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Home > Blog > Inland Marine Insurance for Jewelry
TUESDAY, FEBRUARY 15, 2022

Inland Marine Insurance for Jewelry

If you own valuable jewelry, it may be beneficial to protect it with an inland marine insurance policy. Although it may not be clear from its name, inland marine insurance can supplement your existing insurance policies and provide added coverage for your prized possessions such as rings, necklaces and bracelets. 

The team of agents at The Meyer Group, Inc. is ready to help you navigate the options and find the best policy for your needs. Contact us today for additional information. 

What Is Inland Marine Insurance? 

The term “inland marine insurance” grew from marine insurance, which insured property as it was transported over the water. Inland marine insurance then evolved to protect property as it was carried across the land. Today, inland marine insurance may cover several types of movable property, and it may supplement existing insurance policies. jewelry in a Box

Is Standard Homeowners Insurance Sufficient for My Jewelry? 

Although a standard homeowners insurance policy may provide some protection for jewelry, it may not offer all the coverage you need. Disadvantages of utilizing your homeowners policy to cover your jewelry include: 

  • Since jewelry is relatively easily misplaced or stolen, a standard homeowners policy’s coverage limit is generally lower to reflect these risks. This may mean the value of your jewelry may not be sufficiently covered. 

  • Homeowners policies may not cover the breadth of risks that an inland marine policy does. For instance, a standard homeowners policy may not cover accidents that damage your jewelry.  

  • Claims filed on your standard homeowners insurance would be subject to your policy’s deductible.  


If you secure inland marine insurance, your policies may have higher limits to provide more protection. Additionally, you may have more options in selecting a deductible, and there may even be no deductible.  

How Much Protection Does Inland Marine Jewelry Insurance Provide? 

There are two different types of loss settlement options that are typically available with an inland marine jewelry insurance policy. These options may affect how much coverage you receive for your items: 

  • Agreed value settlement—This option typically pays the amount the jewelry is listed on the policy in the event of a loss. Because of this protection, this option may require an additional premium. 

  • Repair/replacement cost settlement—This option may provide coverage that restores the jewelry to its original condition or replaces the item with one of like kind or quality. With repair/replacement cost settlement, the replacement amount may be lower than the value listed on the policy. 


How Much Does Inland Marine Jewelry Insurance Cost? 

The cost of inland marine jewelry insurance depends on numerous factors, such as the value of the jewelry protected and the selected limits. The professionals at The Meyer Group can provide more information on policy options and exclusions and help you secure the right coverage for your budget. Contact us today for details. 
Posted 1:07 PM

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