Engagement rings, heirloom jewelry, and wedding rings are all items that we hold incredibly dear. While we often store these in a safe in our house, we might lose them in the event of a theft or house fire. Hence, taking the right precautions to protect them from harm is essential. This can include taking out jewelry insurance that ensures all-around protection of these valuable items.

How jewelry insurance works
Most homeowners in the country opt for a home insurance policy. While this policy can be used to pay for jewelry repair or replacement after a house fire, it provides limited coverage of up to $1500. In addition to jewelry, this amount can be used for watches, furs, and semiprecious stones.
On the other hand, jewelry insurance provided by specialized companies can provide more comprehensive coverage compared to a home insurance policy. For instance, they can help cover preventive maintenance measures such as clasp replacement or stone tightening. Further, they also pay for any jewelry pieces lost in floods, earthquakes, and other scenarios listed in the policy.

What it covers
In most cases, separate jewelry insurance can cover loss, theft, and damage. So, for better clarity, here is a list of kinds of jewelry that are covered by separate jewelry insurance:

• Earrings
• Brooches
• Bracelets
• Necklaces
• Tiaras
• Antique or heirloom jewelry
• Watches
• Wedding bands and engagement rings

While specialized companies cover the items mentioned above on an “all-risk” basis, they may not pay for the damage caused by scenarios not mentioned in the policy. This comprises wear and tear, intentional loss or damage, manufacturer defects, and damage caused by rodents and vermin.

Need for jewelry insurance
There can be various reasons why one may need jewelry insurance. A few reasons are listed below:

• Protection against theft
  If one keeps jewelry pieces in their house, they must keep in mind that these pieces can be easily lost or stolen. According to statistics, in 2021, the nationwide rate of property crime in the country was 1,993.4 per 100,000 of the population. In such cases, predictably, the most heavily stolen commodities are diamonds and other pieces of jewelry. Hence, one can opt for jewelry insurance to offset any heavy losses. This can also help one feel at ease during such difficult times.
• Increased protection compared to warranties
  Typically, warranties cover the cost of repairing manufacturing defects in jewelry up to a certain limit. This means that they can only cover repair costs related to workmanship. So, if damage has been caused to the piece of jewelry due to the owner’s negligence, it will not be covered under the warranty. In such cases, one can easily cover the cost of damage using jewelry insurance and even protect it from further harm or loss.
• Cataloging the jewelry and its value
  Knowing their worth can be handy in cases where one has received specific jewelry pieces as a gift or as an heirloom. When one opts for jewelry insurance, they are persuaded to uncover previously unknown information about the property. This can include its composition, age, appearance, photographic records, purchase price, and current value. The information mentioned above is helpful during legal proceedings and audits.
• Provides more protection
  As mentioned previously, standard homeowners’ policies have a cap on the coverage amount. So, if one owns jewelry worth more than $1500, the coverage provided may fall short. Moreover, the insurer will subtract the deductible from the claim payout. If one has $1,500 worth of jewelry stolen and has a $1000 deductible, they may get only $500 in coverage from the insurance company. On the other hand, when an individual purchases separate jewelry insurance, they can safeguard their property even if the amount exceeds the home insurance limit.

Jewelry insurance companies to check out
Here are a few top jewelry insurances companies that one can check out:

• BriteCo Jewelry Insurance
  This company offers cover for loss, theft, damage, and even the mysterious disappearance of insured jewelry. Furthermore, BriteCo even helps pay for maintenance services like stone resetting and prong re-tipping. Another feature that sets this jewelry insurance company apart is its policies’ lack of deductibles. That said, they cover up to $350,000 per customer and $150,000 per piece. In addition to the above, if an individual finds the item’s replacement costs more than expected, BriteCo will pay up to 125% of the item’s appraised value.
• Jewelers Mutual
  Jewelers Mutual, founded in 1913, has more than a century of experience in the industry. Typically, its policies cover theft, loss, mysterious disappearances, damage, earthquakes, and floods. On top of this, the company may pay for preventive maintenance or repairs, such as restringing broken strands of pearls or fixing bent prongs. In most cases, Jewelers Mutual does not provide cash payouts. Instead, the payment is made to the jeweler of the insurer’s choice. Additionally, they provide discounts to customers so that they can avail themselves of home security systems, inscribe identification numbers on jewelry pieces, or invest in a safe deposit box.

Generally, stand-alone jewelry insurance costs 1% to 2% of the value of each item. But the policy’s price can differ depending on factors such as location, number of pieces, and the deductible amount.

For many reasons, lab-grown diamonds can be considered better than naturally occurring ones. For one, artificial diamonds are more reasonably-priced than their natural counterparts. Additionally, lab-grown diamonds have the same physical and chemical properties as conventional diamonds. Moreover, buyers can customize their engineered diamonds in any shape, form, or color, which is not always possible with natural diamonds. Here are some of the most sought-after and best-priced lab-grown diamonds one can buy today:

Noémie 18 Karat Gold Halo Pavé Diamond Engagement Ring
Noemie’s incredible lab-grown diamond forms the crux of this gorgeous engagement ring. This ring, which contains one of the best-priced lab-grown diamonds, has a focal stone containing half a carat of pavé accent diamonds around its central design. Additionally, this product is manufactured and designed ethically (from a human rights perspective) and is environmentally sustainable.
Additionally, the ring is handset in exquisite 18-karat gold and comes with an IGI certificate for 100% authenticity. Buyers can customize this engagement ring according to their requirements.

Clean Origin Emerald Lab Created Diamond
Clean Origin is known for creating high-quality, sought-after, and some of the best-priced lab-grown diamonds available online. This stunning diamond is priced online at a super-reasonable price of $486, making it the most affordable piece on this list. This diamond features a clean, reflective polish and excellent symmetry. Its shape is classified as emerald and, like the first item on this list, comes with an authenticity-verifying IGI certification. According to Clean Origin’s official site, buyers can purchase this engineered diamond in multiple color choices, including faint yellow, light yellow, very light yellow, and two tones of varying colorlessness, among others.
Clean Origin also offers an incredible 100-day returnable policy on this diamond, meaning that customers can live with the shiny stone for more than three months and still return it if it is not up to their taste or requirements or if they spot any defect in the piece.

All prices listed in this article are dynamic.

Lyanna Engagement Ring
Miadonna’s beautiful lab-produced diamond adorns yet another scintillating engagement ring. This ring has a pear-cut stone embedded centrally on a smooth and regal metal band. Its smooth metallic surfaces make it extremely comfortable to wear and, therefore, an ideal piece of jewelry for people with more active daily lifestyles.
This ring comes with multiple stone options. Buyers can purchase it with specially-engineered, lab-made gemstones. These precious stones are identical to naturally occurring gemstones in terms of optical, physical, and chemical attributes.
Apart from that, consumers can also get this ring with lab-grown diamonds. These diamonds are natural, pure carbon diamonds. Despite being identical to earth-mined diamonds in terms of chemical composition, physical features, and optically, they cost up to 40 percent less than natural diamonds. The third kind of stone this engagement ring can be bought with is a hybrid of carbon-infused diamond and a crystal-based core. This stone looks like a diamond but rates slightly lower (9.1) on the Mohs scale and may feel slightly different from wearing.

Clean Origin Round Lab Created Diamond
Clean Origin’s products are usually reasonably priced, and the $521-priced Round Lab Created Diamond is no different. This incredible piece has a depth of 62 percent and a table percentage of 57. Additionally, it is a 0.43-carat diamond with a round shape, as its name implies. As expected with Clean Origin’s products, the symmetry and polish on this diamond are exquisite.
It is an aesthetically-pleasing piece that, like the Origin Emerald Lab Created Diamond, comes with a 100-day returnable policy.

LIGHTBOX Lab-Grown Diamond Round Stackable Ring
The LIGHTBOX lab-grown diamond ring is one of the most beautiful and among the best-priced lab-grown diamond products out there. One can purchase this exquisite piece in white, pink, and blue. As stated earlier, getting such a diverse variety of colors in a diamond is difficult when buying naturally occurring diamonds. Additionally, this ring’s $700 price and endless options for customization make it one of the most desirable items in the lab-grown diamonds market.
The metal in this ring is made of premium 14k yellow gold, while the diamonds are cut, designed, and polished to build them into a brilliant circular shape. This ring contains 3 or 4 centrally-embedded, round, lab-grown diamonds. It has an average clarity rating of VS2, and buyers can purchase it with beautiful bezel settings.
This ring is arguably the pick of the bunch when buying one of the best-priced lab-grown diamond items on the market. Its appearance, sense of occasion, incredible value and depth, and craftsmanship are on par with the best naturally occurring diamonds one can buy.

14K White Gold Oval Side Stone Diamond Engagement Ring
A large percentage of diamond jewelry tends to be engagement or wedding rings. So, to round off this list comes the 14K White Gold Oval Side Stone Diamond Ring, priced at about $2,310 and can be purchased in six cool colors-14K white, yellow, and rose, and 18K white, yellow, and platinum.

Besides its attractive colors, buyers can also customize it and purchase this product in six gorgeous oval-shaped diamonds set in a shared prong arrangement. This ring’s center stone is embedded in a four-pronged basket that contains claw tips.