Are You Covered?

What would you do if one day you looked down and saw this? Would you be covered?

Jewelry is special, and life doesn’t always take that into consideration. It doesn’t matter how careful you are, we all know that things happen that are completely out of our control. That’s why we have insurance on our homes, and our cars, and that’s why we should have insurance on our jewelry.

Insurance policies aren’t created equal, so call your insurance agent and ask:

  • What documentation is needed from me in order to insure my jewelry? Most companies will ask for a written appraisal from a gemologist, which Daniel Diamonds provides for free with any purchase over $500. We will appraise jewelry that wasn’t purchased from us for $50 per item.
  • Am I covered in the event of theft, damage or loss? Am I covered if I lose or chip my center stone?
  • In the event my ring does get lost or damaged, how will it be replaced? Do I get to choose the jeweler? Do I need to replace it with the same exact ring, or will you cut me a check? Many clients opt to get a different ring for sentimental reasons.
  • Are there any loss/theft/damage circumstances where my ring will not be covered? What if it goes down the garbage disposal, or gets run over by a car? This happens more than one would think.
  • How often will I need to update my appraisal? How will you calculate my compensation? Will I get the full appraised value for the piece, or is it depreciated?
  • What is my deductible vs. the value of the piece being insured? There are situations where it does not make sense to insure an item.


If you have a jewelry collection that you wear infrequently and you do not want to pay to insure each item individually, we recommend storing everything in a safety deposit box. A safe at home (even if bolted in) is still susceptible to theft,  so a safety deposit box is the safest place for it.

If you think you can’t afford to insure your jewelry, my question to you, is, “can you afford not to?” Daniel Diamonds is a State Farm replacement jeweler. If you have any questions about jewelry appraisals, or want to have an item appraised, call us at 303-674-6673. If you have questions about insurance, or your policy, contact your insurance agent.