Willyn Villarica Jewelry

How Jewelry Insurance Works – A Guide

Have you thought of protecting your valuable jewelry but don’t know how?

Well, you’ve come to the right place! This comprehensive article is your guide for understanding jewelry insurance, especially if you’re based in regions like the United States (US). 

This guide will explore how jewelry insurance works, covering everything from coverage and claims to costs. Whether you’re a jewelry enthusiast or collector, this guide will provide expert knowledge and peace of mind.

Why You Should Get Your Pieces Insured

Getting jewelry insurance is particularly crucial in regions like the United States, where comprehensive jewelry insurance is readily available, unlike in the Philippines, where there isn’t an independent insurance product specifically tailored for jewelry. 

Jewelry insurance is beneficial because it handles repairs, covers high-priced items, and gives you peace of mind. Insurance lets you enjoy wearing your precious items without worrying about unforeseen circumstances. 

Handles Repairs 

Despite our efforts to prevent damage, jewelry can still be vulnerable to damage. Luckily, some insurance handles damage and repairs, ensuring you can afford any repairs without excessive costs.

Covers High-Priced Items

The extra cost might pay off over time if you own valuable items like expensive jewelry. Fortunately, insurance provides financial protection in case of loss, theft, or damage to these high-priced items. Without insurance, replacing or repairing these items could be costly and stressful. 

Peace of Mind

Lastly, getting jewelry insurance provides peace of mind, knowing that your precious items are protected against loss, theft, or damage. With insurance coverage, you can wear your jewelry confidently, knowing you have a safety net in case of unforeseen events or financial loss. 

Who Should Get Jewelry Insurance

If you own valuable jewelry, it’s wise to consider getting insurance to safeguard your investment. Insurance offers financial security against damage, whether you possess heirloom pieces or recently acquired high-end items. Moreover, if you frequently wear jewelry in public or travel often, you face increased risks of loss or theft, making insurance even more essential for peace of mind.

It’s worth noting that while jewelry insurance might not be readily available in every region, you can still acquire it as long as a suitable insurance product exists in your area.

Ultimately, jewelry insurance is for individuals like you who seek to protect their precious items and enjoy peace of mind.

Schedule an Appointment Today

Looking to get an appraisal for your valuable items?
Schedule an appointment today for a fair and accurate assessment!

Types of Jewelry Insurance and Their Coverage

In regions like the US, you can get jewelry insurance from standalone insurers or homeowners insurance companies.

Stand-alone Jewelry Insurers 

Stand-alone jewelry insurers can offer protection against valuable jewelry loss, theft, or damage. After assessing the item’s value, they may also provide financial compensation for repairs or replacements. The exact coverage depends on the insurer, so it’s wise for you to check the insurance policy and consult with your provider. 

Homeowners Insurance Companies 

Homeowners insurance companies can protect jewelry items. Homeowners insurance often includes a personal property section covering lost jewelry during travel or accidental losses such as dropping a ring down a drain. Review your policy carefully to see if it protects your valuables in all possible scenarios.

Things to Consider When Choosing a Jewelry Insurance Plan

Consider coverage options, policy limits, and deductibles when choosing a jewelry insurance plan. 

Coverage Options

When selecting a jewelry insurance plan, it’s crucial to thoroughly examine the coverage options available. Make sure it covers many scenarios, such as loss, theft, damage, and accidents. Understanding the coverage details helps you better protect your jewelry. 

Policy Limits

Aside from coverage options, you should check the policy limits to know the maximum amount the insurance will pay for a claim. Review the policy carefully to see if the coverage limits match your jewelry’s value and potential claims. You can also ask about increasing coverage limits if you have high-value pieces.


Lastly, deductibles are essential when choosing a jewelry insurance plan, as they’re the first costs you pay before your coverage begins. Some policies have varying deductibles for different types of coverage, so you should review your policy carefully to understand your financial responsibilities.

Cost of Jewelry Insurance

The cost of jewelry insurance is based on factors like your jewelry’s value, policy coverage limits, and the insurer you select. For example, insurance in the US usually covers jewelry valued at over $1,000 to $2,000, depending on the company. 

Additionally, insurance would cost 1% to 2% of your jewelry’s total value annually for a stand-alone jewelry policy. 

How to Get Jewelry Insured

Now that you know how jewelry insurance works, follow these steps to protect your valuable pieces.

Research Insurance Providers

Start by looking online for insurance companies focusing on this type of coverage. Additionally, ask friends or family for recommendations on reputable insurance providers they have experience with and trust. From there, compare coverage and reviews to choose the best option.

Gather Information about Your Jewelry

When collecting details about your jewelry, get appraisals to determine its value accurately. Save purchase receipts, certificates, and other documents for each piece. Take clear photos of your jewelry from different angles to show its appearance. Also, note any special features like gem cuts or metal types for thorough information.

Submit Documents

Ensure you’ve gathered all necessary documents, such as appraisals and purchase receipts, before submitting any paperwork. Follow your insurance company’s instructions closely to prevent any delays in processing your coverage. Also, remember to keep copies of all your documents.

Review Your Insurance Policy

Lastly, carefully review your jewelry insurance policy to understand what it covers, including coverage limits, deductibles, and exclusions for your jewelry. If you need clarification on anything in your policy, contact your insurance provider for help. Also, talk to them about extra coverage options if your current policy doesn’t fully protect your jewelry.

Related: Jewelry appraisal for insurance, why is it important?

Filing Insurance Claim for Lost Jewelry

Contact your insurance company when you need to file a claim for lost jewelry. Provide them with all the necessary information, such as a description of the lost item, its value, and any important documents like appraisals or receipts. Be ready to answer questions and provide more details if needed.

Is Jewelry Insurance Worth It?

Whether you should get jewelry insurance depends on factors like the value and sentimentality of your pieces. Compare the insurance premiums with the potential cost of replacing lost or stolen items. Jewelry insurance can provide peace of mind, so consider your situation and risk tolerance before deciding if it’s right for you.

Get Jewelry Appraisal with Willyn Villarica Jewelry

Without a doubt, jewelry insurance protects your valuable pieces, covering repairs, damages, and losses. However, to do that effectively, you need to know the actual value of your jewelry, which requires a professional appraisal.

At Willyn Villarica Jewelry, we provide reliable jewelry appraisal services tailored for insurance purposes. Our in-house expert, Ms. Willyn Villarica, is a licensed Graduate Gemologist from the Gemological Institute of America (GIA) and the only National Association of Jewelry Appraisers (NAJA) member from the Philippines, ensuring meticulous attention to detail and precision in the appraisal process.

Catering to clients around the globe, our expertise and commitment to excellence ensure that you receive personalized guidance and expert advice tailored to your specific needs and preferences. It’s important to note that while we offer our services worldwide, clients are responsible for covering all travel expenses. 

Don’t miss out on securing your cherished possessions with confidence today.

Schedule your jewelry appraisal appointment today by emailing us at admin@willynvillaricajewelry.com. You can also send inquiries through our Facebook page (Willyn Villarica Jewelry) or Instagram (@willynvillarica_jewelry). 

  • Willyn Villarica

    Willyn Villarica, a third-generation jeweler from the Philippines, brings a wealth of expertise to the world of gemology and jewelry appraisal. As a licensed Graduate Gemologist, accredited by the prestigious Gemological Institute of America, she is not only a master of her craft but also holds the distinction of being the first Filipino member of the National Associ...

Leave a Comment