Most Homeowner’s policies limit coverage for jewelry to only $1,500 for theft on premises. If you have an HE7 policy with the ‘extended enhancement’ endorsement most carriers increase the limit to $5,500 total and significantly broadens the coverage, however the limit per item is $1,500.
If the value of your items exceed the limits mentioned above, Kaitlynn Tatum of Fogle Insurance suggests that you ‘schedule’ your jewelry on your homeowners policy or put it on its own policy (called a Personal Inland Marine Policy).
Tatum explains “Scheduling your jewelry ensures you get the full appraised value of the item after a covered loss. It also broadens the types of losses covered to include ‘mysterious disappearance’ which will cover if the item is lost.” The general cost to schedule your jewelry is 10% of the appraised value of the item if added to your homeowner’s policy. If you insure it on a Personal Inland Marine Policy the cost is a little bit more but claims on this policy typically do not effect the homeowner’s policy premium.
Depending on the value of the scheduled item the insurance carrier may require that you provide a recent appraisal before coverage is provided. You should have your jewelry appraised every few years to make sure you have enough coverage on the item.
One very notable suggestion from Tatum, it is important to routinely take inventory of your valuable personal items and make sure that you have adequate coverage. Taking photos or videos of the items with a time stamp, receipt, or appraisal, when available, is a great way to catalog your items.
Tatum elaborates “other items that can be scheduled on your homeowners policy are fine arts, musical instruments, antiques, silverware, electronics, gun, furs, and collectibles.” Memories many of our pieces hold can never be replaced but protecting your pieces through insurance can ease the monetary loss.
In most households, assets change often – so now is a great time to contact your agent to set up a time to review your policy and go over any additions or changes to your assets.
“Denver Citizen – 2021-03-05.” The Denver Citizen – Lake Norman Media Group, 05 Mar. 2021,