Why jewelry requires its own policy
High value in small packages – Engagement rings, diamond earrings and heirloom necklaces are easily lost or stolen yet may be worth tens or hundreds of thousands of dollars.
Vulnerability to damage or disappearance – Gemstones can chip, crack or loosen from settings; clasps break; rings slip off; pearls discolor if exposed to chemicals or cosmetics.
Appreciation and fluctuating precious‑metal prices – Gold, platinum and diamonds are commodities whose values change with market conditions. Coverage should reflect current market value.
Travel and lifestyle risks – Wearing jewelry at events, during travel or while swimming exposes pieces to theft, accidental loss and water damage.
“Jewelry marks life’s most significant moments. We treat each piece not only as an asset but as a memory, providing coverage built on trust and understanding.”
— Angel Garcia, Customer Success Lead
WAX Collect’s jewelry solutions
Comprehensive coverage – WAX policies cover theft, mysterious disappearance, accidental damage, natural disasters, fire, water and worldwide transit.
Scheduled or blanket options – Schedule high‑value individual pieces or insure an entire collection under a blanket policy. For blanket coverage, values are determined at time of loss up to $50,000 per item.
Agreed value and inflation protection – WAX offers agreed‑value coverage based on recent appraisals. The insurer pays the appraised amount even if market prices drop and will pay up to 150% when values have risen.
Automatic coverage for new acquisitions – New jewelry purchases receive automatic coverage (25% of category limit) for 90 days, giving clients time to schedule them.
Expert appraisals and repairs – WAX partners with gemologists and master jewelers for accurate appraisals and restoration. If a ring needs a new stone or re‑setting after damage, WAX covers the work at a qualified jeweler.
No impact on homeowners policy – Claims are handled separately and won’t raise homeowners premiums.
Proactive measures
Regular appraisals – Obtain professional appraisals every 2–3 years to reflect market changes and gemstone re‑grading.
Secure storage – Use safes and jewelry boxes; avoid leaving pieces in luggage or unattended hotel rooms. Consider a home alarm system.
Documentation and photos – Keep detailed descriptions, appraisal reports, receipts and clear photographs; they’re essential for claims and resale.
Real‑World Case Study
A client lost their engagement ring while swimming on vacation. WAX paid the agreed value and worked with a jeweler to recreate the ring using stones from the same source. Another policyholder had a pair of earrings disappear at an event; WAX covered the mysterious disappearance. Meanwhile, we know of a family whose heirloom necklace was stolen and whose homeowners policy limited jewelry coverage to $1,000, leaving them devastated.
Ready to protect your collection?
Collectors can request a quote in minutes through WAX’s digital platform, and brokers can contact us to cover everything from engagement rings to heirloom brooches.
