Frequently Asked Questions

FAQ: Getting started

How much does jewelry insurance cost?

In most cases, jewelry insurance costs about 1-2% of the value of the jewelry per year. So a $5,000 ring would cost $50-$100 per year to insure.

You can quickly and easily check your rate for your jewelry items.

How do I apply for insurance?

You can apply for insurance online or by calling us at 888-884-2424. Sorry, we no longer accept printed or paper applications.

What is a deductible?

A deductible is an amount of money that you have to pay for something before an insurance company replaces the item. When your deductible increases, your premium decreases and vice versa.

With Jewelers Mutual Group, you choose your deductible. Options start at $0.

What is a premium?

The amount paid to maintain insurance coverage, typically yearly. You pay this portion regardless if you file a claim or not.

While deductibles and premiums are separate entities, they're interrelated. The higher deductible you choose, the lower your premium will be.

Who is eligible? Who can purchase coverage?

US or Canadian residents (excluding Québec) over the age of 18 are eligible to apply. The person wearing the jewelry item must also live within the US or Canada (excluding Québec). You must be in possession of the jewelry at the time you apply for insurance, and the jewelry must not need repairs or maintenance. If you have concerns about eligibility call us at 888-884-2424 or apply online.

Do you offer payment plans?

If your yearly premium is over $200, you may qualify for a payment plan. This option will be available when you apply for insurance. We do not offer monthly payment options.

What do I need in order to apply for coverage?

If someone else wears the jewelry: Wearer's Name and Address

If the wearer has an alarm system: Alarm System Details

Documentation: To apply, you only need the appraisal value (if it's been appraised) or full purchase price of your item(s). It's highly recommended that you upload an appraisal or detailed receipt, to ensure exact repair or replacement in the event of a claim.

Don't have documentation on you? Apply now, upload later. That way your coverage can start ASAP.

Do you offer discounts?

Yes. Depending on your state, discounts may be available if you have a security system at home, store your jewelry in a safe deposit box, or if you have documentation showing your jewelry has been inscribed with an identification number from one of our approved industry partners, known as a “Gem ID”.

What is my rate based on?

Your rate is based on the information you provide when you apply for insurance such as your location and the value of the item. A consumer report/credit-based insurance score provided by a third-party (where approved) might also be used.

In some cases, someone from Jewelers Mutual Group may need to reach out to you to ask about the nature of the item you want to insure, how frequently it’s worn, or where it’s stored.

How long does it take for coverage to go into effect?

In many cases, you can be covered the same day you apply and purchase insurance. Sometimes we need additional information, and if that’s the case, we’ll reach out within two days of receiving your application. Coverage might go into effect later for these individuals, depending on when we receive the information we requested.

What does the process look like?


  1. Estimate your rate. Tell us what you need to insure, how much it’s worth, and where you live, and estimate your rate (with different options for deductibles) in less than one minute.
  2. Apply for coverage. Tell us a bit more about yourself and your jewelry and, in more cases, your coverage starts immediately. If someone else wears the jewelry, tell us about them too.
  3. Wear your jewelry, worry-free. Rest assured that your jewelry is protected. And if something does happen, you’ll get to work directly with your jeweler to repair or replace your piece, exactly like it was before.
  4. File a claim. This is where you tell us what happened. And also when we start to do things a little different than more insurers.


What's the status of my application?

Contact us at 888-884-2424 or [email protected] for information on the status of your application.

What is a repair/replacement policy - can I get cash instead?

Your policy with Jewelers Mutual Group is a "repair or replacement policy." It's different from a cash payment policy like you may have seen with other types of insurance. With a repair or replacement policy, we step in for you and work with your jeweler of choice. You don’t have to worry about explaining every detail of your original piece so the jeweler can match it. Claim professionals work with your jeweler to make sure that you're happy with your repaired or replaced piece. The result is jewelry that's the same kind and quality as your original piece.

Traditional insurance policies usually reimburse you to fix or replace your jewelry. When this happens, you’re left to deal with the emotional toll of the loss and the stress of finding an equal replacement.

What if my tastes have changed or I want to upgrade?

We’ll pay your jeweler the cost to replace the same item you originally had. You can choose to use those funds towards an upgraded piece or choose something completely different. If the cost of the piece you choose is higher than the original piece, then you pay the difference.

When should I purchase insurance?

We recommend buying insurance as soon as the item is in your possession - even if you hand it over to the jeweler for resizing. You can buy insurance at any time, as long as the item doesn't need repairs.

Should I insure a wedding set as two separate items?

If they're soldered, you should insure it as a single piece. If your set is two separate pieces, then insure them separately.