Most homeowners and renters insurance policies do not cover high end fine jewelry. This can be a problem when something happens like maybe fire or theft which would leave you having to replace your jewelry. Each year consumers spend 50 billion on jewelry and 1 billion is lost, stolen, or disappears.
“Many homeowner’s or renter’s insurance policies provide only a basic level of personal property coverage – often in the $1,000 to $1,500 range – for items such as jewelry and furs,” says Mario Morales, director of Product Development at MetLife Auto & Home. “That’s why people with higher-valued items should make certain that those valuables are appropriately protected.”