Valuable items insurance in Virginia

What does Virginia require for valuable items insurance?

Virginia does not require residents to buy a product labeled valuable items insurance. There is no statewide statute that forces every homeowner or renter to schedule jewelry, fine arts, or collectibles.

What Virginia does regulate is how scheduled personal property is treated when it is written: under § 38.2-2120(B), insurers issuing or delivering new or renewal homeowners policies — or stand-alone policies that cover scheduled personal property — must offer in writing a provision covering diminution in value of that scheduled property when the schedule provides for repair, for policies issued, delivered, or renewed by a licensed insurer on or after July 1, 2025.

In practice, "valuable items insurance" usually means a Scheduled Personal Property Endorsement (sometimes called a jewelry endorsement or personal articles floater) or a stand-alone schedule. The Virginia SCC Homeowners Insurance Guide recommends listing valuable possessions separately when special limits on the base policy are too low.

What are the minimum limits in Virginia?

Virginia does not set a statutory dollar minimum for jewelry, fine arts, or other valuable-items schedules. Schedule limits are chosen with the applicant and underwritten by the insurer, often with appraisals or bills of sale.

On the unscheduled homeowners layer, the Virginia SCC Homeowners Insurance Guide illustrates typical special limits that can leave high-value items underinsured. The guide states you may receive a total of only $1,500 for all furs or jewelry stolen in a single theft, notes a usual $500 limit for securities, receivables, travel tickets, and stamp collections, and a typical $100 limit for money, coins, or bank notes — and it tells consumers additional amounts can be purchased by scheduling items separately.

Those SCC figures are consumer-guide illustrations of how many policies treat special limits — not Code of Virginia floors. Your declarations page controls.

What are the penalties for operating without coverage in Virginia?

Virginia will not fine you solely for not buying a jewelry floater or scheduled personal-property endorsement. There is no statewide penalty analogous to driving without required auto liability coverage.

The practical consequence is financial: after a theft or damage claim, unscheduled jewelry and similar items may be capped by the base policy's special limits. The SCC guide's $1,500 jewelry-or-fur theft illustration is the gap scheduling is meant to close. Without a schedule, you also may lack agreed or stated values, broader peril wording, or world-wide coverage some floaters provide — subject to the actual form.

How much does valuable items insurance cost in Virginia?

No freely published Virginia statewide average premium for valuable-items, jewelry floater, or scheduled personal-property coverage was available from the NAIC or Virginia SCC for this page. We therefore omit a dollar rate table rather than invent figures.

Premiums still vary by item type (jewelry, fine arts, cameras, instruments, collectibles), total scheduled value, valuation method (actual cash value, replacement cost, agreed or stated value), deductibles, claims history, how items are stored or worn, and which carriers will accept the schedule. A single ring schedule is priced differently from a fine-arts collection.

Epic Insurance Group shops 13 carriers for clients we serve. Your premium is a carrier quote for your schedule — not a statewide average. Call (540) 269-1301 or request a quote for numbers that apply to you.

What makes Virginia different: schedules, special limits, and diminution offers

Two Virginia-facing facts matter most for jewelry and collections shoppers: the SCC's consumer guidance on special limits and scheduling, and the statutory diminution-of-value offer for repairable schedules.

§ 38.2-2120(B) — written diminution-of-value offer for scheduled personal property

Any insurer who issues or delivers a new or renewal homeowner's insurance policy or a stand-alone policy that covers scheduled personal property in the Commonwealth shall offer in writing a provision providing coverage for the diminution in the value of any such scheduled personal property, if the schedule provides for the repair of such property.

Under the statute, diminution in value is the amount — if any — by which the market value of the personal property immediately after repair is less than its market value immediately before the damage, when that change is a direct result of damage from the covered loss. The provisions of subsection B apply to every such policy that is issued, delivered, or renewed by an insurer licensed in the Commonwealth on or after July 1, 2025.

The offer is mandatory; buying the provision is still your choice. It is a Virginia-specific shopping checkpoint whenever a schedule contemplates repair rather than only total loss.

VA SCC guide — typical jewelry/fur special limits and Scheduled Personal Property Endorsement

The Virginia SCC Homeowners Insurance Guide explains that coverage for certain property types that are especially susceptible to loss — including jewelry and furs — may be limited to very small amounts. The guide states you may receive a total of only $1,500 for all furs or jewelry stolen in a single theft, and that additional amounts of insurance can be purchased by scheduling those items separately.

The same guide recommends getting extra insurance for the most valuable possessions by listing each item separately on a Scheduled Personal Property Endorsement — especially for furs, jewelry, manuscripts, coin or stamp collections, securities, money, and gold or silver, as well as particularly valuable categories such as fine arts, musical instruments, antiques, photographic or stereo equipment, video equipment, oriental rugs, and silverware.

§ 38.2-2120(A) — sewer/drain backup offer (related homeowners duty)

Separately, § 38.2-2120(A) requires insurers issuing new or renewal homeowners policies in Virginia to offer coverage for loss caused by water that backs up through sewers or drains. That offer is not a valuables mandate, but it sits on the same homeowners contract many schedules attach to — and it is easy to miss when the conversation focuses only on jewelry limits.

Which Virginia-specific coverages should valuable-items shoppers consider?

Descriptions below are general placement categories, not a guaranteed package. Policy terms control. Virginia statute citations appear where the Commonwealth imposes an offer duty.

• Scheduled Personal Property Endorsement. lists jewelry, fine arts, instruments, and similar items by description and limit on the homeowners or renters policy; the form the SCC guide recommends when special limits are too low
• Personal articles floater / stand-alone schedule. stand-alone scheduled personal-property policy when the carrier or risk needs a separate contract; § 38.2-2120(B) diminution offer also applies to stand-alone schedules that provide for repair (on/after July 1, 2025)
• Jewelry / collections valuation. appraisals, bills of sale, and agreed or stated values where the form allows — the base policy's unscheduled special limits are not a substitute for a schedule
• Diminution-of-value provision (offer). must be offered in writing for repairable scheduled personal property under § 38.2-2120(B) for qualifying policies on/after July 1, 2025; still optional to buy
• Primary homeowners or renters. the unscheduled personal-property layer still matters for everyday contents; schedules carve out or sit above special-limit categories
• High-net-worth / multi-policy packages. larger collections often sit alongside excess homes and umbrella — see our Virginia high net worth and homeowners pages for related property and liability layers

Justin Miller at Epic Insurance Group in Roanoke can help decide whether a jewelry endorsement, broader schedule, or stand-alone floater fits your inventory — and confirm the § 38.2-2120(B) diminution offer was made when the schedule provides for repair.

What does valuable items insurance cost in Virginia cities?

Published free city-level average premiums for jewelry floaters or scheduled personal property in Roanoke, Richmond, Virginia Beach, or other Virginia municipalities were not available for this page. Schedule premiums are underwritten to the items and valuation method, not to a municipal average, so inventing a city median would be misleading.

Epic Insurance Group serves clients across the Roanoke Valley and surrounding Virginia markets from 3800 Electric Road, Suite 205, Roanoke, VA 24018. Call (540) 269-1301 for a quote based on your jewelry, collections, and appraisals — not a citywide average.

How do you file a claim in Virginia, and what are your rights?

Report theft or damage promptly to the writing carrier or your agent. Keep photos, appraisals, receipts, and police reports for jewelry and collections claims. Confirm whether the loss responds under the unscheduled homeowners personal-property limit, a Scheduled Personal Property Endorsement, or a stand-alone schedule — special limits and deductibles can differ.

If a scheduled item is repaired and you bought diminution-of-value coverage that was offered under § 38.2-2120(B), document pre-loss and post-repair market values as the statute defines diminution. If you were never offered that provision on a qualifying post–July 1, 2025 policy, ask your agent to confirm what the carrier provided in writing.

If you believe a claim or policy was mishandled, file a consumer complaint with the Virginia State Corporation Commission Bureau of Insurance. The Bureau investigates complaints and reviews whether Virginia insurance laws and policy provisions were followed — but it cannot force payment outside the policy terms or act as your lawyer.

How do you verify a license or file a complaint with the Virginia SCC?

Property and casualty insurance in Virginia is regulated by the State Corporation Commission Bureau of Insurance. Consumers can read the Virginia Homeowners Insurance Guide — including its personal-property special-limit and scheduling sections — on the SCC site.

To raise a concern about an insurer, agent, or claim, use the SCC's insurance complaint process. The Bureau accepts complaints through its online Insurance Complaint Portal or by mail or fax using the Property and Casualty Insurance Complaint Form. The Bureau states it does not accept complaints by phone or email.

Toll-free consumer assistance: 1-877-310-6560. Property and Casualty Consumer Services: 804-371-9185 (for questions — not for filing the formal complaint itself per the SCC complaint page).

Start here: File an insurance complaint · educational guide: Virginia homeowners insurance guide · statute: § 38.2-2120 .

How does Epic Insurance Group place valuable items coverage in Virginia?

Epic Insurance Group is a licensed independent insurance agency in Virginia. We shop 13 carriers for the clients we serve. Named carrier appointments for jewelry or collections programs are not listed on this page; the countable claim is the shop count, not a ranked carrier list.

Justin Miller is a Licensed Insurance Agent with Epic Insurance Group in Roanoke. Coverage descriptions on this page are general; the policy governs. Coverage is not bound or changed until confirmed by a licensed agent during normal business hours.

We are appointed with multiple carriers and are compensated by commission. We are paid the same regardless of which carrier you choose.