Protect Your Sparkle: Comprehensive Jewelry Coverage for Every Occasion

The holiday season is a time for celebrations, thoughtful gifts, and unforgettable moments with loved ones. For many, jewelry tops the list of meaningful presents. From engagement rings to heirloom-quality pieces, these treasures symbolize love, milestones, and cherished memories. Ensuring they’re properly protected is an essential step in safeguarding what matters most.

In fact, jewelry sales peak during the holidays. A Mastercard survey revealed that jewelry sales grew by 32% year-over-year from November 1 to December 24, 2021, marking a 26% increase compared to pre-pandemic levels in 2019. These statistics highlight the enduring appeal of fine jewelry as a gift.

Why Jewelry Insurance is Essential

Investing in jewelry means protecting more than just its monetary value—it’s about preserving sentimental treasures. Jewelry insurance provides peace of mind by covering unexpected risks, such as theft, loss, or damage. Here’s why it matters:

1. Unexpected Loss or Theft
   Whether traveling to visit family or hosting festive gatherings, the holiday season can be unpredictable. Losing a cherished piece of jewelry can be heartbreaking, but the right insurance coverage can ease the burden.

    

2. Coverage Beyond Homeowners Insurance
   While homeowners insurance may offer some jewelry coverage, it comes with limitations. A dedicated jewelry endorsement provides higher coverage limits and protection against a broader range of risks.

How to Insure Your Jewelry

Depending on the value of your jewelry, Acuity offers several tailored coverage options to suit your needs:
 

1. Scheduled Jewelry Coverage
   For high-value items, particularly those over $5,000, scheduled jewelry coverage  ensures adequate protection. This coverage requires a detailed description of each item and may require a jeweler’s appraisal for items exceeding $20,000.
   • Actual Cash Value
     You describe each item to be insured and its estimated value. In the event of a claim, we pay up to the amount of insurance, but not more than the item’s actual cash value at the time of loss.
   • Agreed Value 
     You describe each item to be insured and its estimated value. In the event of a claim involving total loss, we agree to pay the amount of insurance shown in the schedule.
      
2. Blanket Jewelry Coverage
   Acuity’s Jewelry and Furs Enhanced Coverage, sometimes referred to as blanket coverage, offers a simple solution, because it does not require detailed descriptions. This specialized Acuity coverage is a good option if none of the jewelry items are individually valued at more than $5,000. You simply request a per occurrence limit that is accompanied by a per article limit to cover all their jewelry. The maximum blanket coverage limit offered by Acuity is $25,000 per occurrence, subject to a $5,000 limit per article.  Jewelry and Furs Enhanced Coverage broadens coverage from the Homeowners Policy to include loss by theft, misplacing, or losing.

Tips for Safeguarding Your Jewelry

Keep your jewelry safe and secure this holiday season by following these tips:

• Get an Appraisal: Determine your jewelry’s current market value for accurate coverage.

• Store Safely: Use a secure location, like a safe or lockbox, when your jewelry isn’t being worn.

• Document Your Pieces: Take detailed photos and keep receipts and appraisals organized.

• Reduce the risk of loss: Take your valuable jewelry items to your jeweler for regular maintenance, tightening stones and replacing clasps when appropriate.

• Review Your Coverage: Consult with your insurance provider to ensure your policy aligns with your needs.

Safeguard the Sparkle with Acuity

At Acuity, we recognize the value of your cherished possessions. With flexible options like scheduled and blanket coverage, we make it easy to protect your jewelry without the guesswork.

As you or your loved ones unwrap meaningful gifts this season, ensure they’re fully protected with the right insurance coverage. Explore Acuity’s jewelry insurance options today, and give yourself the gift of peace of mind to keep your holiday memories shining bright.