Jewelry Insurance

Jewelry insurance is a must for anyone who owns fine jewelry. In order to get jewelry insurance, you’ll first need an appraisal by a certified gemologist. Call us at (949) 992-4559 to make an appointment. We’ll give you a digital and written document with a photo, detailed description and value of your item that you can send to your insurance agent.

What do I need to get jewelry insurance?

Most insurance companies require a written appraisal done by a GIA Graduate Gemologist. Many jewelers provide appraisals, but do not have the proper certifications to do so, and the insurance companies will not accept their appraisals.

How often do I need to update or renew my appraisal?

Appraisals must be dated within three months from the date you are purchasing your insurance policy. Typically insurance companies will ask for updated appraisals approximately every 3-5 years. Some insurance companies have an automatic “inflation rider” and will increase your premiums over time, however we recommend getting your items reappraised for a more accurate value of your items as the value of gold, diamonds, and labor changes over time.

If you develop a relationship with an appraiser, getting an updated appraisal down the road is much quicker and easier since they have already appraised your items before.

How much does it cost to get an appraisal?

Appraisals cost about $200 per piece depending on complexity of the piece and if the pieces come with grading reports. We also offer an hourly rate of $300/hour (half hour minimum) if you just need a verbal appraisal or expert recommendation (sorting through costume jewelry, determining if jewelry is real or fake).

What kind of jewelry insurance should I get, Standalone Jewelry Insurance, or Homeowner’s insurance for jewelry?

We recommend always getting standalone jewelry insurance, which will cover you in the case of “mysterious disappearance.” Getting your jewelry insured through your homeowner’s insurance policy typically means it is only covered in the event you are burglarized. This is an important distinction, so make sure to ask your insurance provider when you’re obtaining your insurance.

How much does jewelry insurance cost?

Jewelry insurance is roughly $10/month to insure approximately $10,000 in value.

Here are a few examples of the breakdown of costs for full coverage insurance on your jewelry. $10k value = $10/month; $20k value = $21/month; $25k value = $27/month

Do I have to insure my items for the full amount of the appraisal?

No. You can insure your items for any amount you choose, up to the full appraised value. Our appraisals for insurance purposes are a high retail value that includes sales tax, because we want to make sure that you are covered if you lose your piece, regardless of which jeweler you decide to work with.

Who do I call to get jewelry insurance?

The best option that we know of is Jewelers Mutual.

Jewelers Mutual has also been insuring jewelry for over 100 years, you can call them at 888-884-2424 for great service. Their premium rates are based upon two factors: value of the item and your zip code.