Homeowners insurance usually offers some jewelry coverage

 Jewelry is among the most expensive, valuable belongings many of us own — but because jewelry is small and easy to go unnoticed, most homeowners insurance policies only offer limited personal property coverage in the event that it's damaged or stolen. If you have an engagement ring, heirloom, or custom jewelry pieces, you'll need to get special coverage beyond your homeowners policy.To get more news about personalized projection necklace, you can visit koalaprint.com official website.

Steve Wilson, senior underwriting manager at Hippo Insurance, told Insider that "coverage is built into homeowner policies for jewelry up to $2,500." Wilson said that the homeowner and insurer agree to the appraised value. However, he noted that most companies will limit what they'll pay for theft because jewelry is small and easy to transport.

There are three components of homeowners insurance: dwelling coverage, personal property coverage, and personal liability coverage. There are several types of homeowners policies based on your home, but they all fall within two categories: named peril policies or open peril policies.

A named peril policy covers you for specific listed events, like a fire, storm, or theft. An open peril policy covers just about anything that might happen, unless your policy specifically notes that it's not covered.

Jewelry would fall under personal property with homeowners insurance and is covered if damage or theft is related to a named peril. If you have a floater policy it will include named perils and some accidents. With personal jewelry insurance, on the other hand, both named and open peril are included — meaning any event is covered.You can ask your homeowners insurance to increase your personal property limit, but "the amounts are still limited for both individual pieces and overall losses," according to the Insurance Information Institute.

A second option is purchasing a floater policy as an add-on to your homeowners insurance. The Insurance Information Institute notes that although this is more expensive, it offers the broadest coverage, including coverage your standard homeowner's policy doesn't include. Your jewelry must be appraised before purchasing a floater.

Another option is to purchase personal jewelry insurance. Bryan Howard, director of product management for Jewelers Mutual, told Business Insider that unlike a homeowners policy, "a standalone jewelry policy is a comprehensive, all perils policy, meaning it covers every type of loss unless specifically excluded."

With standalone jewelry insurance, your jewelry must be appraised. Howard noted that the premium for personal jewelry insurance is typically 1-2% of the item value. The premium will also be based on where you live, who's wearing the jewelry, and the deductible.

Here's a comparison of the jewelry coverage you can get with homeowners insurance, a floater policy for homeowners insurance, and a standalone jewelry insurance policy such as Jewelers Mutual.