Guide to Jewelry Insurance

Your jewelry isn't ordinary,
so don't settle for ordinary insurance.

When it comes to your jewelry, you want to wear it,
not worry about it.

But with life comes accidents. That’s where we come in.

At Jewelers Mutual Group, we understand the common misconceptions of insurance, and we strive to combat them by offering a truly remarkable experience to our customers. We’ve been insuring jewelry and only jewelry for over 100 years. We understand how important your jewelry is to you.

Read on to learn more about specialized jewelry insurance through Jewelers Mutual and the benefits you can expect by putting your trust in us.

What's Covered

While some insurance policies may only cover jewelry theft, we cover real life. We realize you can’t always pinpoint how or where your jewelry disappeared, so we cover disappearance – a coverage often overlooked by other carriers. Jewelry that’s loved and worn doesn't stay pristine, either. So if your jewelry gets damaged, that's covered too.

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Accidental Loss

You left your ring somewhere – on a beach towel or in a public bathroom. It’s out there somewhere but you can’t find it. It’s covered.

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We all know that feeling of dread when something we cherish is stolen. But you can rest assured that your stolen piece is covered, too.

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You hit your diamond ring on the edge of a table and it cracks, or you’re pulling on a sweater and a prong is bent. Accidents happen. We’ll cover that.

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Sometimes jewelry just disappears – it could be lost, stolen or hanging out in a drainpipe somewhere. You may not be able to explain how, where or when it happened. Don’t worry, that’s covered.

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Normal Wear and Tear:

Normal wear and tear refers to the gradual wearing or damage that occurs over an extended period of use. We will pay for the following which are caused by normal wear and tear: prong retipping, broken, worn or bent prongs, broken earring posts, clasp replacement, restringing of broken or stretched pearl strands; and stone tightening. 

*Subject to availability, coverage may not be available on all policies.
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Worldwide Travel

We are available to residents in the United States and Canada*. While the home address of both the jewelry wearer and applicant need to be in the United States or Canada*, our coverage does travel with you worldwide. You can jet-set across the globe and not have to worry about wearing your favorite jewelry.

*Coverage not available in Québec.
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Loose Stones

Our policy also covers loose stones, including while they are being set by your jeweler. This coverage is not found in all insurance policies.

What's Not Covered

Sometimes what’s not covered is more important than what is covered. A Jewelers Mutual policy is an “all perils” policy that covers anything except what’s noted below (unless fraud is involved).

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War & Authority

Loss or damage due to war, military action, nuclear hazard or confiscation by civil authority, like law enforcement or other government entities, is not covered.

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Deterioration or Inherent Vice

If the piece is already weak or faulty, and that weakness causes it to break or get damaged, it’s not covered. For example, if there are tiny holes in a metal ring and those holes cause it break or fall apart.

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Damage from vermin, rodents or insects isn’t covered. So if a moth infestation affects the heirloom jewelry in your attic, you couldn’t file a claim for that.

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Intentional Actions

Purposely damaging or losing your jewelry won’t be covered. Fraud associated with voluntary parting isn’t either. If you sell your watch and the check bounces, that’s not included.

Repair or Replacement Coverage vs. Reimbursement

Many traditional insurance policies simply reimburse you for the cost to repair or replace your lost or damaged jewelry with “like kind and quality.” In these cases, you’re left to deal not only with the emotional toll of losing a sentimental symbol, but also the stress of trying to get an equal replacement for your original piece.

With a repair or replacement policy, like Jewelers Mutual’s, we step in for you and deal directly with your jeweler of choice. You don’t have to worry about explaining every detail of your original piece to help the jeweler recreate an exact match. Our jewelry claim professionals will collaborate with your jeweler to make sure that your piece is repaired to your satisfaction or replaced with a piece that’s the same kind and quality.

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

In either case, the jeweler can simply invoice us for the cost to replace what you had, and you can choose something of equal value or pay the difference if you want something more expensive.


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Insurance Coverage Limits

Many insurance policies not specifically designed for jewelry have a reimbursement limit. For example, a policy might only pay up to $1,000 for jewelry claims, regardless of the value of the piece. Consequently, you would have to pay the difference out-of-pocket to get an equal replacement.

At Jewelers Mutual, your coverage limit is customized based on the value documentation you provide for your jewelry items. (This is why having a recent appraisal is so important!) 

Jewelry Insurance vs. Homeowners Insurance

Many big-name insurers are jacks-of-all-insurance trades. Your jewelry deserves more.
See how our coverage compares to a typical homeowners policy.

Comparing Jewelry Insurance and a Homeowners Policy

When you add jewelry to your homeowners policy, you will typically get a check for the amount your jewelry is insured for. It will then be up to you to try to get something similar to what you had before.

With a Jewelers Mutual policy, one of our jewelry experts will connect you with your jeweler to find a same-kind-and-quality replacement. All the work behind-the-scenes is done for you by someone who specializes in the unique properties of fine jewelry. 

A jewelry claim filed against your homeowners policy could affect your entire policy. So, if your jewelry was ever stolen or lost, your premium could go up or your eligibility for your entire homeowners policy could be affected at renewal. A standalone jewelry insurance policy keeps your small, easily misplaced valuables separate from your home and the rest of your belongings.

See How We Compare Jewelers Mutual Group Typical Homeowners Typical Rider
Loss checkmark X symbol checkmark
Theft checkmark checkmark checkmark
Damage checkmark Not always covered Not always covered
Disappearance checkmark X symbol checkmark
Flood or Earthquake checkmark Not always covered Not always covered
Worldwide Travel checkmark checkmark checkmark
Out-of-Pocket Cost $0 deductible option Homeowners deductible applies May have a deductible
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Insurance Value Adjustment: Helping You Avoid Being Underinsured

After you insure a piece of jewelry, you may think you’re all set because its insured value has been established. But here’s the reality - the value of precious metals and stones fluctuates over time, even from one day to the next. Unlike other high-value assets, jewelry tends to age well and increases in value over time. As a result, if you don’t have a recent appraisal, you could be insured for less than your item’s replacement value and at risk of substantial financial loss if you ever need to file a claim. 

To help you avoid being underinsured, Jewelers Mutual offers a value-added service known as an "Insurance Value Adjustment" or "IVA" on your policy. An IVA is a yearly percentage increase in your coverage limit (and consequently, your premium) that attempts to provide adequate protection in an ever-changing marketplace. 

We will only apply an IVA at renewal, when the appraisal for your item is older than two years old.  An IVA will not be applied if you provide an updated appraisal every two years. You can also opt-out of this feature altogether.

While Jewelers Mutual does its best to estimate the amount of coverage you may need in the event of a loss, it still may not be enough. In fact, some states limit the amount of IVA we can apply in a year. That’s why we strongly recommend reaching out to your jeweler, even after an IVA is applied, to determine your item’s value.  

To add an updated appraisal to your policy, simply upload it to your account here, or email us a copy at [email protected]. Our Customer Care Team will take it from there. 

Jewelry Insurance Cost

You just bought brand new, sparkly jewelry. So, naturally, you're super excited to talk about insurance, right? Yeah, that's what we thought.  But, it's really important. And it's not as expensive as everyone thinks it is.

How Much Does Jewelry Insurance Cost?

Rates are based on several factors, including where you live. But for most people, jewelry insurance will cost 1-2% of the value of their jewelry. For example, a $5,000 engagement ring could cost as little as $50 per year to insure.

To put that in perspective, jewelry insurance can cost less than getting one coffee every month for a year. We think protecting your jewelry is worth it!

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for a $8,000 ring in Dallas (75043) with a $0 deductible

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for a $4,000 ring in Seattle (98107) with a $0 deductible

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for a $9,000 bracelet in Long Beach (90803) with a $0 deductible

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for a $5,000 pair of earrings in Jacksonville (32202) with a $0 deductible 

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for a $20,000 pair of rings in Phoenix (85003) with a $0 deductible

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for a $12,000 watch in Chicago (60614) with a $100 deductible

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for a $6,000 ring in Denver (80202) with a $0 deductible

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for a $32,000 pair of watches in New Rochelle (10804) with a $500 deductible

Jewelry Insurance Deductibles

A deductible is the amount of money you must pay out-of-pocket when you file a claim for jewelry damage, theft or loss. The lower your deductible, the higher your premium, which is the amount you pay each year to keep coverage going. You might then assume a policy with a $0 deductible would have a sky-high premium. Luckily, that’s not the case! 

See for yourself what your premium would be with a $0 deductible by checking your rate.

Choose Your Own Deductible

With many insurance companies, your deductible is either chosen for you, or you have two options, one high and one low. That doesn’t allow you much leeway to find a plan that works for your budget.

For jewelry insurance from Jewelers Mutual, you have flexible deductible options*.

Deductible Options

With Jewelers Mutual, your deductible options* start with $0, $100, $250 and $500.

Not sure which to pick? Check out our blog for advice on how to choose the right deductible for you.

Want to find out how much your deductible and premium would be? Find out in under a minute!

*Deductible options may vary based on previous loss history or underwriting review.

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Appraisals for Jewelry Insurance

A jewelry appraisal assigns value to your entire piece, taking into account the setting and any stones. 
An appraisal is used to set the coverage limit on your policy. If your jewelry’s value was over-inflated, you could spend more than necessary to insure your piece. Or, the reverse could mean you’re under-insured and may incur additional out-of-pocket expense to repair or replace jewelry that becomes damaged or lost. Insuring your jewelry for its current retail replacement value is vital to repair or replacement. 

Jewelers Mutual recommends that you get a jewelry appraisal every two years to safeguard you in the case of a claim.  

Need more help with your jewelry appraisal? Read more about what you need to know. 

Ring Appraisal for Insurance: What You Need to Know 

How Much Should a Jewelry Appraisal for Insurance Cost?

Filing an Insurance Claim

In good times, any insurance will feel like great insurance. In bad, will your insurance company step up to the plate? 
Our experts will guide you should you ever need to file a claim.

Insurance Claims Experience

At the end of the day, you have insurance so you can file a claim when you need to. While we certainly hope you don’t experience the damage or loss of your treasured jewelry, we are here to help if you do. Follow the below steps in the event of a claim.

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Start Your Claim

Let us know what happened.
Start your claim online, or call us at 888-884-2424.

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Choose a Jeweler

Choose a jeweler to repair or replace your item.
Once you get the okay from us, head to your jeweler. If you're not sure who to use, we can help find a jeweler near you.

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Pay Your Deductible

If your policy has a deductible, pay that amount to your jeweler.
The jeweler will bill us for the rest. (If you have a $0 deductible, and the cost of replacement isn't more than you insured yours for, you pay nothing. All you have to do is pick up your jewelry, good as new!)

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Insure Your Replacement Jewelry

If your jewelry was replaced entirely, we'll help you add that to your policy.
If your jewelry was simply repaired back to its original state, there's nothing more for you to do!

What's Needed During a Claim

When your jewelry is damaged, lost or stolen, all you want is to get it back, just the way it was. To help us get you there as fast as possible, prepare the following before you start your claim. If any additional documentation is needed, your claims representative will let you know.

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Proof of Ownership

Any documentation, like a receipt, appraisal or dated photo of the jewelry, that proves it's yours.

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Written Statement

A short statement explaining what happened, including a list of damage if your jewelry wasn't lost or stolen entirely.

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Police Report (in select cases)

A police report, depending on the jewelry and how it was lost or stolen. We'll let you know if it's needed.

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Claims Satisfaction

Jewelers Mutual has an excellent track record of servicing and paying claims quickly, with more than 95% of responding customers rating themselves as “highly satisfied” with their experience and the outcome.

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More About Our Claims Experience

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We work with your jeweler.

You know how many insurance companies have a network of providers for you to choose from? Jewelry insurance carriers may also have specific jewelry repair or replacement companies you are required to work with.

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Choose your jeweler.

We understand the important relationship you have with your jeweler. We don’t want to come between that, which is why we work directly with your jeweler of choice.

You’re also much more likely to get a same kind and quality replacement from the jeweler who sold you the original piece. After all, they know it best!

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Multiple estimates not required.

It is also common for many insurance companies to require multiple estimates before covering a repair or replacement cost. Jewelers Mutual does not require more than one estimate. Your choice of jeweler will be the one we work with, period.

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Why Jewelers Mutual?

Jewelers Mutual is the only insurer in North America solely dedicated to jewelry insurance for over 100 years. 

We don't insure cars or houses or fancy purebred dogs. We insure jewelry and only jewelry.

We are the jewelry insurance experts.

What Makes Us Different

We don’t just cut a check and run like most insurance companies. If you file a claim, you’ll walk away with a piece that’s the same kind and the same quality as the one you had.

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We’re obsessed with jewelry.

Our staff includes GIA Graduate Gemologists, AGS Certified Gemologists and experience in the jewelry industry. When we say we’re jewelry experts, we mean it.

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You choose your own jeweler.

When it’s time for repair or replacement, we work with your trusted jeweler. We don’t pick one for you (but we can help you find one). 

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We cover worldwide travel.

While coverage is only available to residents of the US and Canada, you can travel worldwide without worry. Because who doesn’t have a little wanderlust in them?

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Hassle free claims experience.

In the unfortunate event you suffer jewelry damage or loss, you can expect a fast, professional, compassionate repair or replacement experience.

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We probably cover more than your homeowners or renters insurance.

Most homeowners policies don’t cover loss, disappearance, damage, earthquakes, or floods. Get comprehensive coverage with a standalone policy that won’t leave you hanging.

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We're not nearly as expensive as you might think.

Jewelry insurance rates depend on several factors – including where you live – but in many cases, annual coverage could cost roughly 1-2% of your jewelry’s value

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A claim won’t make your homeowners or renters insurance rates go up.

If your jewelry is only covered under your homeowners or renters insurance, and you file a claim with them, your rate could go up for your entire homeowners or renters policy.

Jewelry Insurance by Jewelry Experts

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While it seems a lot of people claim to be experts these days, we can say with confidence we are the only insurer in North America solely dedicated to jewelry insurance for over 100 years.

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Not only do we have the experience, we have the education, too. We employ both GIA Graduate Gemologists and AGS Certified Gemologists, plus many staff members have experience in the jewelry industry.

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GIA Graduate Gemologist

The Graduate Gemologist program through the Gemological Institute of America teaches both technical expertise and practical skills to evaluate gemstones by the 4Cs, the International Diamond Grading System™, and the Colored Stone Grading System.

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AGS Certified Gemologist

A Certified Gemologist has taken advanced studies in diamonds and colored gemstones through the American Gem Society, and demonstrates mastery of diamond, gemstone, and precious metal testing procedures.

What Our Policyholders Say

How do you know if your jewelry is worth insuring?

Ask yourself these questions. If my jewelry disappeared today, would I be...

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Devastated about the sentimental loss?

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Afraid to wear my other uninsured jewelry?

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Unable to cover the cost to replace it?

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Subjected to coverage limits with my current insurance?

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Forced to work with a jewelry replacement company and not my preferred jeweler?

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Worried about having to settle for a replacement of lesser quality than the original?

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At risk of having my insurance rates go up?

Your jewelry is worth insuring.

If you're worried about losing your jewelry, coverage options with your current insurance or even theft, you’re an excellent fit for the Jewelers Mutual family. Check your rate in under a minute, even on mobile.