When was the last time you had your jewelry coverage reviewed?

diamond and gemstone ring, silver watch

If you have purchased or received jewelry recently, you might consider talking with your agent about adjusting coverage limits to better protect your collection. It’s also important to periodically appraise pieces that have been in your collection for many years, including family heirlooms you inherited. While the sentimental value of these items may be priceless, you will have peace of mind knowing they are adequately insured.

Standard homeowners policies might not provide adequate coverage for your jewelry. Under certain circumstances, many policies limit jewelry coverage to $1,000–$2,000.1 Would that be enough for you and your family?

How Nationwide Private Client responds

Whether your jewelry collection is worth $25,000 or $1 million, we have a solution for you. With a Nationwide Private Client homeowners policy2 and an added protection endorsement, we cover up to $25,000 for lost, misplaced or stolen jewelry.3 If your jewelry collection is valued over $25,000, you will want to consider our personal collections2 policy, which includes:

  • Blanket coverage: We offer blanket coverage per-item options of $10,000, $25,000, $50,000 or $100,000.
  • Protection against market increases: The market for high-value jewelry is constantly changing. At the time of a covered loss, if the market value of a lost or stolen item has increased beyond the scheduled amount, we will pay up to 150% of the scheduled amount.4
  • Losses to pairs and sets:: If part of a pair or set is lost or damaged, you can choose how you would like your coverage to respond:
    • Repair
    • Replace
    • Receive the difference between the value of the pair or set before and after the loss
    • Surrender the remaining part of the set to us and receive the scheduled value of the pair or set
  • New purchases: If you already have jewelry scheduled on a personal collections policy with us, your new jewelry purchases will be covered for up to 90 days from acquisition for up to 25% of the total scheduled limit stated on the declarations page of your policy, even if you haven’t yet notified us of your purchase.
  • Reduced rates for safe storage: We offer lower rates for pieces that are kept in a bank vault, safety deposit box or qualifying home safe.
  • Consigned, borrowed or loaned jewelry: We offer coverage for up to 90 days from the date you acquired the item(s) for up to 25% of your limit for scheduled jewelry pieces.
  • No deductible With a personal collections policy, no deductible applies.5
  • Worldwide coverage: Our collections policy extends anywhere in the world, so you have the flexibility to bring your jewelry when you travel.

How you may be at risk

Consider the following scenarios and how we would respond compared to a standard homeowners policy:

Loss scenario Private Client personal collections policy (no deductible) Private Client homeowners policy and protection endorsement (deductible applies) Standard ISO homeowners policy (deductible applies6)
$25,000 of stolen jewelry Covered Covered Typically covered up to $1,500
Lost one gemstone earring - family heirloom - pair valued at $15,000 Covered - with option to replace the entire pair Covered - at a minimum replace the missing gemstone to restore the pair (availability varies by state) Probably not covered
New $10,000 diamond ring mysteriously disappears 60 days after you bought it and you hadn't yet notified your agent of acquisition Covered up to 25% of the jewelry limit shown on the declarations page of your policy. You have 90 days from your date of purchase to report the new item to your agent. Covered up to $25,000 Probably not covered
Lost watch scheduled at $30,000, but market value for replacement is $45,000 Covered - we pay up to 150% of the itemized coverage amount Covered up to $25,000 Probably not covered

Why it’s important for you

You want to feel secure that your jewelry is adequately insured. Your insurance agent can help you determine the right protection for your jewelry. We understand that your jewelry is an investment, both sentimental and monetary. A personal collections policy from Nationwide Private Client will give you added security above and beyond what a standard homeowners policy will cover.

Nationwide Private Client offers these added benefits:

  • Specialized claims service: Our team of problem-solvers is available 24 hours a day, 365 days a year.
  • Special limits for jewelry included on homeowners policy: The Nationwide Private Client homeowners policy covers up to $10,000 of lost, misplaced or stolen jewelry, with limits up to $25,000 with our protection endorsement (deductible applies).
  • Multipolicy discounts: When you add a personal collections policy, you may qualify for a discount on your homeowners policy.

Additional resources

  • Artigem Replacement Services provides jewelry appraisal services at a discounted rate for Nationwide Private Client policyholders. Find them online at replacementservices.com.
[1] "What is covered by standard homeowners insurance?" iii.org/article/what-covered-standard-homeowners-policy (accessed Jan. 5, 2022).
[2] Limitations and exclusions may apply. See the policy for details or contact your Nationwide Private Client agent.
[3] A deductible applies.
[4] This valuation applies in certain cases. Documentation is required, including an appraisal, bill of sale or purchase receipt representing the valuable article and that is not older than five years from the date of loss and not more than the coverage limit for the class to which the valuable article belongs.
[5] A 10% earthquake deductible may apply
[6] Most insurance companies will take the deductible off the aggregate loss.