Jewelry, Valuable Items & Engagement Ring Insurance | Travelers Insurance (2024)

What does jewelry insurance cover?

Jewelry and valuable items insurance can help cover jewelry – including engagement rings and wedding rings, collectibles, sporting equipment, electronics and more – if it is stolen or damaged in a covered event. A typical homeowners insurance policy without apersonal articles floater (PAF) may not cover or provide enough coverage for those valuable items. That’s where jewelry and valuable items insurance can help.

How much does jewelry insurance cost?

Jewelry and valuable items insurance costs vary according to the value of items covered and depending on where you live. In general, jewelry insurance may cost between 1% to 2% of the value of your jewelry or valuable item. For example, a $5,000 engagement ring could cost as little as $50 per year to insure – with a $250 deductible.

Is it worth it to get jewelry insurance?

Only you can decide whether your cherished jewelry or valuable items are worth protecting with insurance. Ask yourself the following questions to explore whether jewelry and valuable items insurance is right for you:

Personal articles floater (PAF)

This itemized coverage can help give you some peace of mind should covered possessions be lost. Offered as protection for valuables, a PAF policy can be purchased separately.

Consider a PAF policy for:

• Engagement & wedding rings
• Jewelry
• Watches
• Silverware, china & crystal
• Antiques
• Fine art
• Stamp and coin collections

• Bicycles
• Sports equipment
• Sound equipment (recorders)
• Cameras
• Computers
• Musical instruments
• Golf equipment

Adding jewelry coverage to homeowners insurance

Available as an add-on coverage to homeowners insurance, a Valuable Items Plus endorsem*nt can offer expanded protection and higher limits on certain types of valuables. Unlike the PAF, where items are individually listed, the Valuable Items Plus endorsem*nt provides blanket coverage that affords protection for a class of property collectively, such as jewelry, up to a certain amount. This jewelry insurance coverage insures against many risks, such as lost or stolen jewelry.

Tips to protect your possessions with valuable items insurance coverage

You may think that a homeowners insurance policy provides adequate coverage for your valuables, but policies may provide limited or no coverage for expensive items that are damaged or stolen. For example, if jewelry valued at $2,000 is stolen from your home and you have a $1,000 policy limit, you can only receive $1,000 from your insurer to replace the missing items. That’s when a personal items floater (PAF) may help. This coverage can help protect you from the loss of high-end valuables such as jewelry, furs, antiques, artwork and collectibles.

Read below for more considerations when deciding if you need valuable items coverage.

Read your insurance policy

Your insurance policy is a contract between you and your carrier. This document includes the limits of how much you will be compensated when certain valuable items are damaged or stolen. Note that certain items may not be covered, so be sure to carefully review your policy to determine whether you have insurance that meets your needs. If you have questions, contact your insurance agent.

Have your valuables appraised

You may have possessions that are worth more than you think. To help you decide whether you need additional coverage, it may be helpful to have them appraised. An appraisal can help you determine if your homeowners insurance policy covers the full value of your property, as some items may not be covered.

It may be necessary to have your valuables reappraised periodically. If they increase in value, you may need additional coverage.

Be sure to list all items of value and include copies of receipts or appraisals when possible. This may help you if you ever need to file a claim.

Take stock of your personal computers and electronic equipment

In our increasinglydigital world, people depend on personal computers and other individually owned computing devices to perform their jobs and maintain social connections. In recent years, many new technology platforms have been developed that we may use in our daily lives. If you keep high-end computers and other advanced electronics in your home, you may want to check if your homeowners policy will cover their loss.

Get clear on your options by speaking to an insurance agent

Your need to insure valuable items is something you may want to discuss with your agent whenever you buy a homeowners policy. If you purchase additional coverage for high-cost items, it is a good idea to understand its limits and exclusions.

Protect your valuable items by choosing the coverage that meets your needs.