Is My Jewelry Covered Under my Renter's / Homeowner's Insurance?

Updated: Aug 24, 2019


Protecting your belongings with a renter’s (or homeowner’s) insurance policy is important. And since you have these policies to cover your expensive items (laptops, furniture, etc.), you might just assume that they’ll also cover your diamond engagement ring—but that might not be the case.

Let’s take a look at why trusting your renter’s or homeowner’s insurance to cover your jewelry might not be the best idea.


Wondering If Insurance On Your Engagement Ring Covers Loss?

Picture this: you’re on your honeymoon, in a state of newly wedded bliss. You take your engagement and wedding rings off to go on an excursion with your new spouse. When you get back to your hotel room, you discover that your diamond engagement ring and wedding band have been stolen.


Or you’ve taken your engagement ring off to shower right before boarding your flight back home, and you forget it on the sink of the hotel. In cases like these, your renter's insurance will likely cover the engagement ring in first scenario—the theft—but only up to $1,500… And you’re totally out of luck for the jewelry left behind in scenario number 2.


Is Your Jewelry Covered By Insurance At Your House?

Well, sorta...

If your jewelry is inside your residence when disaster strikes, the renter’s/homeowner’s insurance extensions provided to your treasured accessories typically aren’t enough to cover the full value of your items—especially if someone breaks into your apartment and steals your jewelry. Again, there’s a $1,500 special limit for theft of jewelry—that’s it!


Does Your Homeowner's Insurance Cover Lost Or Damaged Jewelry?

Standard jewelry protection under homeowners insurance policies also don't include lost items… and you can forget about coverage for damaged jewelry. If you chip or otherwise damage your diamond engagement ring, renter’s insurance won’t cover fixing or replacing it at all.


Your renter’s/homeowners insurance will also only cover your items in the event of specific “listed perils” that are covered in the policy—and unlike a specialized jewelry insurance policy, loss of items (like dropping your engagement ring down your kitchen sink drain) is typically not included in this list of “perils” that can befall you at your apartment or house.


Let’s Talk About Claims, Bay-bee

If you’re found at-fault in a car accident, the subsequent insurance claim can cause a rate increase. The same rings true (pun intended) for renter’s insurance claims.


Obviously, if a true disaster strikes (flood, fire, etc.), you’ll want to file a renter’s insurance claim. But if your jewelry is stolen from your home, apartment, or elsewhere, is it worth a premium spike to claim those pieces that you won’t even get a full value return on? Or worse, what if the insurance company cancels your renter’s or homeowner’s policy due to a jewelry loss? (We’ve seen it happen!)


This is not to say that renter’s and homeowner’s insurance policies are bad—far from it! They’re necessary to protect your residence and the items within it. But since items like your diamond engagement ring, wedding band, or other pieces of jewelry tend to go with you, renter’s and homeowner’s insurance policies often fall short when covering those items.


Hmm. Okay. So What’s the Best Way to Protect My Jewelry?

For your wearable items (like engagement and wedding rings), a specialized, standalone jewelry insurance policy is your best bet to ensure full coverage.


Why Is Specialized Jewelry Insurance Best For Insuring Your Jewelry?

  1. These policies will cover your jewelry in the event of loss, theft, damage, fire, flood, and other disaster situations—and they’ll cover the full value of the item. But full value item coverage isn’t the only reason you should protect your jewelry with a specialized insurance policy!

  2. Standalone jewelry insurance policies are just like your jewelry: portable! Unlike renter’s insurance policies, you can take your specialized jewelry insurance policy with you no matter where you live. So when you move apartments, there’s no need to go through the lengthy process of adding your jewelry to your new renter’s or homeowner’s insurance policies!

  3. Additionally, claims settlement through your specialized jewelry insurance policy on a lost or stolen piece of jewelry is often faster and more efficient when your insurance company works directly with your trusted jeweler to settle your claim.

  4. Finally, jewelry insurance policies also tend to have flexible deductible options (there are even some with no deductible like the one we offer at Zillion), whereas your renter’s deductibles are typically fixed (and quite a bit more than specialized jewelry insurance plans). The last thing you want to worry about when filing an insurance claim is paying more money than necessary.


I Mean, Is My Jewelry Really Worth Insuring?

That really depends on how much your jewelry means to you! Remember, jewelry is more than just something you wear. Your jewelry is an investment, a potential family heirloom, and can have significant sentimental value. We strongly recommend covering your new rings, earrings, bracelets, etc. with a standalone jewelry insurance policy—it’s the best way to guarantee your valuable items are truly covered dollar-for-dollar.

At Zillion, we pride ourselves in offering some of the best plans available in the online space. Each jewelry item you purchase through one of our online retail partners comes with the option to buy a comprehensive, affordable jewelry insurance plan from Zillion to guarantee your new diamond rings, earrings, bracelets, necklaces, and other precious items are fully covered.

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3000 El Camino Real, Bldg. 4, Suite 200

Palo Alto, CA 94306