The personal articles coverage of your renters insurance offers financial compensation for the loss of your personal belongings by a covered peril. Like all of your belongings, your jewelry is also covered by insurance.

However, the coverage limit is low, usually up to $1,000- $1,500. Also, it is important to note that for jewelry, standard renters insurance covers only loss by theft.

Jewelry is a property class with a sub-limit in your renters insurance coverage. It means that however much personal property coverage you may buy in your insurance for loss or damage to jewelry, the coverage amount will be limited to the sub-limit. If you need more coverage to ensure better protection for your jewelry, you may bridge the gap by adding an endorsement to your insurance policy which is also referred to as adding a schedule. The advantages of adding a schedule are:

• Your jewelry is protected by other covered perils in addition to loss by theft
• The higher coverage limit offers adequate protection
• The replacement-cost coverage in the rider ensures that you get the full worth of the lost or damaged jewelry

However, you must talk with your insurance provider about whether you need to buy a single endorsement for all your jewelry pieces or separate riders for each.

There are certain conditions in which your insurance provider may not cover your jewelry in your standard renters insurance. They are:

• Since standard renters insurance covers only loss by theft, you may not be covered by loss or damage by other covered perils
• The jewelry has been stolen from the rented property
• The jewelry has been stolen from one of the rooms that you have sub-let to another tenant
• A precious stone embedded in the piece of jewelry falls and is subsequently stolen

Even after adding a schedule to the insurance, you may not be covered for loss or damage due to the following:

• Wear and tear
• Insect infestation
• Inherent vice
• Government or customs seizures

Several insurance providers offer separate jewelry insurance. You may compare the cost of the standalone jewelry insurance with the cost of your renters insurance with the added endorsement for jewelry. Based on the price difference and benefits, you may select the coverage of your choice.