Does Homeowners or Renters Insurance Cover My Jewelry? We Have Answers…

Protecting your belongings with a renter’s (or homeowner’s) insurance policy is important. And since you have these policies to cover you...

In life, it’s important to assess and mitigate risks. To weigh those risks against rewards. Of course, insurance is one well-understood avenue to take the proper precautions and install a safety net of sorts. But is it really…well-understood? Especially when it comes to…jewelry insurance?

Chances are you choose to protect your valued at-home belongings with a renters (or homeowners) insurance policy. In fact, purchasing and maintaining this kind of insurance is probably a deeply ingrained, nearly reflexive behavior. And since you have these insurance policies to cover your expensive possessions (such as laptops, HD televisions, furniture, and more), you might just assume they’ll also cover your diamond engagement ring. However, this might not be the case.

Many times, trusting your renters or homeowners insurance to cover your jewelry might not be the best idea. And more often than not, an engagement ring insurance policy (or other jewelry insurance policy) might be exactly what you need to secure greater protection and peace-of-mind. Here at Zillion, we’re dedicated to all things related to jewelry insurance. We welcome any and all opportunities to share some insights and tips on this often-misunderstood matter. Join us as we take a closer look now…

Wondering If Engagement Ring Insurance Covers Loss?

Picture this: you’re on your honeymoon, in a beautiful state of newly-wedded bliss. You take your engagement and wedding rings off to go on an exciting 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 all about it, leaving it behind somewhere in the hotel. In cases like these, your renters insurance will likely cover the engagement ring in the first scenario – the theft – but only up to $1,500. When it comes to scenario number two? Sorry, but you’re totally out of luck here. You have zero coverage.

Is Your Jewelry Covered By Insurance At Your Home?

Well, sorta…

If your jewelry is inside your residence when disaster strikes, the renters/homeowners insurance extensions provided to your treasured belongings typically aren’t enough to cover the full value of your items — especially if someone breaks into your home and steals your jewelry. Again, there’s a $1,500 special limit for theft of jewelry. That’s it! That’s all you’ll get, no matter what your prized piece is actually valued at (or what it means to you). There’s simply no chance that you’ll receive a single penny more…provided your claim is accepted in the first place.

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

Standard jewelry protection under homeowners insurance policies also doesn’t include lost items…and you can forget all about any coverage for damaged jewelry. If you chip or otherwise damage your diamond engagement ring, renters/homeowners insurance won’t cover fixing or replacing it. Not 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 the drain in your kitchen sink) is typically not included in this list of “perils” that can easily befall you – and such a tiny object as a diamond ring – at your apartment or house.

Let’s Talk About Claims, Bay-bee

a diamond engagement ring is worth insuring

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

Obviously, if a true disaster strikes (flood, fire, hurricane, tornado, etc.), you’ll want to file a renters insurance claim. But if your jewelry is stolen from your home, apartment, or elsewhere, is it worth risking 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 renters or homeowners policy due to a jewelry loss? (We’ve seen it happen before!)

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 all the valuable and valued items within it. But since items like your diamond engagement ring, wedding band, or other pieces of jewelry tend to go with you, renters and homeowners insurance policies often fall short when covering those items.

OK. So What IS the Best Way to Protect My Jewelry?

When it comes to wearable items (like engagement and wedding rings), a specialized, standalone jewelry insurance policy is your best bet to ensure full coverage. The best jewelry insurance policies are especially helpful. But…why?

Why Is Specialized Jewelry Insurance Best For Protecting Your Jewelry?

  1. An engagement ring insurance policy or other jewelry insurance policy will cover your precious piece or pieces in the unfortunate event of loss, theft, damage, fire, flood, and other disaster situations — and they’ll cover the full value of the insured item. But full value item coverage isn’t the only reason you should protect your ring or other prized piece with a specialized jewelry 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 plan with you, no matter where you live. So when you move from one place to another, there’s no need to go through the lengthy process of adding your jewelry to your new renters or homeowners 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, the best jewelry insurance policies will have flexible deductible options (there are even some with no deductible, like the one we offer at Zillion), whereas your renters insurance policy 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 Ring Really Worth a Jewelry Insurance Plan?

The answer to this question really just depends on how much your ring or other prized piece of jewelry means to you! Remember, jewelry is more than just something you wear. Your jewelry is an investment, a potential family legacy piece, and can surely possess significant sentimental value. In some cases, it can even be a possessed, haunted heirloom. We strongly recommend covering your new rings, earrings, bracelets, etc. with a standalone diamond engagement ring policy or jewelry insurance policy — it’s just the best way to guarantee your valuable items are truly covered, dollar-for-dollar, step-by-step.

At Zillion, we pride ourselves on offering some of the very best jewelry insurance plans available in the online space today. 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 — each and every time, no matter where you go or what happens to you and your prized piece(s). We also encourage you to read some of the many favorable Zillion reviews before you dive in!


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.