Insuring Your Diamonds: A Luxury Item Worth Protecting

Insurance Influencer: Michelle Silvester

They say diamonds are a girl’s best friend—but even the best relationships need protection. When it comes to fine jewelry, assuming your homeowners insurance has you fully covered can be a costly mistake. Most standard policies offer limited protection for jewelry— typically no more than $2,500 for theft or loss. For luxury items such as engagement rings, tennis bracelets, heirloom watches, or designer necklaces, that simply isn’t enough.

To safeguard these treasured pieces, it’s essential to either schedule each item on your homeowners policy or, better yet, obtain a standalone jewelry insurance policy. Scheduling requires documentation: a paid receipt or professional appraisal, and a photo of the item— preferably taken within three years of purchase. This process ensures your insurer recognizes both the item’s existence and value.

However, for high-end collections, a separate jewelry policy is often the smarter choice. Not only can it provide more comprehensive protection, but it also prevents jewelry-related claims from impacting your home insurance record or premiums.

Equally important is confirming your coverage includes mysterious disappearance. Unlike theft, which involves evidence of a break-in, mysterious disappearance covers those all-too-common mishaps—like a lost earring during travel or a ring that simply vanishes without explanation. These are among the most frequent and heartbreaking jewelry losses, and they aren’t always included in standard policies.

In the world of luxury, details matter—and that includes how you protect your most precious possessions. Whether your jewels hold sentimental value, significant investment, or both, the peace of mind that comes with proper coverage is priceless.