Maybe your grandma slips an heirloom ruby necklace valued at $10,000 into your holiday stocking. Or perhaps you’ve got a $30,000 engagement ring on your finger.
While you think these pieces are safe if they’re stashed in a jewelry box, what happens if you lose the necklace in a house fire or the ring is stolen from your bedroom? Will your homeowners insurance cover these pieces?
A standard homeowners insurance policy covers jewelry, including losses caused by fire, a tornado, theft or vandalism. But the policy normally imposes a $1,500 limit for the theft of jewelry and watches, as well as precious and semiprecious stones.
You can raise the home insurance coverage limits for jewelry, but even those dollar amounts might be insufficient. For instance, you might pay extra to bump up the limits to $2,500 per piece and $5,000 overall—which may still not be enough.
Call Us to Discuss Your Options
You can buy additional protection by scheduling the jewelry separately or buying a standalone jewelry insurance policy.