October 30, 2013

My Engagement Ring is Covered by my Homeowners Insurance, Right?

Just because you have homeowners insurance does not necessarily mean that your engagement ring or any other jewelry will be covered. Many policies include coverage up to a certain amount on jewelry, but it is usually a very small amount.

There are several items including jewelry, art and some electronics that must have a specific kind of policy called scheduled personal property coverage. They are fairly inexpensive, usually costing between $1-$2 per thousand of what your ring is valued at. For example, if your ring is appraised for $5,000 then your policy would cost around $50 per year. However there are some tips to remember:

  • Bring a recent appraisal to the insurance agent when insuring jewelry. This will prove what the current value is to be insured.
  • Ask lots of questions to avoid not getting the correct coverage. Some policies will cover only theft, while others will cover theft as well as if you lose it.


Without the proper knowledge this could be very confusing. You should contact Brewer-Lloyd Insurance Group to find out what all of your options are. They will make sure you have the appropriate policy when insuring your engagement ring.