How to insure jewelry and engagement rings

Coverage for jewelry – including engagement rings and wedding rings – is often limited on insurance policies and depends on the type of loss. To ensure that your jewelry is covered up to its full replacement value, add it to your homeowners insurance policy by providing your insurer with your jewelry information. You may also be required to provide an appraisal and photos of the jewelry item depending on the value. If you schedule jewelry or add a rider to your policy, you won't have a deductible.

What's the cost of insuring jewelry?

Insuring jewelry may vary in price among insurance companies and often means an additional cost if you need to schedule certain pieces. For instance, a $5,000 engagement ring may cost about $50-$100/year to insure. If you're looking for an exact price, contact your insurer for additional information.

How your jewelry is covered

  • Theft: Coverage applies no matter where your piece is stolen – whether it's off your body, or from your home, car, or gym bag.
  • Loss and disappearance: While many policies have an exclusion for mysterious disappearance, you may be covered if you misplace the piece and it was scheduled on your homeowners policy. If the jewelry is recovered, you may be required to surrender the piece to your insurance company if you were paid the full insured amount of the item.

Types of jewelry you can insure

You may be able to insure several types of jewelry, including engagement rings, wedding rings, diamond rings, necklaces, bracelets, and even watches. Most insurance companies have a maximum limit on what they'll insure. That limit may vary, depending on your policy's total coverage amount.

What's not covered

Insurers won't replace jewelry that tarnishes or gets scratched over time due to normal wear and tear. Suppose your 30-year-old gold wedding ring becomes discolored – you won't be covered unless the damage was caused by a covered peril.

Is the ring insured when I give it to my fiancé or fiancée?

Coverage may depend on the scenario:

  • You're living together: If you added the name of your fiancé or fiancée on your insurance policy (or if you share a policy), it's generally covered once you give the ring to them.
  • You're not living together, or they aren't listed on your policy: Your fiancé or fiancée is responsible for insuring the ring. Your policy will no longer cover it at that time, and they will need to add it to their policy.

How to get coverage for your jewelry

Current Progressive customers

Call 1-866-749-7436 and provide details about your jewelry piece(s) to a representative. An appraisal may be required, as well as color photos for pieces over a certain dollar amount.

Non Progressive customers

Get a homeowners insurance quote and add your jewelry piece(s). An appraisal and color photos may be required.