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Jewelry insurance appeals to diamonds and heirlooms

Jewelry Insurance - Jewelry - Necklaces - Silver - Gold - Pearls

Expensive rings, necklaces, earrings, watches, bracelets and other items need separate coverage.

Engagement rings, great-grandmother’s necklace and other expensive items can benefit from jewelry insurance coverage. Their coverage under homeowners or renters policies is very limited. Often, there is inadequate protection offered for the full value of a high-value piece.

Renters and homeowners policies offer protection but only up to a certain limit for all pieces.

Homeowners and renters insurance policies will usually limit jewelry coverage at around $1,000 to $5,000. However when it comes to more expensive pieces, this is clearly not enough. This is particularly true when there are multiple high-value pieces. They require more specialized coverage in the form of riders on existing property policies, or jewelry insurance in the case of higher value pieces.

For this reason, many insurers offer the additional special policy for high-value pieces that need their own coverage against loss, theft or even damage. The coverage will usually cost about 1 to 2 percent of the total value of each item in annual premiums.