photo: Jasmin Awad/iStock

How to Ensure Your Jewellery is Insured

By AMA Staff

The moment in Titanic when Rose drops a rare diamond into the ocean, it’s hard not to wonder: Was that thing insured? Interestingly, the answer could depend on her home insurance coverage.

Broad home insurance coverage protects your personal contents from unexpected chance events that are listed and described in the policy—think theft or fire. In other words, if Jack really had stolen Rose’s necklace on the ship, she may have been covered for the missing bling.

Comprehensive insurance coverage takes it a step further, protecting your personal contents from all types of loss or damage unless it is specifically excluded in the policy. Lose your wedding ring down the kitchen sink? Misplace your favourite necklace while swimming? Mistakenly drop a rare blue diamond into the icy depths? Insurance could cover it, up to a predefined limit.

Home Insurance: Five steps to get the right policy for you.

Naturally, you’ll want to make sure you know what your coverage limit is, and whether it’s enough for your jewellery. Most home policies have a coverage limit that applies to jewellery, watches and furs for theft or mysterious disappearance. If loss or damage to these items is from another type of insured loss (fire or flood for example), the limit won’t apply.

To insure a specific expensive piece of jewelry or a collection valued beyond your home insurance limit, extra coverage can be added to your policy. These items will likely have to be reappraised from time to time to determine their current value (how often depends on your policy or insurance provider).

Ultimately, it’s wise to talk to your insurance company to ensure your baubles have the coverage that’s best for you. Oh, and try not to drop any priceless blue diamonds into the ocean.


Whether you rent or own, whether you live in a house, condo or apartment, AMA Insurance offers coverage options for all your needs. Contact an AMA Insurance representative at 1-800-615-5897, get a quote online, or visit an AMA centre for more information.


Get more bling for your buck. AMA members save 15% on all regular-priced in-store jewelry at Paris Jewellers.

This article is intended for general information purposes only. All policies are subject to various terms, conditions, limitations, and exclusions that may limit coverage.