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Did He Put a Ring On It?


NY jewelry insurance is limited on a homeowners policy.

Were you lucky enough to be the recipient of a gorgeous piece of jewelry for Valentine’s Day? You’ve had enough time to thank that special someone for the extra-special holiday gift, but you probably have forgotten to speak with your personal risk advisor to make sure you have enough NY jewelry insurance on your home insurance policy.

Homeowners insurance provides very broad coverage for many of the belongings that you own, but you need to read the fine print to find the section on jewelry coverage.

Most policies place a specific limit of $1,500 or $2,500 on homeowners insurance. That is the most NY jewelry insurance you have if the jewelry is damaged or stolen.

That means the most you will collect from your homeowners insurance is $2,500, even if your piece of jewelry is worth $5,000, $10,000 and more. However, this can be avoided if you separately schedule the valuable jewelry on your homeowners policy or buy a separate policy altogether.

Once the item is scheduled on your homeowners policy, you’re covered for the full amount if it is lost, stolen or destroyed. Just make sure to have an appraisal to ensure that you can prove your jewelry was worth the price you say.

NY jewelry insurance is typically fairly inexpensive. A $15,000 diamond engagement ring may cost anywhere from $150 to $300 to insure on an annual basis. Deductible options as low as no deductible can increase or decrease your overall pricing. This is a small price to pay for the peace of mind of knowing that your jewelry is insured to value.

Protecting your valuables from loss is an affordable option for anyone with treasured belongings. Whether you just need jewelry insurance or want insurance for multiple valuables, The Murray Group offers plenty of options. Our personal risk advisors will help you obtain the coverage you need.

We understand that your needs may change after your original policy purchase. As part of our LiveSECURE 365™ process, we go beyond our original transaction to make sure you are properly covered in the case of a loss. After a loss is not the time to find out you are underinsured.

If you need to update your policy for your valuable jewelry or other valuable items, please call our personal risk advisors today. Our best-in-class team will work with you to provide professional advice and trustworthy options.

Live Secure 365,

Ryan Murray

VP, Risk Consultant