The Milano Cortina 2026 Winter Olympics feature 16 disciplines across 8 sports and will award 116 gold medals, over 735 athletes will receive (total) medals (this includes silver and bronze).
Do you ever wonder what it takes to insure an Olympic medal – something considered irreplaceable and special.
The Olympic medals symbolize years of dedication, perseverance and skill, and while they aren’t exactly worth their weight in gold, they’re priceless to the few who earn them.
Insuring an Olympic medal involves scheduling it as a high-value, unique item under a personal homeowners or specialized insurance policy, often based on an agreed valuation rather than just the raw metal worth.
Key Aspects of Insuring an Olympic Medal:
- Medal + Agreed Value: Due to rising metal prices, the 2026 medals are expected to be some of the most valuable, with gold medals estimated to be worth around $2,300 each. Insurers determine value based on the “perceived” worth, which can be thousands of dollars (can depend on the athlete and the sport).
- Scheduling/Riders: The medal is typically added as a “scheduled” item with an “other” category in a homeowners policy, ensuring coverage for specific risks.
- Documentation: A detailed description and photos are required to prove ownership and condition.
- Replacement Costs: While the medal is invaluable, insurance generally covers the costs associated with the International Olympic Committee (IOC) producing a replacement ($500–$1,400).
Under the partnership between the USOC and Liberty Mutual, the insurance company will cover each medal for $5,000, factoring in the labor to make the replicas and shipping costs.
Unless athletes had their own insurance on their medals or had coverage through their homeowners insurance, they had to pay out of pocket for the replicas, which cost between $500 to $1,200, according to the USOC.
Working with specialized insurance agents like Howard & Gay Insurance is recommended to properly cover the medals.
SIDE NOTE: It’s been reported that Tara Lipinski,1998 Winter Olympic gold medal winner in figure skating and NBC Sports analyst has her medal insured for $1 million.
