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When to Speak with an Jewelry Insurance Service in Monroe, MI

Jewelry is important to many people. Whether it’s an expensive or vintage watch, a diamond necklace, or an engagement ring, jewelry can be an important and, most notably, an expensive accessory. That is why, for people with multiple pieces of jewelry or just one or two expensive pieces, a Jewelry Insurance Service in Monroe MI is necessary.

Jewelry Insurance isn’t Rare

The fact is, a person doesn’t have to be extremely wealthy to justify having jewelry insurance. It isn’t uncommon for women to have an expensive wedding ring with a value could be estimated in the range of several thousands of dollars. Having the ring stolen, or having one or multiple stones fall out of the ring, which is the most common issue, really puts jewelry insurance in the forefront of people’s minds.

The Limitations of Home Insurance and Jewelry

Some might say that if a piece of jewelry, like a wedding ring or an expensive watch, was stolen a person’s homeowners or renters insurance would cover such losses. While that is true, most home or renters insurance policies cap replacement compensation for jewelry at around $6000. It is very conceivable that a wedding ring alone could be valued at that or beyond, to say nothing about other jewelry that may have been stolen.


In terms of cost, the annual premiums for jewelry insurance will be anywhere from one to two percent of the total value of the jewelry being insured. What that means is, if the total value of the jewelry equates to $10,000, the cost could potentially be between $100 to $200 annually.

Dedicated Policies

Jewelry insurance can be added to an existing home insurance policy. However, for more expanded coverage, many people opt for a separate policy to cover loss as well as damage that may occur outside of the home. To find out what policy is right for an individual, it is best to contact a dedicated Jewelry Insurance Service in Monroe MI.

The financial and sentiment value of jewelry can be significant, and while insurance may not do much for the loss of a sentimental piece, it can help with financial compensation. That’s why, if you have jewelry that is under insured, you may want to Browse our website to learn more about properly protecting your jewelry today.