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Homeowners and renters insurance policies may include some coverage for jewelry, but it’s typically insufficient. Since jewelry is relatively easy to steal, coverage is usually capped at $1,500. Whether you have a shiny new engagement ring or a precious family heirloom, a standalone jewelry policy can be an affordable way to protect yourself from financial losses in the event your jewelry is damaged or stolen. Though jewelry insurance can’t cover the sentimental value of your pieces, it can offer financial peace of mind. While the best jewelry insurer for you will depend on the pieces you own and your coverage needs, this list of the best jewelry insurance companies is a great place to start.
To help you narrow down your options, we compared the largest jewelry insurers nationwide. We evaluated premiums, coverage and exclusions, plan benefits, National Association of Insurance Commissioners (NAIC) complaint rates, and how easy it is to get quotes and apply, including whether appraisals are required.
Best Jewelry Insurance of 2023
- Best for Choosing Your Own Jeweler: Jewelers Mutual Insurance Group
- Best for Engagement Ring Insurance: BriteCo
- Best for Low Premiums: WAX
- Best for Easy Quotes: GemShield
- Best for Discounts: Lavalier
- Our Top Picks
- Jewelers Mutual Insurance Group
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Best for Choosing Your Own Jeweler : Jewelers Mutual Insurance Group
Jewelers Mutual lets you choose the jeweler you work with, making it a great choice if you have an established relationship with a jeweler you trust to repair your valuables. You don’t need to supply personal information to get a quote, nor do you need to provide an appraisal to get coverage. Jewelers Mutual provides high coverage limits relative to other insurers and will discount your premium if you have a home security system.
Quick and easy online quote
No appraisals required in most cases
Far fewer complaints with the NAIC than expected
Can choose your own jeweler
Replacements are of like kind and quality
Slightly higher premiums than some other companies
Jewelers Mutual has been around for over a century. It's built a reputation for reliability, works with jewelers nationwide, and offers robust coverage, including mysterious disappearance coverage and worldwide travel. (Note that mysterious disappearance is not typically covered by a homeowners insurance policy).
You can get a replacement of like kind and quality from the jeweler of your choice, and the company has excellent customer service reviews on Trustpilot plus far fewer complaints than expected with the NAIC. It also has an A+ (Superior) financial strength rating with AM Best.
Unlike some other companies, however, Jewelers Mutual excludes coverage for damage from critters. If you’re not wearing your watch or jewelry, make sure you store it securely where pets and pests can’t reach it.
Best for Engagement Ring Insurance : BriteCo
BriteCo offers comprehensive coverage for engagement rings, and only excludes things like prior damage, wear and tear, and voluntary separation. The company even provides some limited coverage for preventive maintenance.
What’s more, you’re covered for up to 125% of your jewelry’s original appraised value, which is helpful if the appraised value of your engagement ring increases. And pricing for engagement ring coverage is also very affordable at BriteCo. The company offers the second lowest premium of the insurers we reviewed, with discounts for storing your jewelry securely.
Excellent pricing for engagement rings with no deductibles
No complaints with the NAIC
Coverage for up to 125% of the appraised value
Offers comprehensive coverage, including some preventive maintenance
Must provide personal information to get a quote
BriteCo policies come with high coverage limits—you can insure up to $150,000 per item and $500,000 per policy. While the company offers discounts for security measures such as safes and alarms, they may be required for larger policies. Unfortunately, BriteCo’s quote process requires your personal information and isn’t as streamlined as some. But you can apply entirely online and start claims online as well.
BriteCo has excellent customer reviews on Google and hasn’t received any complaints with the NAIC in recent years, which indicates that the company has few issues with customer satisfaction. BriteCo policies are also backed by an insurer that holds an A+ (Superior) financial strength rating with AM Best, which highlights a superior claims paying ability.
Best for Low Premiums : WAX
WAX offered the lowest premiums of the jewelry insurance providers we reviewed, for both watches and engagement rings. The company, which offers coverage through Chubb, is also a great choice for people insuring a large collection of jewelry and other collectibles such as watches, handbags, and shoes. There are high coverage limits of $1 million or more, and appraisals are only required for items worth $100,000 or more.
Once you’re a policyholder, you can download the WAX Insurance app and snap a picture of each new jewelry item you want to add to your collection. You can receive a quote and pay for additional coverage in minutes via the WAX app. In some states, you can even take out a loan against your collection.
Lowest quotes of any provider we reviewed
No coverage limits
Pays up to 150% replacement value
Easy to add new jewelry with the WAX app
Policies pay cash at agreed value
Online quote only available via WAX app
WAX provides worldwide coverage for loss, fire, theft, earthquake, flood, and breakage. And if you insure multiple pieces, you’ll be covered for up to 150% of each piece’s value, up to the policy limit, should its market value increase. But the platform isn’t designed for shopping around. You’ll need to supply your contact information to have a quote emailed to you or download the WAX app.
WAX Insurance is underwritten by Chubb, which has been in business since 1882 and holds an A++ (Superior) financial strength rating from AM Best. The company also had fewer complaints than expected in recent years, given its market share.
Best for Easy Quotes : GemShield
GemShield has one of the easiest quote and application processes of the insurers we reviewed. You can get a quote in less than a minute without providing any personal information, or you can speak to an agent if you need help. You can also apply online and have coverage in minutes. You can even start claims and request policy changes online. However, you’ll need an appraisal for items worth $5,000 or more. A sales receipt may be accepted for items under $5,000.
Robust coverage that includes mysterious disappearance
Quick and easy online quote
Far fewer complaints than expected with the NAIC
Multiple policy and jewelry specific discounts
Appraisal required for items valued at $5,000 or more
GemShield provides robust, nationwide coverage—there are only a few exclusions, including intentional loss or damage, manufacturer’s defects, and situations such as war or nuclear hazard. New jewelry you buy even receives limited coverage for 30 days until you add the piece to your policy.
What’s more, GemShield's insurance parter that issues the policies, StarNet Insurance Company, has an A+ (Superior) financial strength rating from AM Best, which indicates superior claims paying reliability. And the company had far fewer complaints than expected in recent years with the National Association of Insurance Commissioners (NAIC).
GemShield’s pricing was reasonable based on the quotes we gathered for wedding rings and watches, but it wasn’t the cheapest. However, you can get discounts for multiple policies as well as other discounts specific to your jewelry and situation. Note that GemShield policies have a maximum limit of $35,000 per piece and $100,000 per policy.
Best for Discounts : Lavalier
We found that Lavalier offered reasonable pricing and a wide variety of discounts, including savings for having a home safe, home alarm, or gemstone grading report. You can also save if you keep your jewelry in a bank vault or safe deposit box. Another way to reduce your premium is to choose a higher deductible.
Offers security and gemstone grading discounts
Flexible deductible amounts
Quick and easy online quote and application
Offers an unscheduled jewelry endorsement
Appraisals required for items worth $5,000 or more
Coverage may not be available for standalone watches
No online claims
Lavalier offers flexible deductible amounts from $0 to $25,000. You can also insure a variety of items under $1,000 with the unscheduled jewelry endorsement from Lavalier, which can be an affordable way to cover a lot of different pieces.
Lavalier has a simple quote tool that doesn’t require you to enter personal information. You can apply online as well, but you can’t start a claim online. You’ll need an appraisal for items worth $5,000 or more, and there’s a $50,000 single item limit and a $150,000 policy limit. One of the downsides of choosing Lavalier is that watches require underwriting review and may not be eligible for standalone scheduled coverage. You can, however, include watches as part of a schedule with other jewelry.
Lavalier’s underwriter has an A+ (Superior) financial strength rating with AM Best, indicating superior reliability when it comes to paying claims. The company has a good customer satisfaction record—it received far fewer complaints than expected in recent years. Lavalier offers robust coverage, only excluding intentional damage or loss, manufacturer’s defects, and rare circumstances such as nuclear hazard and war.
For no-commitment quotes, start with Jewelers Mutual, GemShield, and Lavalier. Without providing your contact info, you can easily get an idea of cost. We found that WAX offered the lowest premiums, but only by a small margin.
However, WAX caters to consumers with both jewelry and other valuable collectibles. If you have a collection and add to it frequently, WAX is a good option. But choose Jewelers Mutual if you want quick coverage for your jewelry without an appraisal, and opt for BriteCo if you want the most robust engagement ring coverage.
Get an Appraisal
With most companies, you’ll need an appraisal. Sometimes, you can submit less expensive pieces of jewelry with only a receipt. WAX Insurance offers digital verification with a photo and description. But even if an appraisal isn’t required to apply for coverage, you should consider getting one for high-value pieces to avoid disputes during the claims process. Remember, you won’t be able to appraise a lost or stolen piece of jewelry after-the-fact.
Apply for Coverage
Some companies make it easy to apply entirely online, while you may need to apply by phone with others. When you apply, you’ll pay your first premium (most companies offer monthly payments), which will activate your coverage.
Update Your Coverage
If you add new jewelry to your collection and want it covered, you’ll need to request a change and pay the new premium. Some insurance companies also recommend you get an updated appraisal for your pieces every two years, in case their value changes.
Frequently Asked Questions
How Much Is Jewelry Insurance?
Your annual premium for jewelry insurance and watch insurance will depend on the value of your jewelry, your location, and the deductible you choose. Most jewelry insurers estimate that you’ll pay between 1% and 2% of the value of each piece you insure. At GemShield, our pick for the top jewelry insurance provider, the premium you’d pay for a $10,000 item with a $0 deductible would be $150 in San Diego; $200 in Brooklyn, New York; or $110 in Columbus, Ohio.
How Do I Insure a Ring?
You’ll want to start by getting a premium estimate from a handful of jewelry insurance companies. Compare the coverage offered at different companies. Then, ask each company questions like:
- How will I prove my ring was lost?
- Is the policy a repair and replacement policy?
- Can I choose the jeweler I work with for repair or replacement?
- Does coverage extend out of the country?
- What are the exclusions?
Does Homeowners Insurance Cover Lost Jewelry?
Homeowners insurance does not cover accidental loss of jewelry. You’ll need to either purchase an endorsement or a standalone jewelry policy for mysterious disappearance to be covered. Most homeowners policies will cover theft, but the limit for jewelry is typically capped around $1,500.
How Does Jewelry Insurance Work?
When you apply for jewelry insurance, you’ll pay a premium, or a monthly or annual fee for coverage. In exchange for that premium, your insurance company will agree to provide reimbursement for repair or replacement of your jewelry in the event of a covered loss. Your policy will state what is covered and what is excluded, but jewelry insurance generally covers things like theft, damage, and accidental loss.
If something happens to your jewelry and it’s covered under your policy, you’ll file an insurance claim. You’ll work with your insurer to settle the claim, and they’ll write you a check for the amount you need to either repair or replace your jewelry. Typically, that amount is based on an appraisal.
To choose the best jewelry insurance companies, we compared premium quotes for engagement rings, wedding rings, and watches across the largest jewelry insurers nationwide. We also evaluated whether discounts and monthly payments were available and whether there were membership or other requirements to get coverage.
We placed particular importance on the ease of the application process, evaluating whether online quotes were available without submitting personal information and whether appraisals were required. We also looked at how comprehensive the coverage was at each company and whether policyholders could file a claim online. And we checked both complaint data with the NAIC and financial strength ratings to determine reputability, eliminating any companies with serious customer satisfaction issues.
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BriteCo. "5 Star Engagement Ring Insurance With BriteCo’s Best Price & Coverage Personalized for You."
BriteCo. "Does Renters Insurance Cover Jewelery?"
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Chubb. "Our History."
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GemShield. "Personal Jewelry Insurance Quote," Click "What Are the Appraisal Requirements?"
AM Best. "StarNet Insurance Company."
GemShield. "Personal Jewelry Insurance Quote."
Lavalier. "Quick Quote."
Lavalier. "Frequently Asked Questions," Click "What Is "Unscheduled" Coverage?"
Lavalier. "Frequently Asked Questions."
AM Best. "Berkley National Insurance Company."
NAIC. “Berkley Natl Ins Co National Complaint Index Report."
GemShield. "GemShield Personal Jewelry Insurance."