Jewelry requires additional coverage to protect against accidental loss

Many homeowners remain unaware that their most cherished piece of jewelry might not be covered under a standard homeowner or rental insurance policy.
“For most consumers, a standard homeowner or rental insurance policy includes coverage for loss to personal property,” State Farm says in a press release. “However, there are deductibles and coverage limits.
“For example, a standard homeowner’s policy won’t cover an accidental loss such as dropping a ring in the toilet or sink. If you lose the ring, you can lose your entire investment.”
For valuable items, including jewelry, a personal articles policy (PAP) can provide the additional coverage required, the insurer notes.
State Farm recommends jewelry valued at more than $5,000 should be appraised (and all documentation must be kept), and subsequently re-appraised every three years to ensure appropriate coverage.