Jewelry, Collectible Items, and Furniture: Does Your Policy Cover Their Full Value?

Written by
December 14th, 2012

While furniture, clothing, and electronics are covered under your homeowner’s or renter’s policy;  jewelry, works of art, valuable collections (coins, etc.) may not be covered up to their full value depending on the type of loss and endorsements included in your policy.  That means, that unless it is specifically scheduled on your policy, the beautiful necklace your husband gave you last Christmas, if lost, may not be replaced by your insurance company.  These items are considered luxury or collectibles by insurance companies and are only covered for a minor dollar amount (often around $1,000) for loss by theft on most standard policies.  You may have no coverage at all if they are simply lost or misplaced.  As anyone who owns a nice engagement ring or a pair of grandma’s diamond earrings knows, $1,000 is not usually enough to cover one piece let alone a few if you are fortunate enough to have them.

Through your existing insurance policy, you can schedule your items to cover the cost of your prized valuables.
Surprisingly, coverage isn’t as expensive as you would imagine! Coverage is usually available between 30 cents and a $1.50 per 100 dollars of appraised value.

Say you want to insure $10,000 worth of jewelry, the policy could be less than $100 dollars a year! Knowing that your precious valuables will be covered in their entirety from theft, flood, or mysterious disappearance (losing a diamond from your engagement ring) is well worth the money spent.

Wisconsin residents, if you are interested in finding out what other items you may want to consider scheduling other than jewelry (fine art, guns, hearing aids, bikes silver, musical instruments, etc.), please contact us.


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