Is separate jewellery insurance worth it in Germany?

In short

Separate jewellery insurance (Schmuckversicherung) is worth it in Germany if your jewellery exceeds the valuables limit of your contents insurance, often around 20 percent of the sum insured, or if you wear expensive pieces every day. Only it can pay for loss and damage. Expect roughly 1 to 3 percent of the value a year.

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Is separate jewellery insurance worth it in Germany?

What it costs

Examples for jewellery insurance in Germany, as of October 2026.

Example	Typical range
Ring worth EUR 1,000, theft and robbery only, 10 percent excess	from about EUR 24 a year (EUR 1.98 a month)
Single item up to EUR 3,000, with loss and damage	about EUR 30 to 90 a year
Jewellery worth EUR 10,000, with loss and damage	about EUR 100 to 300 a year
Collection worth EUR 30,000	about EUR 300 to 900 a year

The first example comes from a published sample calculation.

The other ranges are guide values from quoting practice based on 1 to 3 percent of the value.

Your premium depends on the piece, your address, the excess and the cover level.

Worked example

Couple, 80 square metres, jewellery worth EUR 18,000

How big the gap is when only contents insurance pays, and how to close it.

Contents sum insured (80 × EUR 650)	EUR 52,000
Valuables limit 20 percent	EUR 10,400
Total jewellery	EUR 18,000
Gap after a burglary	EUR 7,600
Jewellery policy for ring and watch, EUR 9,000, with loss	about EUR 90 to 270 a year

The two pieces you wear are then also covered against loss; for the rest a higher valuables limit in your contents policy is often enough.

What German contents insurance pays for jewellery

In German contents insurance (Hausratversicherung) jewellery counts as valuables (Wertsachen). Valuables have their own cap, usually around 20 percent of the sum insured. Outside a certified safe the limits are often lower still.

Contents insurance also pays only for named perils: burglary, robbery, fire, water from pipes, storm. A ring that slips off while swimming or a necklace lost on holiday is not covered.

Situation	Contents insurance	Jewellery insurance, all risks
Burglary at home	yes, up to the valuables limit	yes, up to the sum insured
Ring lost while swimming	no	yes
Stone falls out of its setting	no	yes
Theft from a hotel room	only limited, via cover away from home	yes, worldwide

When separate jewellery insurance is worth it

Separate jewellery insurance pays off in two cases: your jewellery is worth more than the valuables limit, or you wear an expensive engagement ring, wedding ring or bracelet daily and worry more about losing or damaging it than about a burglary.

If you often travel with jewellery, a worldwide jewellery policy also helps, because it is not tied to your flat.

When you do not need it

If your jewellery stays well below the valuables limit of your contents insurance and is mostly kept in a safe, contents insurance is usually enough. It is then cheaper to set the sum insured correctly than to insure each piece separately.

For costume jewellery or pieces below a few hundred euros separate jewellery insurance is rarely worth it: premium and excess quickly eat up the benefit.

Cover levels and excess

Jewellery policies come in levels. Basic levels pay only for theft and robbery, middle levels also for damage, the top level also for loss. If losing your ring is your main worry, you need that top level.

The excess on jewellery policies is often a percentage of the claim. A higher excess lowers the premium but costs you more when something happens.

Proving what your jewellery is worth

Photograph every piece with a scale next to it, keep receipts and certificates and note engravings. For inherited jewellery a report by a sworn expert or gemmologist is the safest proof.

Have the value checked every few years, as gold and gemstone prices move.

Step by step

List every piece with value, photo and receipt.
Look up the valuables limit in your contents insurance terms.
Split pieces into worn daily and kept in the safe.
Check jewellery insurance with loss and damage for the pieces you wear.
Compare quotes with the same cover and excess.

Checklist

Valuables limit of your contents insurance known
Limit outside the safe checked
Loss and damage explicitly covered
Worldwide cover for travel
Photos, receipts and valuations stored safely

Common mistakes

Assuming contents insurance pays when you lose a ring
Leaving jewellery out of the contents sum insured
Choosing the cheapest level that only covers theft

Questions and answers

Frequently asked

Does contents insurance pay if I lose my ring?

No.

It pays only for named perils such as burglary or fire.

Loss is only covered by jewellery insurance on an all risks basis.

How much jewellery is covered by contents insurance?

Usually up to about 20 percent of the sum insured for all valuables together,

often less outside a safe.

Your terms give the exact figure.

What does insuring a wedding ring cost?

For a ring worth EUR 1,000 policies start at about EUR 24 a year,

but only against theft and robbery.

Cover for loss costs more.

Do I need a valuation?

For new jewellery a receipt is often enough.

For heirlooms or pieces without receipts an expert valuation is the safest proof.

Who arranges the policy?

Norman Nammert arranges cover as an insurance broker (Versicherungsmakler).

The insurer pays the commission, so the service is free for you.

Sources

NAMMERT insurance broker

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