Michigan woman, 86, says a stranger used a kiss to steal her $20K gold necklace and bracelet without her even noticing

Meanwhile, Country Financial warns that, while homeowners insurance does often cover jewelry stolen outside of the home, “Most insurers require proof of theft, usually in the form of a police report with an itemized list of stolen items.”

But the Insurance Information Institute notes the important caveat that “the standard (homeowners insurance) policy has a relatively low limit of liability for theft, generally $1,500.” Policies can vary, so it’s best to ask what you’re covered for.

The Insurance Information Institute’s Loretta Worters previously told Moneywise that jewelry should “be professionally appraised every three to five years, or as recommended by the insurer” to account for a change in value over time.

For particularly expensive pieces, jewelry insurance outside of your existing insurance policy adds an extra layer of protection in the event of a theft.

Know how to protect yourself from jewelry swap scams

Of course, the best way to avoid falling victim to a jewelry swap scam is to know how to avoid them in the first place. To that end, police departments offer these tips:

• Don’t let a stranger get too close: Staying a safe distance from anyone who approaches or tries to get you to come closer to them — and refusing physical contact or offers to try on items — can stop a scammer from swapping your valuables for fakes.
• Be suspicious of strange offers: The Nassau County Police notes that unusual forms of payment, like someone offering you jewelry or a necklace as thanks for helping them, should be a red flag that a scam might be occurring.
• Keep valuables close: Always make sure that you hold your valuables close and avoid leaving them exposed or unattended in public. It’s also important to be aware of your surroundings and not get distracted if a stranger approaches.
• Trust your gut: Don’t stay in an uncomfortable situation. If you think a scammer is trying to pull a fast one, leave the area and find somewhere safe. It’s also not a bad idea to alert authorities.
• Make sure your older relatives are aware too: Since so many of these jewelry swaps target seniors, it’s important to talk to older relatives about such scams, the warning signs and ways they can avoid potentially losing jewelry or other valuables that hold special meaning to them.