Does Your Homeowners Policy Cover Your Jewelry

Homeowners insurance usually offers some jewelry coverage, but you’ll need an additional policy if you have expensive pieces

Most homeowners insurance has a limit of $2,500 for jewelry coverage.

If you own jewelry worth more than your policy limit, you may need to add a floater policy or purchase personal jewelry insurance.

You will need to get your jewelry appraised or have receipts to get a floater policy or personal jewelry insurance.

Jewelry is among the most expensive, valuable belongings many of us own — but because jewelry is small and easy to go unnoticed, most homeowners insurance policies only offer limited personal property coverage in the event that it’s damaged or stolen. If you have an engagement ring, heirloom, or custom jewelry pieces, you’ll need to get special coverage beyond your homeowners policy.

How much jewelry coverage does a home insurance policy offer?

Steve Wilson, senior underwriting manager at Hippo Insurance, told Insider that “coverage is built into homeowner policies for jewelry up to $2,500.” Wilson said that the homeowner and insurer agree to the appraised value. However, he noted that most companies will limit what they’ll pay for theft because jewelry is small and easy to transport.

When is jewelry covered by homeowners insurance?

There are three components of homeowners insurance: dwelling coverage, personal property coverage, and personal liability coverage. There are several types of homeowners policies based on your home, but they all fall within two categories: named peril policies or open peril policies.

A named peril policy covers you for specific listed events, like a fire, storm, or theft. An open peril policy covers just about anything that might happen, unless your policy specifically notes that it’s not covered.

Jewelry would fall under personal property with homeowners insurance and is covered if damage or theft is related to a named peril. If you have a floater policy it will include named perils and some accidents. With personal jewelry insurance, on the other hand, both named and open peril are included — meaning any event is covered.