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Is Jewelry Covered Under Homeowners Insurance?

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Shuman Roy is an entrepreneur, business owner, and musician. He started RoysNoys, LLC in 2013 as a music production and education service company. He also offers small business consulting and advisory services to help businesses get from start-up mode to turn-key operations. Shuman earned his M.B.A from the Stern School of Business in 2001...

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Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency...

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Reviewed byJoel Ohman
Founder, CFP®

UPDATED: Mar 13, 2020

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Insurance Q&A: “Is jewelry covered under homeowners insurance?”

There are a host of contents insurance coverage questions related to homeowners insurance policies.

But we typically aren’t too concerned about it until the damage occurs and the insurance claim is filed. This is where the confusion, and sometimes anger, sets in.

It’s recommends that you first learn how to read a homeowners insurance policy prior to filing a claim to avoid any potential surprises.

The good news is jewelry is covered on the typical homeowner’s policy. But like many aspects of insurance that aren’t fully understood by the insurance-buying public, there are a few hitches…

What’s the Deal with Jewelry Coverage?

Your policy’s coverage limit for “contents” in the home is generally 50% of the value for which the home is insured.

For example, if your home is insured for $300,000, you contents are insured for $150,000.

Your home’s “contents” can be generically described as the items that would fall out of your home if you turned it upside down and shook it hard enough.

(Do I need to inventory my home’s contents?)

So, up to $150,000 in coverage would exist for your jewelry then, right? Case closed? Not so fast.

Similar to cash, silverware, guns, some computer equipment and musical instruments, and business personal property, jewelry fits into a special category of exposure to a “loss.”

Specifically, these items are targeted for theft. And are all items thieves tend to go after when stealing from a home

(Top 10 contents insurance claims)

These items are regularly targeted outside of the home as well, which greatly increases the chance of them being stolen.

As a result of this well documented fact, homeowner’s insurance policies usually contain a sub-limit of liability for these types of belongings.

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What’s a Sub-Limit?

Simply put, the items described above ARE NOT covered for full value under your home’s “contents” coverage.

Your insurer limits the amount of coverage to a (much) smaller limit for these items. If your jewelry (or guns and furs, etc.) aren’t worth more than the sub-limit, you can stop reading now. If you have higher value items, read on.

The good news is a homeowner’s policy will certainly allow you to purchase additional (higher) limits for these target items for an additional insurance premium.

You will want to look into a Personal Articles Floater (PAF) if you desire/need the most comprehensive coverage available for your high-ticket items.

The PAF offers coverage anywhere in the world and even potentially insures you against losses involving “mysterious disappearance” and in some cases, even a diamond that fell out of a setting.

Final Word

Contact a local independent insurance agent for PAF policy quotes if you have high dollar or impossible or difficult to replace items in your home that fit the above list.

You will likely find the cost to properly insure these items is a drop in the bucket versus the cost to replace them in the event they are stolen.

(photo: Koshyk)

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