t impact your homeowners insurance
Our policies are separate from your homeowners insurance, so a jewelry claim won't affect your home coverage or premiums.