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TMCNet:  GEICO Says Jewelry Insurance Protects Life's Favorite Treasures

[May 17, 2017]

GEICO Says Jewelry Insurance Protects Life's Favorite Treasures

The sentimental value of your jewelry is priceless. So it makes perfect sense to safeguard life's favorite treasures in the event that it ever becomes lost, stolen or damaged. That's why the GEICO Insurance Agency recommends jewelry insurance.

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GEICO says jewelry insurance protects life's favorite treasures (Graphic: Business Wire)

GEICO says jewelry insurance protects life's favorite treasures (Graphic: Business Wire)

Why buy jewelry insurance?

Jewelry insurance is designed to protect against risks specific to jewelry. From engagement rings to diamond bracelets, a jewelry insurance policy offers comprehensive coverage against scenarios such as:

Loss - If you leave your watch on a towel at the beach and can't find it.
Theft - If someone breaks into your house and steals your bracelet.
Damage -If you hit your diamond ring against the edge of a table and it cracks.

Does my homeowners insurance cover me?

A homeowners insurance policy typically contains limited coverage options for jewelry (often as low as $1,000 - $5,000). If your jewelry is damaged or stolen, your homeowners' deductible may apply to your overall coverage. In most cases, your actual protection will be well below the cost to repair or replace your jewelry.

What about my warranty?

Most jewelry warranties contain limited coverage options. This typically includes repairs for wear and tear. Loss, theft and damage are usually excluded with some exceptions. Some jeweler warranties are only valid at the time of purchase for a limited time thereafter.

Is jewelry insurance expensive?

Jewelry insurance is relatively affordable, costing around one-to-two percent of the item's total value. A $10,000 engagement ring could cost as little as $100 per year to insure. Your actual costs may depend on factors such as the amount of coverage needed, type of coverage options you choose, and the deductible amount.

Tips to further protect your investment

One of the best ways to ensure you will enjoy your jewelry for years to come is to protect it with a few simple steps.

  • Have your jewelry appraised.
  • Take a photo or video of your jewelry for claims purposes.
  • Keep your jewelry receipts.
  • Have your jewelry annually inspected by a jeweler.
  • Secure your jewelry in a safe or safe deposit box.

The GEICO Insurance Agency's jewelry insurance offers multiple benefits and the flexibility to get worldwide travel protection, select your own jeweler for repairs, file a fast and easy claim and choose your own deductible amount. For more information, visit

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