Home insurance: how to insure jewelry in case of theft

insurance appraisals

Home insurance: how to insure jewelry in case of theft

How to secure jewelry? To insure the jewelry stored inside the house there is no more effective formula than to contract a home insurance that includes this coverage (you have to request it in an extraordinary way). However, it is common for insurance companies to establish a limit, above which they cannot be insured -or it is penalized with a high annual fee-. Despite the multitude of areas covered by the insurance sector, it has not developed a specific product to protect jewelery or valuables.

Jewelry, pearls, precious stones and objects composed of precious metals (gold, silver and platinum, especially) that are stored or located inside the home are considered jewels. Often times, insurers separate them from general content, unless their value is low. Another important aspect when securing jewelry is where it is stored: whether or not it is protected in a safe. Depending on this variable, a small difference will have to be paid in the annual premium.  

It is pertinent to consider hiring a policy of these characteristics when the house houses objects of great value. But it can also be hired if you have works of art, old books, collectible furniture or collections in general. These special items, such as jewelery and trinkets, will be compensated for their actual value at the time of the loss.

What will they ask us in case of theft? In this situation you will need make a complaint to the police, to present it in the insurance. You will have to do the list what is missing and estimate the value thereof. Important: The complaint must be made within 72 hours of the event. Then the insurance expert will appear to make a recognition and evaluate the damages caused. Therefore the steps to follow are the following:

1. Notify the company It is mandatory to notify the insurance company within a maximum period of 7 days from the moment we have learned of the loss.

2. Damage estimate The insured must send a report in writing within a maximum period of time after notifying the claim indicating the list of the goods that have suffered damage, as well as an approximate valuation of said damage.

3. Circumstances You are also obliged to communicate how the claim occurred and under what circumstances, so that the insurance company can determine whether or not these circumstances are covered by the policy. Generally, everything is done through a single document called a “claim report” that the insurance company usually gives us once the home insurance has been contracted. Failure to send this information and / or the deadlines may lead to non-payment of compensation by the insurer, so as soon as we know the claim, it is advisable to start assessing the damage and fill in and send the claim report.

An important tip It is important to make an inventory with a detailed description of the jewelry with photos of everything when making the insurance, and if possible make the information on the policy. Also keep all the possible invoices or sales tickets for them and if you have the gemological certificate of the jewel, surely it will be very useful. And finally, close the door of the house well when you go on vacation or the insurance will claim negligence in the custody so as not to pay you compensation.


If you want to make an official appraisal report to inventory jewelry for insurance, we recommend TJM Appraisals and Art and Diamonds . Official certified experts with extensive experience in the appraisal of jewelry, art and antiques.

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