Jewelry is unique in the insurance world. Easily damaged, stolen, lost, or misplaced, not to mention EXPENSIVE. It's no wonder folks want to insure it when considered the significant loss that could be sustained. Many people choose to add or "schedule" coverage for jewelry on their homeowners insurance policies. "Scheduling" an item usually means a $0 deductible. Scheduling jewelry works just fine, however, a jewelry claim will likely affect your homeowners premium at your next renewal.
Many customers are unaware there is an even better option - a separate jewely policy with an insurance company specializing in jewelry!
If you insure your jewelry with a jewelry insurance company instead of with your primary homeowners insurance company, your homeowners company may not discover your jewelry loss. A loss will still show up on your claims record, which can affect your rates if you are looking to buy new insurance, but if you are staying with your current company, they likely won't know sicne they didn't pay the claim. This keeps your homeowners rate low, and allows you to feel good about filing a claim if a hail storm strikes a few months later.
Finally, specialized jewelry insurers ONLY do jewelry. They are more familiar with the risks, offer exclusive GIA certified discounts and may offer other savings for storing and safeguarding jewelry responsibly. They also regularly work with jewelers to help repair or replace your most treasured items. This typically translates to lower costs and better service!