It’s hard to imagine losing your precious jewelry, especially if it’s a family heirloom that you've cherished for years or an expensive ring gifted by a special someone. But “life happens”, and we all know that unexpected conditions can occur anytime. 

Maybe you're on a cruise and your ring accidentally falls off into the ocean, or the antique locket you’ve had in your family for generations suddenly disappears from your hotel room. Either way, your glistening treasure is gone forever, even though the memories remain etched in your heart. 

Protecting your jewelry by having insurance is a smart move. However, if your jewelry collection is worth a lot of money, your standard-issue insurance probably won't cover the full value of your jewelry. Even worse; a jewelry-specific rider added to your homeowner’s policy has its limits. That’s where jewelry insurance comes in.

What exactly is Jewelry Insurance?

Just as your car insurance protects you in the event of an accident, a jewelry insurance policy will help protect your beloved jewelry from financial loss if your jewelry is stolen or damaged. Notably, companies with stand-alone insurance policies also fix jewelry if it gets broken, as well as pay for its loss if it gets stolen.

Jewelry insurance policies also provide coverage for what is known as “mysterious disappearance.” So if you are unsure whether your jewelry was stolen or just misplaced, you can apply for a claim with your policy to recover the value of the lost jewelry. On average, you can expect to pay an extra $1-$2 in insurance premiums for every $100 your jewelry item is worth.

We will look at the best options for buying jewelry insurance as well as the pros and cons of each option. Most importantly, we'll examine what factors might make a potential option more or less appealing.

Jewelers Mutual: Best Overall

Perhaps the best known on our list, Jewelers Mutual has been in the market since 1913 and has an A+ Superior rating from AM Best. The company offers personal insurance jewelry policies that cover theft, loss, damage, and disappearance “unless the loss is caused by a peril that is excluded.” The coverage is also worldwide, so your sparkling assets are covered no matter where your travels take you. The company also covers the ‘mysterious disappearance’ of your jewelry when you can't pinpoint when or where the item went missing.

What’s more: Jewelers Mutual is flexible, with a range of insurance policies that can be tailored to fit your specific needs. You can choose whether or not to have a deductible for your policy. A zero deductible option means that you won't have to pay an increased cost of insurance premium for filing a claim. But like with other policies, the size of your jewelry insurance policy will depend on how much it is appraised for.

Also, it is important to note that their contract exclusions include loss of jewelry due to civil authority (lawful seizure/confiscation), general wear and tear, intentional acts, rodent damage, military/war action, or anything involving illegal money. 

• You can preview a sample policy online. 
• You can file a claim and follow up on the process entirely online. 
• You can avail a personal jewelry insurance plan with no deductible.
• All major perils and risks, including mysterious disappearance, are covered.

• Losses shared with other parties will not be paid for.
• This coverage excludes damage caused by animals or pests in addition to intentional actions and war.

Jewelers Mutual will charge an average of $100 (with a $0 deductible) each year in premiums to insure earrings worth $10,000. 

Lavalier: Best for New Jewelry 

Lavalier offers reliable insurance with a great reputation, either as a standalone policy or as scheduled items with blanket coverage for your entire collection. 

The company provides insurance as an “All-risk” policy, which allows you to cover any type of loss. This includes theft, loss, damage, disappearance, and newly acquired jewelry until it is added to your policy. However, there are a few exceptions to the coverage, such as manufacturer defects, intentional acts, rodent damage, war, and nuclear hazards. 

Lavalier offers coverage limits of up to $50,000 per jewelry item and higher limits if approved by underwriting. You'll need an appraisal less than 18 months old for any jewelry items appraised at $5,000 or more. For items less than $5,000, a detailed sales receipt will suffice for valuation. Deductibles are flexible and go from $0 to $25,000. That said, the more you pay upfront, the less you pay overall. That’s not all; Lavalier also offers lower rates for insuring multiple items and attractive discounts for insuring unscheduled jewelry items that do not have an appraisal.

• This is a “full coverage” policy with very few exclusions.  
• It provides worldwide coverage
• Sizable discounts on insuring multiple jewelry items
• No contact information required for a free quote

• The maximum amount of coverage provided is $50,000, with only occasional exceptions to this rule.

A policy for a $10,000 wedding ring will typically cost $100 to $200 per year. 

Zillion: Best Coverage for No-Deductibles

As a consumer, the biggest complaint about jewelry insurance is the high deductible.

But policies from Zillion eliminate this problem by offering replacement coverage with no deductible. This means you won’t have to face any unexpected, hidden charges when you file a claim, which makes it our best choice of coverage with no deductible.

The policies are underwritten by AXA XL, a subsidiary of AXA Insurance, which is one of the largest insurance companies in the U.S. and it recently earned an A+ ("Superior") financial strength rating from AM Best. Jewelry coverage from Zillion acts as a safety net against a variety of situations including theft, loss, damage, and disappearance. Another added bonus: Zillion’s worldwide coverage means that even when you are traveling in a foreign country, you can rest assured that your claim will be addressed with a sense of urgency. 

While the company doesn’t explicitly mention getting an appraisal for your jewelry, you’re advised to get one to make sure you're reimbursed for its true value. If that’s not all, you should also note that there’s no increase in your premiums due to a single claim. And if you’re sending a damaged item in for repair, the company even offers free prepaid shipping protection on all jewelry repairs.

• Zero Deductible Policy Options
• Competitive quotes in terms of cost 
• 30-day Money back guarantee 

• Contact information is a must to get a quote by email 
• Claims can only be filed via the website & customer service may take at least 24-hours to process. 

In general, you should be prepared to pay about $1 to $2 for every $100 the ring is worth.

Chuub: Best High-Value Insurance

Chubb is one of the leading home insurers in the USA with a financial strength rating of A++ by AM Best. A reliable insurance company that offers jewelry insurance both as a stand-alone policy or as a scheduled item, Chubb provides worldwide coverage for damage, loss, theft and mysterious disappearances. Claims for sudden and accidental damage from catastrophes like hurricanes, floods or earthquakes are covered. The company only requires appraisals for items worth $100,000, and you don’t need to worry about paying a deductible. 

Chubb offers a cash settlement policy that guarantees 100% of the agreed value, in cash, if your jewelry item is stolen, damaged, or cannot be repaired. Another unique feature of the Chubb jewelry insurance policy is that newly-purchased jewelry is covered up to 25% of its current insured value for the first 90 days. But above all, what earned Chubb a spot on our list is its commitment to pay up to 150% of the amount of your policy if the value of your item increases.

As a specialist, the company also offers additional insurance solutions for your most valuable goods, such as family heirloom pieces, custom-made jewelry, and wedding gifts. However, quote prices are not available online and you may have to get in touch with their registered agents to get a quote for your policy. 

• Their agreed value policy guarantees that you'll receive 100% of the amount promised if you ever need to make a claim for lost or damaged jewelry.
• You only need an appraisal if the item is valued at over $100,000.
• Will pay upto 150% of the amount of your policy if the value of your item increases.

• It is necessary to work with a registered agent to receive a quote.

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