Jewellery insurance: What you need to know to get coverage
Did you know? Some home insurance companies provide extended options for jewellery coverage – compare personalized quotes with us today to find your best fit.
Matt Hands, VP, Insurance
This post was first published on June 15, 2019, and was updated on March 6, 2026.
Diamonds are forever, until your engagement ring slips down the drain while you’re washing dishes, or a thief swipes the necklace your grandmother left you. If you own valuable items such as jewellery, gems, watches or furs, you may want to consider purchasing jewellery insurance to protect them.
Jewellery is included under a home insurance policy as part of the home’s contents coverage, but the basic coverage amount likely won’t be enough to cover your expensive valuables. Standard coverage is minimal and often caps reimbursement at $3,000 to $6,000, although limits will vary by insurer. For example, The Co-operators has a $6,000 maximum, with a $4,000 maximum per item.
If you have a substantial jewellery collection or even one piece with significant sentimental value, you may want to add an endorsement to your home insurance policy to ensure your precious gems are covered. If that’s not enough coverage, you can opt for a standalone jewellery insurance policy from a specialized provider.
Here’s what you need to know about jewellery insurance in Canada.
Key takeaways
- Jewellery coverage is included in standard home insurance policies, but coverage is limited.
- If the value of your jewellery exceeds your policy limits, you can purchase a jewellery endorsement as an add-on to your home insurance policy.
- For additional coverage, you can purchase a standalone jewellery insurance policy from specialized providers.
- Coverage details and limits will vary by insurer, so it is always best to check what your policy does and does not cover.
- Get your items appraised and keep a receipt on hand to ensure you’re properly insured.
What does jewellery insurance cover?
Jewellery insurance covers valuable items, including engagement rings, necklaces, earrings, brooches, watches, furs, and gems. A jewellery insurance endorsement will cover the item’s replacement value, which often increases over time. To properly insure the full value of jewellery, your provider will require a recent appraisal to provide coverage.
How much does jewellery insurance cost?
The cost of jewellery insurance is typically between 1% and 2% of the insured item’s value. For example, insuring an engagement ring valued at $8,000 could cost between $80 and $160 per year in premiums.
How do you insure an engagement ring?
You can insure an engagement ring by getting a detailed receipt and description of the purchased jewellery. Then, you’ll want to obtain an appraisal from a member of the Certified Accredited Appraiser Program (CAAP), according to the Canadian Jewellers Association.
Keep the appraiser’s report on hand; it should include a detailed description, magnified photographs and a current replacement cost estimate, and comes in handy if you need to make an insurance claim. It doesn’t hurt to take your own photos, too. If you are insuring your engagement ring, you should include all jewellery in your home inventory and keep the receipt. Also, if you bought the piece on sale, you’d want an appraisal to ensure it’s not underinsured.
Gather up your home inventory and submit everything to your home insurance provider. If you’re renting, shop for tenant insurance quotes to find the policy that offers the best value. A tenant policy can also provide extended coverage for your valuables.
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What are the alternatives for a jewellery insurance endorsement?
Stuffing valuables under your pillow may not be the best move. You can buy a safe that protects your jewellery from fire or flood and deters thieves, but jewellery is meant to be worn. If you’re searching for an endorsement alternative, know that you can buy coverage for your jewellery on a policy that’s separate from your home insurance.
A standalone jewellery insurance policy can be more expensive than an endorsement, but if you have to make a claim, premiums for your main home insurance policy won’t be affected.
Whether you add an endorsement to your home insurance or shop for a new policy, check to see what’s covered, as each insurance company differs. For example, one policy may cover you if your ring is damaged but not if it is lost. An individual jewellery policy from Jewelers Mutual will cover you whether you lose an item, it gets stolen, damaged in a natural disaster or even if it disappears.
It’s also a good idea to check whether there are any restrictions on the claims process. Some home insurance companies require you to use a jeweller of their choosing to fix damaged items or to recreate lost or stolen items, whereas other insurers are much more flexible.
Who insures jewellery?
Most home insurance companies offer some form of jewellery coverage. General home insurance providers such as The Co-Operators, Aviva, and TD Insurance offer endorsements you can add to your home policy. Specialized companies such as Chubb and Jewelers Mutual offer standalone jewellery insurance.
To get coverage, connect with your current home insurance provider to see what it might cost to add a jewellery item to the contents insurance portion of your home insurance policy.
The bottom line
The standard contents coverage on your home insurance policy typically has a cap, and if you have a large jewellery collection, it may not be sufficient. Instead, you'll want to seek out options for extended jewellery insurance, which can include adding an endorsement to your home insurance plan or purchasing an individual policy from a specialized provider. With any option you choose, ensure you're aware of and comfortable with all the terms and restrictions.