Jewelry which can also be spelled jewellery, is an item that has a set limit on your property policy. Jewelry can be any personal ornament including a ring, necklace or bracelet which is made from precious metal, gemstone or other material.

Insurance companies can require appraisals for high-valued items. It can be surprising to find out that an item passed down through the family is actually made of precious stones.

"The Antique Roadshow" will talk of the sale value and the insurance value of high-priced items. You should discuss the option of adding an endorsement to your policy that declares specific items of jewelry complete with an appraisal. This also reduces deductible and gives you the peace of mind that the particular item can be duplicated if need be.

Be aware that personal property policies do have a limitation for certain claims for jewelery. If you have some nice jewelery then you should look into the limitations of your policy. The insurance answer for loss of jewelry can be anything from an estimated value to a guaranteed valuation as per your appraisal.

Often a jeweler such as "Birks" will offer valuations and cleaning of a piece of jewelery at a reasonable price. Their appraisal is acceptable as valuation to the insurance companies.