 Insuring Jewelry
Robert G. Carroll and Associates is one of the few insurance agencies in the Southwest that excels in insuring the personal jewelry of individuals; the premier carrier for such insurance is Jewelers Mutual Insurance Co., the only insurance company in the United States that specializes in insuring jewelry.
How jewelry is covered by typical homeowner insurance
Unscheduled jewelry and furs are typically combined for a theft limitation under homeowner insurance. Depending on the carrier, this limitation generally ranges from $1,000 to $2,500. The limit applies to the entire loss, not just each item. For example, if your have a burglary and $15,000 of jewelry and $5,000 in furs are stolen – and the limit for unscheduled jewelry and furs is $1,000, the you will receive no more than $1,000 for all of the property that was stolen.
Additionally, the typical homeowner policy insures jewelry for only “specified perils,” meaning that only those occurrences that are specifically listed on the policy are covered. Many of the things that can happen to jewelry are not included in the list of coverages, and theft coverage is severely limited.
SCHEDULING JEWELRY
Specifically scheduling jewelry by providing appraised values accomplishes two things:
- Your coverage is broadened to “all risk” or “comprehensive perils,” which means that any occurrence is insured unless there is a specific exclusion in the policy. Not only are the normal coverages of theft, fire, etc., covered, but also usually covered are such unexpected events as losing an item while swimming, accidentally dripping an item down a drain, damage to jewelry while it is being worked on by a jeweler, and mysterious disappearance.
- Your jewelry can be insured for its full replacement cost value; i.e., the insurer is obligated to replace property that is lost or damaged with “like kind and quality.” It should be noted however that intrinsic or sentimental valued cannot be quantified and thus is not insurable.
The insurance company
We insure personal jewelry insurance with Jewelers Mutual Insurance Co. JM offers a very broad insurance replacement policy at rates that are consistently lower than other options, and as a company that has specialized in insuring jewelry for almost a century, they offer friendly and efficient claims service and understand the special needs of our customers -- and in particular the importance of being able to replace jewelry through the customer’s personal jeweler instead of and “insurance replacement broker.”
The cost of scheduled jewelry insurance
Depending on where you live and the total amount insurance you wish to have covered, the cost per $100 of value ranges from $1.15 to $1.90 with zero deductible. Call us for a specific quote and answers to your questions.
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 | Our Specialities |
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 Jewelers' Insurance
Insuring jewelers is our primary focus. Contact us today for more information or a quote. more info -> |
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 Personal Jewelry
Homeowner insurance isn't adequate for fine jewelry. We also offer insurance for individuals' personal jewelry with low rates and broad coverages. Personal Jewelry -> |
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