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Jewelry Insurance Policy FAQs

Buying Jewelry? You may want to consider an insurance policy for your purchase. Here are some answers to frequently asked questions:

Why jewelry insurance and not my homeowners or renters policy? 
If you think your jewelry is covered by an existing policy, read it thoroughly and evaluate whether or not you’re comfortable with the coverage. Standard homeowners policies often provide limited jewelry protection, sometimes excluding jewelry damage and loss. Many homeowners' and renters' policies may also require customers to use predetermined jewelry repair or replacement companies or to obtain several estimates before proceeding with a claim.

Suffering the loss or damage of a diamond ring or other piece of valuable jewelry is hard enough. But working with a company like Jewelers Mutual Insurance Company—the only insurer specializing exclusively in jewelry insurance, to safeguard your personal jewelry, gives you the flexibility to work with your own trusted jeweler for repair or replacement work.

What if I have loose stones?
Make sure your insurance policy covers loose stones while they are being set by your jeweler. This is important if you purchase stones on the internet or elsewhere and then work with your jeweler for mounting and setting of the stone. This coverage is not found with all carriers.

If I lose my Tiffany ring, will I be able to get the same name-brand replacement?

It is not guaranteed. Review your policy to see if your jewelry will be replaced with “same kind and quality,” which is especially important when you have name-brand jewelry. You want to make sure your jewelry can be repaired or replaced and be virtually indistinguishable from the original, and not have to sacrifice quality.

What is mysterious disappearance?
It’s a coverage not offered by all insurance companies, but is one of the most common ways jewelry goes missing. Jewelers Mutual‘s personal jewelry insurance is a repair or replacement policy that covers jewelry loss when you can’t pinpoint where or when the item went missing.

Why is a recent appraisal important?
The value of jewelry can rise and fall over time. A current appraisal helps make sure you’re covered for the most accurate amount.