Many people ask me if their wedding and engagement rings are covered by their Homeowners Insurance policy. The answer is yes and no. Just about all homeowners policy will have some minimal amount of coverage for jewelry built into the policy. But it covers for theft only, and usually the amount covered for theft is $1000.
There is "optional" coverage which can be purchased that will cover your rings to the "appraised" amount. In other words, you can add the optional jewelry coverage that will replace lost or stolen rings or diamonds. Your Homeowners policy can be endorsed to cover the rings if you loose them swimming or working in your garden.
To add this protection, you must take an appraisal describing the jewel and setting to your insurance agent and she can endorse or add it to the policy. It is now scheduled on the policy.
Typically you will receive an appraisal from the store where you purchased the ring. If not, or if it is a ring or peice of jewelry you inherited, you would take the peice to a qualified jeweler and they can provide you with an appraisal.
Ask your agent about coverage for your valuable rings, they can easily help you get the coverage you need.