Will my ring change in value over time?
Yes! Many people believe that jewelry depreciates in value, but your item is probably worth more now than when you purchased it. That's why we recommend getting an updated appraisal every two years.
The market value of your jewelry changes over time, while the amount you’ve insured it for stays the same if you don’t send us an updated appraisal.
Jewelers Mutual Group specializes in jewelry and understands the jewelry market. If we don’t have a recent appraisal on file, there’s a system in place to help make sure your coverage reflects changes in market values. You might see this listed as "Insurance Value Adjustment" or "IVA" on your policy. It's basically a yearly percentage increase in your coverage limit (and your premium) that's meant to keep you from being underinsured.
Is there anything I need to do after my jewelry is insured?
Nope! As long as you've sent us any documentation we asked for, like an appraisal or sales receipt, and paid your premium, your coverage has started. We’ll be in touch 30 days before your policy expires to remind you to renew.
We recommend professional cleanings and inspections twice a year, but they're not required (and they're not covered by your policy). In between professional cleanings, keep your jewelry clean with our at-home cleaning and care tips.