Insuring Gold Jewellery Properly
Most home policies cover jewellery only up to a low category limit. Anything significant usually has to be listed individually, and that needs a current appraisal.
A standard home or tenant policy typically covers jewellery as a category, up to a limit that is often far below what a household actually owns. Individual valuable pieces usually need to be scheduled, meaning listed by name and value, which requires a written appraisal.
Key takeaways
- Category sub-limits are usually much lower than people assume.
- Scheduling a piece lists it individually and usually needs an appraisal.
- Rising metal prices mean old appraisals understate current replacement cost.
- Read what the policy actually says about valuables kept at home.
- Check your own policy wording. Do not rely on any general summary, including this one.
What Vanhess does and does not do
Vanhess is a jewellery shop in Coquitlam, British Columbia. We sell solid gold jewellery. We do not sell bullion, bars, coins or wafers, we do not buy or broker investments, and we are not financial advisors, tax advisors or a bullion dealer. Everything on this page is general information to help you understand how gold is priced and valued. It is not financial, investment or tax advice. Speak to a licensed advisor or an accountant before making a decision about your money.
Two ways jewellery gets covered
| Under the general contents limit | Scheduled individually | |
|---|---|---|
| How it works | Jewellery covered as a category up to a sub-limit | Each listed piece covered for a stated amount |
| Documentation needed | Usually none up front | Usually a current written appraisal |
| Typical limit | Often low relative to what people own | The scheduled value |
| Deductible | Normally the policy deductible | Often lower or nil, depending on the policy |
| Best for | Everyday pieces of modest value | Anything you would genuinely miss |
The problem rising prices create
An appraisal states replacement value at a point in time. Because a large part of that value is metal, an appraisal done when gold was much cheaper will understate what it would now cost to replace the piece.
For scale, the World Gold Council Gold Demand Trends, Q2 2026 reported the LBMA afternoon gold price averaged US$4,506.29 per ounce in the second quarter of 2026, 37 percent above the same quarter in 2025. An appraisal from several years ago may be a long way from current replacement cost.
Be careful
Being underinsured does not usually mean getting nothing. It means getting the scheduled or limited amount, which can be a fraction of what replacing the piece actually costs. Ask your insurer how recent they require appraisals to be.
What to have ready
Photographs of each piece from several angles, a written appraisal from a qualified appraiser, the original receipt where you have it, and a list with weights and karats. Keep a copy somewhere other than the house.
Frequently Asked Questions
Does home insurance cover gold jewellery?
Usually only up to a sub-limit for jewellery as a category, which is often much lower than what a household owns. Pieces worth more than that limit generally need to be scheduled on the policy individually, which normally requires a current written appraisal. Check your own policy wording rather than assuming.
How often should I update a jewellery appraisal?
Ask your insurer, because requirements vary. The reason it matters is that a large part of a piece's replacement value is metal, and the gold price moves. An appraisal from several years ago can significantly understate current replacement cost.
What does scheduling jewellery mean?
It means listing an individual piece on your policy by description and value, rather than relying on the general contents cover for jewellery as a category. Scheduled items are usually covered for their stated value and often carry a lower deductible.
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