Jewelry Insurance 101: Your Homeowner’s Policy Won’t Cover Your Ring, The Truth About “Scheduled” Policies and What They Really Cost.

Your homeowner’s insurance is built for the house and the stuff in it, not for a diamond ring you wear out to dinner. That’s why the most common jewelry losses—losing a stone, leaving a ring in a hotel bathroom, a bracelet snapping—are usually not covered under a standard policy. Theft is often capped at a low amount. If you want full protection, you need to understand “scheduling” and what a dedicated jewelry policy really costs. This guide explains how coverage actually works, the traps that lead to denied claims, and what a sensible plan looks like.

What your homeowner’s policy actually covers

Homeowner’s insurance protects personal property against specific risks like fire, vandalism, and theft. It does not act like an all-risk warranty for items you wear.

• Theft sublimits: Most policies cap theft of jewelry, watches, and furs at a low amount—often around $1,500 (sometimes $2,500). That cap applies even if your personal property limit is much higher. Insurers do this because jewelry is easy to steal and hard to trace.
• Named perils vs. losing something: Policies usually cover specific events (fire, theft). They typically don’t cover accidental loss or “mysterious disappearance” (you can’t find the ring and don’t know how it vanished). That’s the most common jewelry claim.
• Breakage and stones falling out: Wear-and-tear, prong failure, and chipping are usually excluded. Insurers view this as maintenance, not sudden loss from a covered peril.

What this means in real life: If your house burns down, your ring is covered (subject to your personal property limit). If your ring is stolen in a burglary, you may only get up to the theft sublimit. If you drop it down a drain or it simply disappears, you likely get nothing.

Three ways to insure jewelry (and what they really cover)

• Do nothing (rely on the base homeowner’s policy)
  Cheapest, but you’re exposed. You might recover a small amount for theft, and that’s it. This is only reasonable for low-value fashion jewelry you can afford to replace.
• Blanket (unscheduled) jewelry endorsement
  You buy an extra limit for a group of jewelry items without listing each one. There’s usually a per-item cap (for example, $1,000–$5,000 per piece). It can broaden coverage beyond theft, sometimes including accidental loss, but not always. Good if you have many modest pieces and no single high-value item.
• Scheduled personal property endorsement (itemized)
  You list each piece, describe it, and insure it up to a stated amount. This typically removes the theft sublimit and covers broader perils—including accidental loss and mysterious disappearance. Often no deductible. Best for high-value items.
• Standalone jewelry policy (separate insurer)
  A dedicated policy that acts like a scheduled endorsement, but it lives outside your home policy. It often includes repair or replacement with your chosen jeweler, worldwide coverage, and no deductible options. A big advantage: a jewelry claim won’t affect your homeowner’s claim history.

The truth about “scheduled” jewelry coverage

Scheduling is simple in concept but has details that matter.

• What “scheduled” means: Each item is listed with a description and a dollar limit (e.g., “Platinum engagement ring, 1.20 ct G VS2, GIA cert #xxxx, $8,000”). The insurer underwrites the piece and charges a rate for that value.
• Open-perils protection: Scheduled jewelry usually covers “all risks” unless specifically excluded. That typically includes mysterious disappearance, accidental loss, and breakage of stones. This is why people schedule jewelry—because the common losses are finally covered.
• No deductible (often): Many scheduled endorsements and standalone policies offer $0 deductible. You can choose a deductible to lower premium, but most people keep it at zero because claims tend to be one item at a time.
• Replacement vs. cash: Most policies promise to “repair or replace with like kind and quality.” That means the insurer can source a comparable diamond or watch from their network rather than cut a check for the full scheduled amount. If you care about using your original jeweler or brand, ask in advance how replacement works and whether a cash-out option is available.
• Agreed value vs. replacement cost: An “agreed value” endorsement pays the listed amount if the item is lost. A replacement-cost approach pays the actual cost to replace with like kind and quality, up to the limit. If you want certainty, ask for agreed value; if you want to avoid overpaying premiums on inflated appraisals, replacement cost can be more efficient.
• Pairs and sets: Some policies address pairs (earrings) and sets differently. A single lost earring may trigger replacement of the pair, but not always. Check the wording.
• Newly acquired jewelry: Many policies automatically cover new pieces for a short window (often 30–90 days), up to a percentage of the existing schedule. This buys time to get an appraisal.
• Worldwide coverage: Scheduled/standalone jewelry typically travels with you. That matters if you vacation abroad or wear your ring on a daily commute.

What it really costs

Premiums depend on value, your location, theft rates, security, and your deductible. A reasonable rule of thumb is 0.8%–2% of the item’s value per year.

• $5,000 ring: $50–$150/year in low-risk areas; $75–$200+ in big cities.
• $10,000 ring: $100–$250/year in many suburbs; $150–$300+ in dense urban areas.
• $25,000 collection (scheduled items): $250–$600/year depending on mix, security, and claims history.

Standalone jewelry insurers are often competitive with (or slightly higher than) a homeowner’s schedule, but they keep jewelry claims off your home policy. That can help avoid homeowner rate hikes after a loss. Deductibles lower the premium a bit, but the difference is usually modest.

How much to insure for (and appraisal tips)

• Insure to realistic retail replacement value: You want enough to buy a comparable piece at a typical retail jeweler, not a boutique outlier. If your appraisal is inflated, you pay too much every year. If it’s too low, you might be underpaid at claim time.
• Documentation: Keep detailed descriptions, receipts, grading reports (e.g., GIA), photos, serial/model numbers, and any custom design notes. This proves quality and makes “like kind and quality” meaningful.
• Update every 3–5 years: Diamond and gold prices move. Reappraise when markets shift or after major repairs or upgrades. Some insurers require updated appraisals for high-value pieces.
• Choose the right appraiser: Look for a credentialed appraiser who writes for insurance replacement, not estate or liquidation. Ask them to avoid “feel-good” numbers; accuracy saves premium.

Common gaps and exclusions to watch

• Wear and tear: Worn prongs, thinning shanks, loose stones, scratches—these are maintenance issues and usually excluded. Regular inspections help avoid a later denial.
• Manufacturer defects: Insurance covers loss, not defects. Use the jeweler’s warranty for craftsmanship issues.
• Unscheduled jewelry losses: If you never added the item to a schedule or policy, accidental loss is usually not covered. Keep your schedule current.
• Per-item caps on blanket coverage: A blanket endorsement may have a $2,500 per-item limit. That won’t fully replace a $6,000 ring.
• Replacement source: Policies that only replace through network jewelers may not pay you cash for the full limit. If brand or provenance matters, negotiate this up front.
• Leaving items unattended: Losses from leaving jewelry in checked luggage or unattended public spaces can be scrutinized and sometimes excluded.

Claims: what happens and how to prepare

• Report promptly: For theft, file a police report. For mysterious disappearance, document when you last had the item and what you did to search.
• Provide documents: Appraisal, photos, grading report, receipts, and any serial numbers. This speeds up matching quality for replacement.
• Inspection for damage claims: If a stone chips or a setting cracks, the insurer may ask for an evaluation to confirm it’s a sudden loss, not long-term wear.
• Replacement process: Expect the insurer to propose repair or replacement with like kind and quality. If you prefer your jeweler, ask whether the policy allows it and how pricing is set.
• Salvage: If a piece is recovered or partially damaged, the insurer may take possession of salvage if they pay a total loss. This prevents double recovery.

Smart ways to lower cost without cutting coverage

• Use a safe: A rated home safe or bank box can earn discounts, especially for items you don’t wear daily.
• Alarm and good habits: Monitored alarms, not leaving jewelry in cars or gym lockers, and removing it for yard work or swimming reduce risk.
• Schedule only what matters: Put high-value items on a schedule or standalone policy. Use a blanket for numerous low-to-mid pieces. Don’t pay to schedule items you’d self-insure.
• Choose the right deductible: If you seldom claim, a small deductible can lower costs. For most, $0 or $100 makes sense because claims are usually single-item losses.
• Consolidate thoughtfully: A standalone jewelry policy can keep future home premiums steadier after a jewelry loss. Do the math both ways.

Quick decision guide

• Under $1,000 per item: Often fine to self-insure or use a small blanket endorsement.
• $1,000–$5,000 items: Consider blanket coverage with a per-item limit that actually fits, or schedule the few you wear most.
• $5,000+ items (engagement rings, luxury watches): Schedule each item or use a standalone jewelry policy for broader protection and no homeowner impact.
• Travelers or frequent wearers: Favor scheduled/standalone policies that include mysterious disappearance and worldwide coverage.

Bottom line

Your homeowner’s policy protects jewelry from a house fire and maybe a small amount for theft, but it rarely pays when a ring is lost, a stone pops out, or a bracelet disappears on vacation. That’s why scheduled endorsements and standalone jewelry policies exist. Expect to spend roughly 1%–2% of value per year for broad, no-deductible coverage that follows you worldwide. Document your pieces well, insure to a realistic replacement value, and update every few years. The right setup turns a heartbreaking loss into a solvable problem—and keeps surprises out of the claims process.