Jewellery Insurance

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Jewellery Insurance

Insurance coverages for jewelry and many other valuable articles is subject to reduced coverage limits in your home, condo or tenant insurance policy. In the event the item is lost or stolen, the coverage available could be severely restricted. In addition, even when coverage is adequate, there is significant risk you may not be able to recover the true value of the valuable.

Insurers compensate for losses based on repair or replacement with items of like kind and quality, it is not guaranteed that the replacement or its claim value will match what you paid for it. Deductibles will also reduce your claim amount.

It is highly recommended that you review your valuable possessions to ensure that there is adequate cover under your policy. Insurers can individually schedule valuable items to ensure they are covered for their appraised value, and in many cases scheduling the items will provide for broader coverages.

When items are scheduled, they are also often insured with no deductible, allowing you to recover the full value of the item. Blanket coverages are also often available, these provide for higher coverage limits without requiring a list of items or current appraisals.

Key High Value Items to Insure


  • Jewelry & Timepieces

    High value wedding rings, engagement rings, earing, necklaces, jewels and watches should all be properly insured.

  • Artworks

    An art collection is not only irreplaceable it can also be incredibly valuable, proper insurance will provide you with peace of mind.

  • Wine Collections & Other Valuables

    If you are unsure about an item, you should ask your broker to ensure there are no coverage shortfalls.

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 What do I Look for to Ensure Proper Coverage of My Valuables?

Insurers can vary greatly in their approach to insuring jewelry and other valuables, it is important that the particulars of each insurer’s coverage be evaluated when determining the right insurer for your precious items.

  • Do I need current appraisals for all my items? Getting valuables and jewelry appraised can be expensive and time consuming?
  • How often will I need to get my valuables appraised?
  • Does my policy allow me to surrender a damaged item or remaining items of a pair or set so I may replace with a completely new item?
  • Will I receive the full insured value if I choose not to replace the item?
  • How easy is it to add or remove items?
  • What are the per-item limits provided under blanket coverages if available?
  • What guarantees are provided if my valuable or jewelry item has appreciated beyond the appraised value?
  • Does my insurer regularly insure high-value items? How knowledgeable is their claims department? Do they have specialists on staff? Will I face unreasonable scrutiny in the event of a large loss?

FCA is Canada's Insurance Expert Since 1919.

FCA has been providing Canadian families with their insurance needs since 1919. We have set the industry standard for turnaround time for both new and existing clients. We pride ourselves in ensuring our clients are receiving the best suite of coverages at a fair price.


This really depends on the item and the provisions the insurer provides under their blanket cover. Some items may be expected to appreciate significantly, so where the value is high you may want a guarantee to protect against this increase in value. Some blanket coverages have high per-item limits, while some insurers provide very low per-item limits. These limits can range from $250 to $50,000 depending on the insurer.

It depends. For many insurers, current appraisals will be required to add items under scheduled coverages. However, some insurers specialize in the more affluent markets, and are comfortable with insuring items without appraisals unless the insured amount reaches a larger amount. With these markets, sometimes appraisals are not required unless the individual item exceeds $50,000 or $100,000. Appraisals, especially when required for multiple items, can end up costing a significant amount of money, especially if an insurer requires them to be updated every five years.

Insurers will differ on how they handle damaged items. Some insurers will require the item to be repaired to receive full value in a claim, while other insurers will provide the option of a cash settlement and leave it to you to decide how to best proceed.

Insurers also differ on how they compensate you for a lost item from a pair or set of items. If you lose a single earring, is it even possible to obtain a matching replacement? Some insurers will cover only the value of the lost item, while other insurers will allow you to surrender the remaining item(s) of the pair or set and receive the full replacement value.

This depends again on the particular insurer. In many cases, you will only receive full value if the item is replaced, otherwise you will receive a reduced amount. Other insurers will pay you the full insured value regardless of whether you replace the item.

Safes are helpful to dissuade an inexperienced thief, but pose no deterrent to a targeted theft. Professional thieves will often take the entire safe, and will usually cause significant damage to your home in the process. The “Million Dollar Guarantees” provided by some safe manufacturers only apply when the safe can be proven to have been opened. If the safe is gone, it is not going to help you.

Again, the rates will vary between insurers. For jewelry, the rate is typically between 1-1.7% of the insured value. Other collectibles will vary depending on portability and their likelihood of damage or theft. Reduced premiums are also available for items that are kept in a secure bank vault.

Why Choose FCA Insurance?

Ease of Doing Business

We set the industry standard for turnaround time for both new and existing clients, you can expect excellence.

Trusted by Insurance Markets

Outstanding relationships with all of the most reputable insurance markets in the industry, giving you the power of choice.

Insurance is What We Do

FCA Insurance Brokers has extensive experience with insuring your valuables. We can offer the broadest coverages available for your jewelry and other valuables.


Laura does the work to get us the best prices with the best coverage.  Her yearly renewal visit is comprehensive to say the least, but when she leaves, we all understand the exact nature of each and every policy our business has.

Carol, Feb 2019 

Helen is super nice, knowledgeable, and quick. Our new policy is saving us $700/year, for a plan that’s actually better than the one our previous broker arranged.

Oliver, March 2018 

Jamie and his team have been great to deal with, providing transparent advice and excellent service!

Cam, Nov 2020 

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