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June 29, 2021

The Importance of Jewelry Insurance

Whether it’s a family heirloom passed down through generations or something you purchased for yourself, a piece of jewelry carries both monetary and sentimental value, making loss painful and personal. While you can never replace the sentimental value of an item, insuring your jewelry can help you recover the financial loss.

Why Insure?

Accidents can and do happen. Whether it’s a fire, a spill or theft, your special pieces need protection. Many homeowners or renters insurance policies won’t cover the entire replacement cost, or even exclude jewelry loss completely. In the event of damage, loss, or theft, a current, stand-alone jewelry insurance policy protects the value of your entire collection.

How to Insure

In order to properly insure your jewelry collection, you need to have its value assessed regularly. Part of purchasing an insurance policy involves an appraisal of all pieces you want to cover. This also provides you with insight to the financial worth of your collection. Gary J. Long Jewelers provides appraisal services and, with permission, will submit the information to Jewelers Mutual for a personalized quote of the current value.


The cost of insuring your jewelry is relatively small compared to its value. Insuring your pieces against damage or loss is a cost-effective way to protect your heirlooms and investments. Rates depend on where you live, but jewelry insurance usually costs 1-2% of the value of your items, saving you a lot of money in the long run. For example, a $5,000 engagement ring could cost as little as $50 per year to insure.

Avoid the heartache and frustration of losing a piece of jewelry that represents special moments in your life with a specialized insurance policy that provides comprehensive coverage. Ensure that your collection is always covered with regular, updated, current-value appraisals at Gary J. Long Jewelers.