Did you know that over $100 million worth of jewelry is stolen each year according to the FBI? This is exactly why it makes sense to have your jewelry insured. Losses in 2023 alone amounted to $133.2 million, making it a “historically high” crime rate. There are a lot of risks involved in keeping jewelry at home or on your person, and having one’s jewelry insured is extremely important. Even though insurance can’t bring back precious heirlooms, it can definitely compensate for the financial loss. That itself goes a very long way to provide comfort and succor.

Why should one worry about jewelry protection?

Jewelry is more than just a set of valuable items—it’s often sentimental, sometimes including irreplaceable heirlooms. Given the value, it comes as no surprise that having jewelry at home increases the risk of robbery and organized crime. People who wear valuable jewelry, live with the fear of being mugged in many of the metro areas of our country.  For instance, the NYPD recently released a warning of an unknown person on a moped who snatched chains from pedestrians in the city. The number of robberies in New York has spiked by 4.3%, with a rise in armed robberies that target people who wear expensive jewelry.

However, it doesn’t have to be so grim, having your jewelry protected will allow you to confidently hand over all your valuables to ensure your safety, knowing fully that the financial loss will be recovered.

Common risks to Jewelry

While having a good cover in place is essential, it’s important to understand the threats and risks involved with jewelry.

• Theft and Burglary: Jewelry is a top target for burglars because of its high value and portability.

• Damage and Loss: Besides theft, every jewelry owner will understand that everyday wear can lead to damage. This could look like a few gems or stones falling out, scratches or abrasions, broken clasps, and so on. Having a good policy will cover all your costs of repair or for missing parts.

• Travel Risks: There’s a notable risk of traveling with jewelry, where items can be lost or stolen in transit or unfamiliar places.

Tips to keep your jewelry safe

There are lots of measures you can take to keep your jewelry safe. For starters, homes should have a high-quality safe for storage, pieces that aren’t worn very often should be in a safe deposit box. Another detail that’s often overlooked is regular inspection of valuable pieces to check for loose stones or weak clasps which may lead to losses. Regular cleaning and maintenance should be in place with a good jeweler so that your jewelry looks as good as new. Lastly, it’s also advisable to avoid wearing expensive pieces in risky environments or in unfamiliar places.

​​Recently, a string of burglary cases are now being referred to as an “epidemic” of elite criminal crews targeting Asian homes in Colorado. Besides cash, massive amounts of jewelry and watches have been stolen from the homes of Asian business owners. An Asian owner’s home in Thornton was robbed and criminals got away with $90,000 in cash, six gold bars, and a $20,000 diamond ring. This is why having jewelry unprotected at home is a big risk. Some elite crews have gone as far as putting trackers on the cars of the victims’ homes and hiding cameras in their homes.

Get peace of mind with the right insurance

While you can and should take preventive measures, theft and robbery are impossible to predict, and can happen anywhere at any time. Jewelry insurance is the best way to secure your valuables even in the worst-case scenario. The right insurance cover however can save you from hundreds of thousands of dollars of damages.

We custom make our plans to ensure that our insurance will protect you from every risk that life may throw at your jewelry. We cover costs in case of loss, theft, damage, disappearance, travel, and even inflation. We also cover damages from natural disasters such as floods, hurricanes, earthquakes, and more. What’s not covered is damages during war, military action, rodent or pest infestation, and a few more. At Gonzalez Insurance, we ensure a smooth, swift process of tailor-making a custom policy, so you get the protection you need. It’s hard to put a price on peace of mind and having a good policy in place goes a long way in keeping valuables safe.