Frequently Asked Questions

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.

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 much should I insure my item for?

Your policy with Jewelers Mutual Group is a repair or replacement policy. It’s not a cash reimbursement policy.

The item value you choose when applying for insurance is the highest amount we will pay for your repair or replacement in the event of a loss. It's very important to get it right. That's why you might see us refer to this as the "replacement value" – because you want to choose a value that will cover you if your item needs to be replaced.

In most cases, this is the amount you see on an appraisal or detailed sales receipt from your jeweler. If you’re unsure which value to choose, please call us at 888-884-2424 for help.