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Guard Your Gems: Your Guide to Jewelry Insurance

Your home is full of wonderful things. From your TV to the furniture to your treasured pieces of jewelry, it’s worth understanding how best to protect these belongings. Homeowners tend to overlook safeguarding their gems because they stash them away in a safe or hide them in an unsuspecting drawer. Yet, thieves are smart and there is always a possibility that damage or loss will come to your jewelry. To help, we’ve rounded up what you need to know about jewelry insurance and how best to protect these pieces.


What is the best way to insure my jewelry?

Your homeowners or renters insurance policy is the best basic way to protect to your prized pieces of jewelry. Your policy can help reimburse you if your jewelry is lost or damaged due to theft, vandalism, fire, and other covered perils. Keep in mind that while your homeowners or renters insurance policy protects your jewelry, it doesn’t cover wear and tear. If your watch face gets scratched, you can’t turn to your policy for help.


What about extra coverage?

It is worth noting that every policy has limits. If your insurance policy will only pay out $1,500 to cover your jewelry from damage, and your jewelry box worth $5,000 gets stolen, you will have to pay out-of-pocket to cover the remaining $3,500. If you have high-ticket jewelry pieces, it is worth considering extra coverage.


Extra coverage is additional insurance coverage for special items, such as your jewelry, camera, fine art, or musical instruments, that you add onto your home or renters insurance policy. It may also be called a ‘jewelry floater’ or ‘scheduled personal property coverage’. Since high-value items are more likely to be stolen, consider adding on this extra protection for peace of mind.


Get started by securing the right protection for your jewelry needs.  Visit Abbate Insurance for your insurance policies in New Haven and neighboring cities in Connecticut to get started.

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