Jewelry Insurance Coverage in Florida

What Is Jewelry Insurance?

Jewelry insurance is specialized coverage designed to protect your valuable jewelry, watches, engagement rings, and other precious items against loss, theft, damage, and mysterious disappearance. While your homeowners insurance may provide some coverage for jewelry, it typically has strict limits and may not cover all types of losses. Dedicated jewelry insurance gives you comprehensive protection for pieces that you have spent time and money acquiring.

Why You Need Jewelry Insurance

• Standard homeowners policies usually limit jewelry coverage, often leaving high-value items underinsured
• Covers loss scenarios that homeowners policies exclude, such as accidentally losing a ring or mysterious disappearance
• No deductible on most jewelry policies, meaning you receive full reimbursement for covered losses
• Provides worldwide coverage, protecting your valuables whether you are at home or traveling
• Offers peace of mind knowing your sentimental and financial investment is protected

Common Coverages

Jewelry insurance typically covers theft, loss, damage, and mysterious disappearance of your valuable pieces. Coverage extends to engagement rings, wedding bands, necklaces, bracelets, earrings, watches, and loose stones. Most policies provide agreed value coverage, meaning you and the insurer agree on the item's value upfront, so there is no dispute about replacement cost if you file a claim. Many policies also cover damage from wear and tear or manufacturing defects. You can schedule individual items or insure your entire collection under a blanket policy.

How Much Does Jewelry Insurance Cost?

The cost of jewelry insurance depends on the total value of your items, where you live, and the type of coverage you select. Florida residents should work with The Gordon Agency to get accurate quotes based on appraisals of their specific pieces. Generally, you will need a recent appraisal for high-value items to establish their worth and secure appropriate coverage.

Do I Need an Appraisal?

Yes, most insurance carriers require a professional appraisal for jewelry items above a certain value threshold. The appraisal documents the quality, characteristics, and value of your piece, which helps ensure you receive proper compensation if you need to file a claim. You should update appraisals every few years to account for changes in market value.

What Is Not Covered?

While jewelry insurance is comprehensive, certain situations may not be covered. Intentional damage, gradual deterioration, and losses due to war or nuclear hazard are typically excluded. If you fail to take reasonable care of your jewelry or leave it in an obviously unsafe situation, your claim may be denied. Always review your policy details with The Gordon Agency to understand exactly what is and is not covered.