Jewelry Insurance: What it is and How to Get it

You purchase insurance policies for lots of things: your car, your home, yourself—but what about insurance for your jewelry? 

When buying a valuable piece of jewelry, insurance policies are often overlooked. But considering the national average cost for an engagement ring is $6,000, it’s definitely something that’s worth talking about. 

So, let’s talk about it! In this post, you’ll learn the ins and outs of insurance for jewelry: what it is, how it works, and how to get a policy that ensures your treasures are covered. 

What Is Jewelry Insurance?

Jewelry insurance is, as its name implies, insurance for your jewelry. Whether you’re buying a diamond engagement ring, a pair of earrings, a gold bracelet, or a necklace, a jewelry insurance policy is something you purchase to protect your investment. 

Many people rely on their homeowners insurance policies to protect their jewelry, but those insurance policies may not cover the full value the way that standalone jewelry insurance policies do. Homeowners or renters insurance policies only cover a portion of the item’s value, and in many cases where damage or loss is involved, it doesn’t cover the item at all.

Purchasing a standalone jewelry insurance policy for each valuable item you own is a great way to cover the gaps left by renters or homeowners insurance policies.  

How Does Jewelry Insurance Work?

When you purchase an engagement ring or other valuable piece of jewelry, you’re often given the option to add a jewelry insurance policy to your order. You may also be offered a warranty, which is not the same thing as jewelry insurance

For a monthly premium, your jewelry is protected should something happen to it. While jewelry insurance can’t magically replace your ring if it’s lost or stolen, it can cover the entire replacement value of your jewelry’s worth. 

What Is Covered in Jewelry Insurance?

A good jewelry insurance policy will cover the full value of your jewelry in the event of several different things: loss, accidental damage, theft, or natural disaster. 

The best jewelry insurance policy will be easy for you to purchase. At Zillion, we aim to make things as easy as possible by offering standalone jewelry insurance policies at lower rates, without having to fill out pages of forms, and with a $0 deductible. 

Do I Need Jewelry Insurance?

That all depends on what type of jewelry you wear. If you buy earrings or necklaces from a big-box retailer, probably not. If losing your $15 ring won’t cause you to lose any sleep at night, you’re probably good without one. 

However, if you’re buying jewelry with significantly higher value—think diamond engagement rings, necklaces with precious gemstones, etc.—then you absolutely do need jewelry insurance. The monthly premium for jewelry insurance is significantly lower than having to shell out the $3,000 it would take to replace a lost or stolen diamond ring. (Zillion’s premiums start at around $2/month.)

How Do I Get Jewelry Insurance?

We are so glad you asked! As we mentioned before, when you purchase an expensive piece of jewelry, you’re usually given the option to purchase an insurance policy to protect your investment. At Zillion, we make buying insurance for jewelry fast, easy, and affordable with our 1-click insurance. 

When you buy your jewelry from one of our trusted jewelry partners, you’re offered an insurance policy directly to your phone when you buy your ring. There’s no lengthy paperwork, and your policy goes into effect immediately. Zillion customers enjoy $0 deductibles, an easy claims process, zero impact claims (meaning that filing an insurance claim will never result in an increased insurance rate), and faster replacement times. 
With Zillion, you do more than just wear your jewelry—you wear it with confidence.


Zillion partners with jewelers to offer their customers lower rates on jewelry insurance. If you don’t see your jeweler on our list, we’re sorry, we won’t be able to offer you a quote for insurance. If you purchased from a Preferred Jewelers International retailer please email us at and let us know the name of the retailer. Thank you.