Does homeowners and renters insurance cover jewelry?

Special occasions – from a couple's engagement to a promotion at work – may be marked with expensive jewelry. It's important to protect your valuables with the appropriate jewelry insurance coverage. Below is some information about homeowners and renters insurance coverage of jewelry to help you protect your precious items.

Does renters and homeowners insurance cover jewelry theft?

Your standard homeowners or renters insurance policy covers jewelry theft up to a certain value. To properly insure jewelry, engagement rings and other expensive items, consider purchasing additional coverage through an economical floater or an endorsement. An optional homeowners insurance coverage you can add to your Nationwide policy is Valuables Plus® which provides additional protection for jewelry and other high-value items such as watches and antiques.

Does renters and homeowners insurance cover lost jewelry?

If you lose a piece of jewelry, you may be covered in most cases. With floaters and endorsements, there are often lower or no deductibles, and frequently you will have the option of having the insurance company replace the item for you.

While your homeowners insurance policy may cover jewelry theft, the best protection is avoiding an incident in the first place. Here are some tips to help keep your jewelry safe from theft.

Jewelry theft protection tips:

• Store your jewelry in a secure location in your home. If you don't plan to wear the item regularly or are holding it for a child, consider keeping it in a safe deposit box.
• Take a picture of the item or collection. Get into the habit of keeping a photo record of all of your personal possessions. This helps to document your loss and speeds up the claims process.
• Update the value of your jewelry. Expensive items increase or decrease in value from year to year. Talk to your insurance professional about how to make sure the dollar amount of your floater or endorsement reflects these changes.

For more information on covering your jewelry and engagement rings, contact a Nationwide agent today.