I dont know how renters insurance works but home owners insurance would cover that I suspect. I had a ring stolen once and they didnt bat an eye lash, paid it out in full. My wife left her 12k diamond engagement ring in a hotel and homeowners was in the process of paying for it when we found out the manager that claimed "I have not heard about it" suddenly remembered she had it once a police report was written up and the cops were asking her and her employees questions. I am sure she was intending to enjoy that nice diamond lol.