Why coverage on jewelry is often limited on insurance policies

Jewelry Insurance - Advantage America Insurance Services

How to fully insure your jewelry and engagement rings

Coverage for jewelry is often limited on insurance policies. A lot of times, coverage depends on how much your jewelry is worth and the type of loss (theft, fire, etc.). Long story short: If you want to be sure your jewelry is fully covered, you need to add it to your policy.

This is technically called scheduling an item or adding a rider, but it’s really just like listing a special one-off item on your policy. If you have an Advantage America Insurance policy, just tell us about your jewelry, and we’ll insure the appraised value against a variety of types of losses. If you schedule jewelry, you won’t have a deductible.

Why isn’t jewelry automatically insured?

A lot of customers want to know why jewelry isn’t just covered. Insurance companies won’t assume that you have expensive items. You’d then be paying for insurance you don’t need. If insurers built in extra coverage to all policies for a $5,000-$10,000 engagement ring, everyone’s price would be higher. That’s the last thing everyone wants. So, insurers offer the option to add expensive items to give you and everyone a better, more accurate price.

Jewelry insurance cost

Jewelry insurance is affordable at Advantage America Insurance. It only costs 1% to 2% of the total value of your jewelry. So, a $5,000 engagement ring will cost about $50-$100/year to insure. If you’re looking for an exact price, just get a quote or contact your insurance company.

Coverages for your jewelry

 What’s covered


No matter where it’s stolen (off your body, out of your home, car, gym bag, etc.).


This potentially covers both total and partial damage. For example: A prong on your engagement ring breaks off and you lose the diamond, a broken link on a gold necklace, a chipped silver ring.

Loss and disappearance

This is normally covered even if it’s your own silly fault, and you flat-out forget where you left it.

Types of jewelry you can insure

You can insure almost any type of jewelry, including engagement rings, other wedding rings, diamond rings, necklaces, bracelets, etc. Most insurance companies do have a maximum limit they’ll insure. That limit can vary and may depend on your policy’s total coverage amount. If you have jewelry worth more than the max insured amount, you’ll need a completely separate policy.

What’s not covered

Wear and tear

Sorry, but insurers won’t replace jewelry that simply tarnishes or gets scratched over time. For example: A gold wedding ring that’s 30 years old and is heavily scratched. Instead, something unexpected has to happen.