5 reasons celebrities insure their jewelry (and why you should too)

While esteemed jeweler, Lorraine Schwartz, may have asked Sandra Bullock to wear her specially designed diamond and platinum earrings and diamond bracelet, worth $8.2 million, Schwartz wasn’t about to insure it while Bullock was wearing it. That was Bullock’s responsibility, even though she was only borrowing the pieces. Once you purchase a piece of jewelry, it’s your responsibility to protect it – and insure it to market value – so if something happens to it, you’ll be able to fully replace it.

Did you know Beyonce wore a diamond necklace worth $12 million to the 2017 Grammy’s? Held together by a mere clasp, she was wise to take it off when she performed. You’d be surprised how many people lose necklaces and other jewelry, simply because a clasp breaks or an earring comes out. The right valuable articles insurance policy will cover your jewelry if it breaks, is stolen or lost (even if you only lose one earring out of the pair).

While criminals dare not try to nab celebrity jewelry while they are walking the red carpet, they may try to snatch your fine jewelry pieces if given the chance. However, more often than not, jewelry is simply misplaced or lost. It is smart to have insurance that will cover you if you lose a piece (or two) by accident.

You better believe that Jennifer Lawrence didn’t put diamond necklace, earrings, and ring, worth $3.5 million she borrowed for 2014 Oscars the in a hotel room safe. She put it in the bank vault, or if staying at a hotel, in the hotel’s main (extra security) safe. You should do the same with your jewelry. Too many people have keys to hotel room safes, and you may not want to trust all of them with your precious jewels.