How much does jewellery insurance cost?
The cost of jewellery insurance will depend on the overall value of your possessions. The more pieces you want to insure, the more you will pay to cover them. Generally, you will pay about 1-2% of the total value of your items.
For example, if you have $10,000 worth of jewellery, it could cost you $100 - $200 annually. If you had $100,000 worth of jewellery, it could cost you $1,000 - $2,000 per year. Your costs are relative to the value of your possessions. Get an accurate appraisal of your items and search for insurance estimates to get an estimate of how much it will cost to protect your valuables.
Types of jewellery insurance protection
There are several noteworthy options you can add to your policy. Here are some of the key features to know about and consider:
- All perils protection: This means your stuff is protected against all types of threats, including theft, fire, and vandalism.
- Worldwide protection: This includes protection for your valuables, no matter where you are in the world. You have protection while travelling and when on vacation.
- Agreed value: Your claim settlement is paid based on the value you agreed upon when your policy was issued.
- Blanket coverage: You have protection for all your items, not just a specific piece.
- Jewellery endorsement: Go beyond your standard homeowner's plan with a customizable policy specifically designed to protect your jewellery.
What does jewellery insurance cover?
![luxury diamond ring in a jewellery box]()
Insurance offers you protection in four main areas:
- Loss: You lose your ring or watch somewhere, and you can’t find it anywhere. It is covered.
- Theft: Your keepsakes are stolen from your residence or while you are outside of the house or at work. This protection includes worldwide theft coverage.
- Damage: You catch your watch on something and it cracks the face or breaks the band. Accidental damage is protected.
- Disappearance: You can’t seem to find a piece of jewellery. You have looked everywhere. It seems to have vanished into thin air. It could have been lost, stolen, or misplaced by someone.
High-value jewellery insurance gives you peace of mind in knowing your stuff is covered if something happens to it. Get clarification about the pieces that are and are not covered when comparing quotes.
Types of jewellery covered
The types of jewellery you can include in your policy are far-reaching, but can include items such as:
- Wedding rings
- Engagement rings
- Earrings
- Necklaces, chains, pendants
- Class rings
- Wristlets, armlets, bangles, and bracelets
- Diamonds and precious stones
- Antique jewellery
- Watches
- Tiaras
- Cuff links
- Brooch
What's not covered by a jewellery policy?
There are certain situations when lost, damaged, or stolen jewellery will not be covered by insurance:
- Basic wear and tear
- Things lost, damaged or stolen because of war or military action
- Purposely damaging valuables
- Pest or rodent damage
- Other exclusions listed in your plan
In these situations, your claim could be denied.
