Insuring Diamond Rings and Jewelry

Most homeowners and renters insurance offers protection on personal property.

However, this insurance is somewhat limited when it comes to your fine jewelry.

Many standard policies put limits on how much you will be compensated should your piece of jewelry be stolen or considered a loss for insurance purposes.

An example… after your deductible, you are covered at $1000 per piece with a maximum of $2000 per incident.

That is why it is best to make sure to schedule your fine jewelry.

By doing so, you can insure the jewelry for much more.

You will need at the very least your bill of sale for the ring and perhaps a certified appraisal to adequately insure your ring.

Be sure to ask your insurance agent what types of losses would be covered – theft? stone falling out of the setting? taking the ring off and leaving it someplace on accident?

Will the policy cover your ring if it is damaged? Be sure you know what kinds of losses are covered and what amounts you will be compensated for in each instance.