Jewelry Insurance…. Is it worth it?

It's worth about 25% of that amount.

Just my experience...I worked for a boutique insurance brokerage that handled a lot of higher end (2-10M) clients. It was usually built into their property coverage...we had a few go to underwriters that specialized in jewelry.

Most clients had between 50-250k of jewelry insured, some insurance for things like fine art & rugs as well. It's been years so not sure what premiums you'd be paying nowadays

Jewlers Mutual.

Might be cheaper to keep it in a bank safety deposit box

If it’s just going to be in your house, use your property insurance.

If worn occasionally, jewelers mutual.

As someone else said, you could get a safety deposit box and skip the insurance..

I’ve used jewelers mutual since 2003. It pretty cheap, I pay like $80 a year, especially if something were to happen.

We misplaced my wife’s rings when she was in the hospital having our son in 2009. We thought they were stolen. We went to the jewelry store and got replacements for the same value. I found the originals later and just had to turn them in to the company. They’ve also completely covered getting smaller diamonds replaced when they’ve fallen out over the years.

You can add a jewelry rider on your home insurance to cover full appraisal value. It’s cheap and worth it imo. Had to use it for a 10k ring and was a simple process.

Especially when you're dealing with historical shite not of extreme value, eventually you will pay premiums that outweigh the replacement of the item. I've already done that with VPP; spent $3k on a rifle I've owned for so long that I've paid probably $4k in a premiums.

Jewelry is never worth what it is bought or insured for.
To make this easier to grok, OP, take the jewelry you're worried about to a jeweler, and ask them to value it. It will probably be for 25% of what you're trying to insure it for. It was so much fun that we never even asked for my ex-wife's first engagement ring back from the seller, it wasn't worth it.

Appraisal on jewelry isn’t worth the paper it’s written on. It’s only worth what someone is willing to pay for it and unless it has provenance connecting it to someone or something famous it will sell for maybe a third of that appraisal.

Thanks for all the responses. I am not looking to ever sell this piece, but appreciate the insight into the appraisal process.