Does Homeowners Insurance Cover Gems and Jewelry?

What is My Homeowners Insurance Policy's Sub-Limit For Jewelry?

Although the contents of your home may be covered for losses up to a specified amount, certain categories of contents may be subject to caps, known as sub-limits, on what you can claim for a loss. For example, although a policy may insure the contents of your home up to $100,000, your coverage for jewelry may have a cap of $1,000.

Some homeowners policies may have higher jewelry sub-limits, but the bottom line is that these amounts are small fractions of your contents coverage amount. Coverage for sub-limited items is also normally subject to your homeowners policy deductible.

You don't need to have appraisals for your jewelry in order to file a claim under your homeowners policy.

What Risks Does My Homeowners Insurance Policy Cover?

Homeowners insurance usually covers theft for the contents of your home, but other kinds of risks may fall outside your coverage. What about damage to your jewelry and "mysterious disappearance?" If your items are lost, damaged, or stolen outside your home, are you covered?

Can I Purchase Additional Coverage?

You may be able to purchase additional coverage for your collection without the need for an appraisal. Blanket coverage for your collection may be an affordable option if you possess many low-value items. However, if you possess high-value pieces, have them appraised and scheduled or itemized for additional coverage.

How Can I Determine if a Gemstone or Jewelry Piece is Worth Appraising and Scheduling?

Is that green gem in the brooch you inherited really an emerald? Gemstone identification isn't easy, sometimes not even for the experts. If you have a piece you think might be particularly valuable, have it identified by an independent gemology lab and appraised. Should the replacement value for the piece exceed your jewelry sub-limit under your homeowners policy, consider getting additional coverage.

Trying to decide if getting an appraisal for additional coverage is worthwhile? International Gem Society members can consult our Gem Price Guide for standard retail prices for particular gemstones. Of course, the value of individual stones will vary, and these tables don't factor in the value of jewelry settings. Although a professional gem and jewelry appraisal is the best way to determine insurance value, this guide can help you get a ballpark estimate.