Insurance For Your Jewelry, Accessories and Watches

Insurance for Engagement Rings and Other Jewelry:
Your renter's or homeowner's insurance probably offers coverage for theft of jewelry, but do you know your policy's limitations?

Average Policies:
Both renter's and homeowner's insurance policies set limits for the loss of certain categories of personal property, including jewelry. Homeowner's policies typically pay a maximum of $1,000 for theft of jewelry while renter's insurance policy might have a $500 limit. Does your Homeowner’s or renter’s jewelry insurance cover provide for loss other than theft such as for lost or damaged items?

Additional Coverage:
You can usually purchase additional coverage for your fine jewelry, but it is important to ask your agent questions so that you have a good understanding of the coverage now before the loss: - Is there a deductible and how much is it and how does raising or lowering the deductible affect your policy costs?
- Is an appraisal or certification required?
- Is a store receipt sufficient?
- Are the items covered no matter where the loss happened? Example: A loss that occurs during domestic or international vacation?
- Are items covered for full replacement cost? Must you replace the item, or can you get a cash settlement?
- Does the policy cover repairs to damaged jewelry?
- How often should an appraisal be updated? Does your jewelry need regular inspections?

A Trusted Blue Nile-Chubb Insurance Solutions:
Depending on your state, Chubb's jewelry insurance costs approximately 1 to 3 percent of an item's value or a minimum premium of $50 per year. For example, insurance for a $5,000 ring would typically cost between $50 and $150 per year.

Flexible payment plan:
You may pay in full, in monthly installments, or even customize your own personalized billing plan.

Broader coverage with no deductible:
Many homeowner's insurance policies limit coverage for jewelry to as little as $1,000. Chubb can offer you protection for your jewelry and in the case of loss or damage, you'll be fully covered with no deductible.

Coverage applies anywhere in the world:
Your new purchase will be insured if it is lost or stolen wherever you go.

Cash settlement:
With Chubb, you have the option to receive a "no-strings-attached" cash settlement for any covered loss. Or, if you prefer, Chubb can arrange with Blue Nile to replace the item.

Keep in mind that rates for personal jewelry insurance may vary according to your state or country, and you can select coverage with or without a deductible.

Side Note:
All jewelry should be inspected at least once a year for reassessment of value. If your jewelry is not valued appropriately, you will not be able to recover what you need to replace it if it is lost, damaged or stolen. It may cost more up front, but when the loss happens, you get full value back. Having photos of jewelry items is also important, as lost or stolen pieces can sometimes be recreated on the basis of a good photograph. Beyond having insurance, to keep your jewelry safe you should store it in a personal safe or in a safety deposit box.Beyond having insurance, to keep your jewelry safe you should store it in a personal safe or in a safety deposit box.