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Whether you need jewelry insurance depends on several factors related to your specific situation and the value you place on your jewelry. With that said, we have compiled some things to consider when deciding if jewelry insurance is worth it for you:

Value of the Jewelry

If your jewelry is very valuable, either in terms of monetary or sentimental value, insuring them can help give you peace of mind. The loss or damage of an expensive piece without insurance can be financially burdensome because it may be cost prohibitive to replace.

Risk of Loss or Theft

Consider how often you wear your jewelry. If your jewelry stays in a safety deposit box in a bank and is rarely worn, then the ROI based on risk is low. However If you wear your pieces daily or frequently, if you are in an area with a higher risk of theft or if you travel frequently with your valuable pieces, insurance might be a good idea.

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