Your homeowners or renters policy might protect your couch, clothes, and kitchenware. But what about your grandmother’s diamond ring? That signed Babe Ruth baseball? Or the painting you saved up for and proudly hung above the fireplace?

You're not alone if you're unsure whether your most valuable items are fully protected. Most people assume their belongings are covered until it's too late.

Let’s break down when and why you might need extra insurance for jewelry, art, or collectibles and what your current policy may or may not cover.

What Is Extra Insurance for Jewelry, Art, or Collectibles?

Also known as “scheduled personal property” coverage or a “personal articles floater,” this is additional insurance that specifically covers high-value items that a standard policy may underinsure.

Your base homeowners or renters insurance typically includes coverage for personal property, but it usually caps payouts for specific categories. That means you're out a big chunk of change if your $12,000 wedding ring is lost or stolen and your policy has a $1,500 limit for jewelry.

This is where extra insurance comes in. It bridges the gap.

What Does Standard Insurance Cover?

Here’s a look at what your regular homeowners or renters policy likely includes:

• Personal Property Coverage: Covers belongings like furniture, electronics, clothing, etc.
• Named Perils: Protection only applies if the loss is caused by something listed in the policy (fire, theft, etc.).
• Coverage Limits: Jewelry, fine art, and collectibles often have sub-limits within the policy, meaning they’re capped regardless of your total coverage.

Some common category limits include:

• Jewelry: $1,000–$2,500
• Art and Antiques: $2,000–$5,000
• Firearms: $2,000–$3,000
• Silverware: $2,500

These limits vary by company, but they rarely reflect the value of high-end or rare items.

What Is Typically Covered by Extra Insurance?

When you schedule an item with a personal articles policy, you protect its full appraised value. Here’s what that coverage typically includes:

• Theft and Mysterious Disappearance: Even if you simply lose the item, you’re covered.
• Damage: Broken jewelry, scratched artwork, or cracked collectibles can be repaired or replaced.
• Worldwide Coverage: Items are protected even when you travel.
• No Deductible: Most scheduled policies come with zero deductible, so you’re not out-of-pocket if something happens.

What’s Not Covered?

Like any policy, there are still a few exclusions:

• Wear and Tear: Normal aging, fading, or deterioration is not covered.
• Intentional Damage: Damaging or misusing the item on purpose voids coverage.
• Unscheduled Items: If you forget to list or appraise a new item, it won’t be covered until it is added to the policy.

Keeping your inventory updated and providing new appraisals when necessary helps ensure your policy protects what it should.

Commonly Scheduled Items

You can schedule almost anything of high value. These are some of the most commonly protected pieces:

• Engagement rings and heirloom jewelry
• Fine art, sculptures, and rare prints
• Designer watches and handbags
• Coin and stamp collections
• Memorabilia and sports collectibles
• Musical instruments
• Rare wine collections
• Antiques or historical artifacts

If it has significant monetary or sentimental value, it’s worth reviewing for possible extra coverage.

Real-Life Example

Let’s say you own a vintage Rolex worth $10,000. Your standard home policy only covers $1,500 for watches. It gets stolen during a trip.

Without a scheduled policy, you're out $8,500. But with extra insurance, you file a claim, and the full replacement value is covered with no deductible.

That’s peace of mind that’s hard to put a price on.

How to Get Extra Insurance

Getting coverage is usually a simple process:

1. Have the item appraised. Insurers need a verified value before scheduling coverage.
2. Provide documentation. Photos, receipts, and appraisal reports are key.
3. Add it to your policy. You can often do this with your current carrier or through a standalone policy.

How Much Does It Cost?

Rates depend on the item and its appraised value, but most personal article floaters cost between 1% and 2% of the item’s value annually.

For example:

• $5,000 diamond necklace → about $50–$100 per year
• $12,000 painting → around $120–$240 per year

It’s surprisingly affordable for the level of protection you gain.

Who Should Consider Extra Insurance?

Not everyone needs it, but if any of the following describe you, it's worth exploring:

• You own an engagement ring, high-end watch, or other fine jewelry
• You collect art, memorabilia, coins, or antiques
• You inherited valuable items and want to preserve their worth
• You travel with valuable belongings
• You want to avoid large out-of-pocket losses after a theft or accident

If your current policy’s sub-limits wouldn’t come close to covering your valuables, then extra insurance is a wise choice.

How to Know if You're Underinsured

Start with these questions:

• Could you afford to replace your high-value items out of pocket?
• Do you know your policy’s sub-limits?
• Do you have current appraisals for your valuable possessions?
• Have you added new items in the past year?

If you answered “no” or “I’m not sure” to any of these, now is a good time to review your coverage.

Why This Coverage Matters

Losing a valuable possession is painful enough. Finding out it's not fully covered is worse. Whether it's a family heirloom or a prized piece of art, these items often carry stories, emotions, and memories.

That’s what makes them worth protecting.

Scheduled personal property coverage provides peace of mind that your most treasured items won’t be left vulnerable. It’s about more than just insurance. It’s about protecting what matters most to you.

Let’s Talk About Your Valuables

If you're not sure whether your current policy protects everything it should, I can help.

Let’s schedule a quick review of your belongings, sublimits, and risks. There’s no pressure or sales gimmicks, just real clarity so you can feel confident that your valuables are protected.

Click here to book a call. I’ll help you find the right balance of coverage and cost, so nothing important slips through the cracks.