Q: At what value should jewelry and/or watches be insured? -- L.E.R., New York

A: In general, jewelry is insured to a limit of only $1,000 to $2,000 by most homeowner insurance policies. High-end insurers such as Fireman's Fund Insurance Co. often have limits of $5,000 for theft and mysterious disappearance. Check with your agent. If you own a piece or a collection that is worth more, raise your personal-articles limit, if possible. Otherwise, purchase a "personal articles floater" on your homeowner or renter policy, or buy a separate jewelry policy. Floaters and separate policies usually require that each piece be professionally appraised and inventoried. The cost of the insurance depends partly on where you keep your jewelry. If you store it in a bank vault, you may get reduced rates for "in vault" coverage, but you'll have to notify the insurer and buy additional coverage in advance if you want to wear it. The Insurance Information Institute, an industry organization, provides free, downloadable software at www.knowyourstuff.org to help you inventory your valuables.