A standard home insurance policy will typically have coverage for your jewelry, watches, gems, and furs built in with a special limit of insurance that is lower than your standard personal property limit. On a typical homeowners policy, the limit given to jewelry and watches is usually between $2,000 and $7,000.
To increase your coverage in this area, there are two things you can do:
1. Buy an “enhancement” that increases your limit. Insurers typically offer one that doubles your jewelry limit for a premium increase of about $50.
2. Schedule your items. This means recording the specifics of your items (ie. make, model, cost, etc) with your insurance company and they will provide coverage for that specific item on top of your standard jewelry limit for an additional premium. The premium increase depends on the value and convertibility of your item.
I originally wrote a version of this for Insuranceopedia.