How the Big Names Compare to the Experts
Jewelry, like smartwatches, is covered under typical renters and homeowners insurance policies. But that coverage is usually subject to a limit of a couple grand, and even a rider or floater has its limitations.
|See How We Compare||Jewelers Mutual||Typical Homeowners|
|Damage||Not always covered|
|Flood or Earthquake||Not always covered|
|Out-of-Pocket Cost||$0 deductible option||Homeowners deductible applies|
All the most common dangers to smartwatches. Loss, theft, damage and mysterious disappearance are covered.
It's an all perils policy, so if it's not listed as NOT covered, it's covered.
What's not covered?
Virus or Programming Error
Loss or damage because of any viruses or programming errors or malfunctions is not covered.
Deterioration & Obsolescence
Damage from inherent defects or from typical wear and tear is not covered. You also cannot recoup any lost value due to advancements in technology.
Purposely damaging or losing your watch 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.
Data & Software
Any personalized data or customized software, like contact lists, messages, photos or apps, is not covered.
What Our Policyholders Say
How does smartwatch insurance work?
When you file a claim, we don’t just cut a check and run like a traditional cash pay-out policy.
First, you let us know what happened. Then you contact the retailer where you purchased your smartwatch to arrange for repairs or a replacement of same kind and quality. You pay the cost, send us the receipt, and we'll reimburse you up to the amount you insured your smartwatch for.
How much does it cost?
Rates depend on where you live. But for most people, smartwatch insurance costs 1-2% of the value of their watch. For example, a $10,000 luxury smartwatch costs about $100 per year to insure.
Who is Jewelers Mutual anyway?
Jewelers Mutual was founded in 1913 by jewelers, for jewelers. We started out insuring jewelry stores and businesses; then, in 1953, we added coverage for personal jewelry, like smartwatches and engagement rings. We insure jewelry and only jewelry. We are the jewelry insurance experts.
It all comes down to trust
We're here to make this choice as easy as possible for you, every step of the way. That's why we created a free guide to jewelry insurance to help you decide how to best protect your smartwatch.