Should You Get Jewelry Insurance?

At Nova Lita we understand deeply that jewelry is more than just a style accessory. Jewelry can also hold sentimental value and represent a significant investment. Fine jewelry, like the pieces we sell at Nova Lita, can actually appreciate in value over time alongside the rising price of gold and gemstones, and the raw materials alone hold tremendous value by themselves.

Yet jewelry is still something we all wear on a daily basis, and unfortunately we know that anything can happen! Jewelry can be a prime target for theft. Jewelry can get damaged accidentally. And sometimes we can lose jewelry when putting it in our gym bags or by leaving it in a hotel room (not that either of those have happened to me before).

That's why it's important to have your fine jewelry insured. In this blog post, we'll explore the different ways you can insure your jewelry and what types of jewelry you consider getting insured.

Why get your jewelry insured?

First and foremost, getting your jewelry insured provides you with financial protection in case your jewelry is lost, stolen, or damaged. The cost of replacing a lost or damaged piece of fine jewelry can be significant or not possible to afford, and insurance can help offset that expense. Additionally, jewelry insurance can provide peace of mind knowing that your precious items are protected.

What types of jewelry should you insure?

You should consider insuring any jewelry that holds significant value to you, both financially and sentimentally. This may include engagement rings, wedding bands, family heirlooms, and high-value pieces. Again, it's important to keep in mind that the value of jewelry can appreciate over time, so it's a good idea to have your jewelry appraised regularly (every few years) to ensure that you have adequate coverage. If the value of your jewelry is getting into the thousands of dollars, it's probably a good idea to think about insurance.

Different ways to insure your jewelry

There are a few different ways to insure your jewelry, including through homeowners insurance, renters insurance, or direct jewelry insurance.

Homeowners insurance: If you own a home, you may already have coverage for your jewelry under your homeowners insurance policy. However, this coverage is typically limited and may not cover the full value of your jewelry. You don't want to have to make a choice between replacing your bed or a necklace. If you have homeowners insurance, you may want to purchase a separate rider to add coverage for specific expensive pieces of jewelry.

Renters insurance: If you rent your home or apartment, you can still get coverage for your jewelry through renters insurance. Similar to homeowners insurance, this coverage may be limited, and you may need to purchase a separate rider if you want to ensure you have coverage both for the entire apartment, and your individual pieces of jewelry.

Direct jewelry insurance: Direct jewelry insurance is a type of insurance specifically designed to cover only your jewelry. This type of insurance typically provides broader coverage than homeowners or renters insurance and may also offer additional benefits like coverage for mysterious disappearance.


Keep in mind that insuring specific pieces of jewelry require an official appraisal. There are certified appraisers who can help provide these for you and will look at things like the jewelry materials, gemstones, and production. The appraisers might not take certain factors into account like sentimental value, or time spent designing a custom piece, but they should give an accurate value for the cost of replacement.  


Cost of the insurance is obviously something to keep in mind. If the annual insurance costs more than the value of your jewelry, then it probably doesn't make sense to get insurance. That is why we suggest only looking into it for your most valuable jewelry pieces, like engagement rings, diamond necklaces, and family heirlooms. Appraisals can cost anywhere from $50-$150 and insurance premium costs will depend on the total appraised value of your jewelry.

In Conclusion

Getting your jewelry insured is an important step in protecting your investment and sentimental items. There are several options to get jewelry insurance, including some that are probably available through your existing insurance policies. Make sure to insure any jewelry that holds significant value (sentimental or financially) and have your jewelry appraised regularly to ensure that you have adequate coverage.

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