Is jewelry insurance worth it?

Is jewellery insurance worth it in Australia, yes for expensive jewellery over $2,000 like engagement rings $5K to $30K and Rolex watches $10K to $50K, it is worth it for $150 to $300 per year per $10K value, providing protection against theft, loss and accidental damage worldwide, which would cost $10K to $50K to replace out of pocket. For example, $10K engagement ring insurance costs $150 to $250 per year via contents specified or standalone, which is 1.5% to 2.5% of value, so over 10 years you pay $1,500 to $2,500, but one loss would cost $10K to replace, so insurance pays for itself if you have one claim in 40 years. Average theft of jewellery in Australia 100K burglaries per year, with jewellery target, and loss of ring common, with 1 in 10 engagement ring owners losing ring. Without insurance, you bear full replacement cost $10K to $30K, which many cannot afford. With insurance, you get same day replacement with $0 excess from specialist like Q Report and Jewellers Mutual, and worldwide cover including travel. For cheap jewellery under $1,000 like fashion jewellery, it may not be worth it as contents unspecific limit $1,000 per item covers it, and premium $50 per year may exceed value. So jewellery insurance worth it for expensive jewellery over $2,000, especially engagement rings and luxury watches, costing $12 to $25 per month for $10K cover, providing peace of mind, but not worth it for low-value fashion jewellery under $1,000.