She deserves better than a $3000 limit.
Aug 21 2026 — The special limits buried in standard home insurance — and why they were never built for the collection you're building.
READING TIME: 5 Minutes
PEEL REGION, ON - Open your home insurance policy.
Find the section called Special Limits or Specialty Property Combined Limit.
Read it.
If you're on a standard retail carrier — you're looking at something like this: personal property insured up to a $10,000 limit, inclusive of all such property, and a maximum of $3,000 per item for any single occurrence of loss or damage.
Ten thousand dollars combined. Three thousand per item.
And for jewelry, watches, gems, and pearls — that $3,000 limit only applies when the loss is caused by theft, attempted theft, or mysterious disappearance.
If a stone falls out of a setting. If a clasp breaks and something is lost. If a piece is damaged rather than stolen — the mysterious disappearance clause doesn't help you. You're working with whatever the broader policy allows, which is often nothing for that category of loss.
This is the policy most growing families carry on their way up. It's a starting point. The question is whether you've outgrown it.
What You've Actually Built
Let's be honest about what a private client household accumulates over a lifetime.
The engagement ring that started everything. The wedding band. Anniversary pieces chosen with care. A necklace from a trip that you still think about when you wear it. Earrings that were a gift when your first child was born. A bracelet from your mother that cannot be replaced at any price.
Pieces your children received at their milestones — gold chains, diamond studs, gifts from grandparents and aunties who give with love and with intention.
A partner who has been adding to your collection over the years — a Cartier for a birthday, a piece spotted in a window on a holiday, something meaningful chosen for a meaningful moment.
And the items that honour a legacy — an inheritance from a grandmother, wedding gifts from families who give with purpose, pieces acquired abroad that carry a memory as much as a value.
Each one meaningful. Each one worth protecting properly.
The standard retail policy was not designed for any of this. It was designed for the average household. Your household stopped being average a long time ago.
There is something else worth saying here — and it rarely gets said.
Many clients already know this gap exists. They've thought about it. They've noticed that the number on the policy doesn't match what's in the box. But the conversation never happens — because disclosing the full picture of what you own to someone you don't fully trust feels uncomfortable. Intrusive, even.
A jewelry collection is personal. It marks real moments. The pieces that were inherited carry weight beyond their value. The ones that were gifts tell a story you don't necessarily want to hand over to a stranger on a renewal call.
Maverick operates at a different level of discretion. Our private clients share these details because the relationship warrants it — not because they were asked to fill out a form. What you own, what it's worth, and what it means to you stays exactly where it belongs. Handled with the same care you give the pieces themselves.
“This is one of the first conversations I have with a new private client household. Not about the home. Not about the cars. About what's in the home. Because in almost every case, what's in the jewelry box exceeds what the policy will actually pay out — and the conversation has simply never happened."
— Bram Bains, Maverick Insurance Brokers
The Retail Experience vs. The Private Client Experience
When I was recently reviewing a colleague's personal policy — a seasoned commercial insurance broker who knew the industry well but had never had his personal coverage properly audited — I ran his existing jewelry floater through our retail carriers first to gauge the baseline.
Before even approaching the high-value markets, I ran it through our retail carriers first — I wanted to see whether his existing policy was at least in the right ballpark.
The underwriter came back asking for formal appraisals on a $10,000 blanket.
Hundreds of dollars in appraisal fees. Appraisals that need to be refreshed every few years. Significant administrative friction just to maintain basic coverage on pieces that most private client families acquire as a matter of course.
Then I moved it to one of our high-value private client carriers.
The appraisal requirement didn't trigger until an individual item exceeded $100,000.
Same jewelry. Completely different experience.
What Private Client Carriers Actually Offer
No appraisal required below $100,000 per item - Chubb and Intact Prestige don't require formal appraisals for individual pieces below $100,000. You can schedule your collection accurately without the cost and friction of professional appraisals every few years just to maintain coverage.
Worldwide blanket coverage including mysterious disappearance - The mysterious disappearance exclusion that catches most retail policyholders off guard doesn't exist in the same way on a private client policy. Worldwide coverage. All-risk basis. If it's gone, the policy responds.
Newly acquired items covered automatically - This is the detail that matters most for professionals who travel, who receive meaningful gifts, who mark milestones with pieces of real value. High-value carriers typically cover newly acquired items for a meaningful period before you even need to report them to your broker.
A piece purchased in Paris. A gift received at a wedding. A watch acquired at an estate sale. Covered from the moment you take ownership. Without a phone call.
Agreed value — not actual cash value - When a scheduled item is lost, a private client policy pays the agreed value. The number on the schedule. No depreciation conversation. No preferred vendor replacement. No negotiation. A $50,000 piece that is lost pays $50,000.
Pairs and sets - If one earring from a pair is lost, a retail policy typically pays for the one piece. A private client policy recognizes that a single earring has diminished the value of the set — and responds accordingly. The pair is the asset. The policy reflects that.
The Standalone Jewelry Policy
For the right client — a professional with a meaningful collection, a household where jewelry represents a significant portion of personal assets, or someone who simply wants dedicated coverage separate from the home policy — Chubb offers a standalone jewelry policy.
This is not widely known. And it was designed with a specific client in mind — someone who has curated something worth protecting properly, and who wants a coverage structure that reflects what they actually own.
A standalone policy means the collection has its own dedicated limits, its own claims process, and its own relationship with the carrier. Independent of whatever else is happening with the home policy at renewal.
“Chubb's standalone jewelry policy is one of the best kept secrets in the private client space. It's built for the professional who is building a collection with intention — who wants it documented properly and understands that the right coverage is part of protecting something they’ve worked for or that they’ve been given with love to steward forward. It's also one of the best ways for us to start a new private client relationship."
— Bram Bains, Maverick Insurance Brokers
This Conversation Is for You If:
You came back from a trip with a piece you love and it's sitting in a drawer without the right coverage behind it.
You received significant jewelry as a wedding gift and have never had a conversation about whether those pieces are properly scheduled.
Your collection has grown over the years — piece by piece, milestone by milestone — and nobody has ever audited it against what your policy actually covers.
You inherited pieces from a parent or grandparent and don't know what they're worth or whether they're insured at all.
Your daughter received meaningful gifts and you've never thought about whether they're covered under your policy.
If any of this sounds familiar — the conversation starts with a call. It's a short one. And it's worth having before you need it.
The $3,000 Limit Doesn't Know What It's Protecting
The policy language referenced in this article is real. It's a standard retail policy. It's a solid starting point for where most families begin — not necessarily where you are today.
The $3,000 per item limit wasn't designed to fall short of what you've built. It was designed for a different moment in the journey.
The question is simply whether that moment has passed.
For most people reading this — it has.
Coverage details vary by carrier and policy. Speak with a licensed private client advisor to review your existing coverage and confirm the right structure for your household.
About Maverick Insurance Brokers
Maverick Insurance Brokers is an independent private client advisory based in Brampton, Ontario. Founded by Bram Bains, Maverick serves entrepreneurs, business families, and community leaders across Ontario — providing direct access to a trusted advisor across home, auto, high-value assets, and commercial insurance. Maverick is a member of the MIB Broker Distribution Network and an official partner of the Brampton Honey Badgers (CEBL).
Maverick works with Canada's leading private client carriers — including Chubb and Intact Prestige— to deliver insurance programs built around the assets, lifestyle, and risk profile of each client.
Maverick Insurance Brokers has been recognized by Insurance Business Canada and Canadian Underwriter as a voice in the private client advisory space in Ontario.
for more information visit - maverickinsurance.ca
Book a Private Consultation with Bram Bains
If you're stepping into a new position of responsibility and haven't had a proper review of your insurance program — that conversation is worth having. No pressure. No obligation. Just a straightforward discussion with an advisor who is building alongside you.
