Jewelry and Engagement Ring Insurance

The most reliable way is a scheduled personal property policy, sometimes called a jewelry floater, that lists the ring at an agreed or appraised value. You provide a recent appraisal or the receipt, and the piece is covered for loss, theft, and damage, usually with no deductible. We can set it up as a standalone policy or an endorsement.

Partly, and usually not enough. Homeowners and renters policies cap jewelry theft at a low sublimit, often around 1,500 dollars, and they generally do not cover simply losing a ring. Scheduling the piece raises the limit to its full value and adds the perils the base policy leaves out.

See Renters Insurance

For higher-value pieces, usually yes. Carriers want a recent appraisal or a detailed sales receipt to set the insured value. For newer purchases the store receipt is often enough. We tell you what a given carrier needs before you buy.

It is coverage that lists a specific valuable item at an agreed amount, above the standard sublimits of a homeowners or renters policy. Jewelry, watches, art, and instruments are common examples. Scheduling adds broader perils, like mysterious disappearance, and typically removes the deductible for that item.

See Renters Insurance

A common range is roughly 1 to 2 percent of the item's value per year, though it depends on the piece, where you live, and the carrier. A ring appraised at several thousand dollars often costs a modest amount annually. We quote it against the actual appraisal.

A scheduled jewelry policy usually covers a lost or damaged stone, including a diamond that falls out of its setting, which a homeowners policy typically will not. Gradual wear that loosened the setting over time can be a gray area, so the cause matters. We walk through the terms before you rely on them.

Everyday deterioration, loose prongs over time, and general aging are maintenance, not a covered loss.

A piece worth more than you scheduled is only covered up to the amount on the policy.

Damage you cause on purpose is never covered.

Items a carrier declines to schedule, or that fall outside the agreed inventory, are not covered.

We are licensed in California, Texas, Pennsylvania and New York, and applications in Ohio, North Carolina and Michigan are with those states now. We do not quote a state before its license is issued. Start a quote and we will tell you where you stand before you spend time on it.

You answer a short set of questions, and a licensed broker at Menlo reads them, maps your operation to a class, and shops it with the carriers we are appointed with. There is no instant bind and no black box. You talk to a person before anything is quoted.