Insuring Your Jewelry

What would happen if you lost that special piece of jewelry? Would it be insured so you could replace it? Now you can insure your fine jewelry with the same company chosen by over 8,000 jewelers to protect their own stores. Jewelers Mutual Insurance Company is the country's only jewelry insurance specialist. Founded in 1913, we're a nationwide jewelry insurer, licensed in all 50 states. As a mutual company, we're owned by our jeweler policyholders and people like you who buy our Personal Jewelry Insurance. We insure jewelry for more than 70,000 individuals nationwide. To learn more about protecting your fine jewelry, call us Toll Free at 888-884-2424, or click on the options below.

• How can I get Personal Jewelry Insurance?
• Personal Jewelry Insurance versus homeowners coverage
• What will it cost?
• Protecting Your Jewelry
• Care and Cleaning of Your Jewelry
• Frequently Asked Questions
  

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How can I get Personal Jewelry Insurance?

Insuring your personal jewelry with Jewelers Mutual is easy and fast. Personal Jewelry Insurance from Jewelers Mutual is available to customers of jewelers insured by Jewelers Mutual. As the largest insurer of jewelry stores in the nation, chances are that we insure either your jeweler or a jeweler in your area. If you haven't selected a jeweler just yet, we would be happy to provide names of participating jewelers in your area. When you purchase jewelry, ask your jeweler for Jewelers Mutual's Personal Jewelry Insurance application and rate card. If your jeweler does not participate in this program, call us for additional information. You also may insure jewelry you already own. Have your jeweler provide a complete description and valuation (an insurance appraisal) for the item. (Note: Most jewelers charge a fee to appraise an item they did not sell.) Complete the application, and mail it to us, along with the appraisal and your check for the annual premium. Coverage will begin on the postmark date stamped on the envelope. When you insure your jewelry through Jewelers Mutual, your jewelry is covered for loss, theft, damage, and mysterious disappearance. We will pay for repair or replacement with like kind and quality. This policy is not available for unset stones and irreplaceable items such as antiques, or jewelry owned by professional entertainers, athletes or persons living outside the United States. Because your jeweler is not a licensed agent, please direct all insurance questions to Jewelers Mutual. We're happy to help you.

To receive an application and rate card please call one of our Personal Jewelry Insurance customer service representatives toll free at 888-884-2424

Personal Jewelry Insurance versus homeowners coverage

After you've chosen a beautiful piece of jewelry, your next decision should be how to insure it against loss, damage, or theft. You can insure your jewelry through your homeowners or renters insurance or through a Personal Jewelry Insurance policy available to customers of jewelers insured by Jewelers Mutual. The following provides a comparison between these two coverage options.

Jewelry descriptions - The personal jewelry you insure with Jewelers Mutual is scheduled, which means a complete description and value of each item is listed on your policy. In the event of a loss, we rely on these precise details to replace or repair lost or damaged items with like kind and quality. The scheduled information will help ease the processing of a claim.

You're not required to schedule jewelry on a homeowners or renters insurance policy. If you don't schedule your jewelry, the policy limit for loss by theft may be as little as $1,000, and you're likely to pay a deductible if a loss occurs. In addition, the coverage is often restricted to a few specific causes of loss. We insure your jewelry up to its appraised value, and no deductible is applied unless you choose to have one.

Comprehensive protection - We provide loss, theft and damage protection. Some homeowners policies are limited in coverage. For example, theft may be covered, but losing a stone from a ring is not.

Inspections - We want you to have your jewelry for a long time. Many losses can be prevented by having a jeweler inspect your jewelry for loose stones, faulty clasps, worn prongs, etc. That's why we require annual inspections of your insured items. In addition to inspecting your jewelry, the jeweler will update the values to help you maintain adequate insurance.

Homeowners insurers may not require routine visits to your jeweler to have insured items inspected and values updated. Thus, your jewelry could be underinsured and if you lose one of the items, you may have to pay a portion of the cost to have it replaced.

Inspections help to reduce losses and keep premiums down.

Repair or replacement - With our Personal Jewelry Insurance, if an insured item needs to be repaired or replaced, you deal with your preferred jeweler--the one who appraised your jewelry and performs your regular inspections. Some homeowners insurance companies require you to obtain estimates from several jewelers. Other companies require that the item be replaced through their contracted repair and replacement suppliers, rather than your preferred jeweler. Jewelry claims may affect your homeowners or renters premium. In some states, insurers no longer offer jewelry floaters, so coverage may be very limited.

More than insurance In keeping with our motto, "More than insurance", we offer you advice about preventing losses and caring for your valuables. As reflected in our A+ financial rating by A.M. Best, we have the financial ability to pay claims. Jewelers Mutual is the largest insurer of jewelers in the nations. It would be our privilege to insure your jewelry, too.

What will it cost?

Annual Premium Rates The annual premium for your Personal Jewelry Insurance policy is determined by the retail value of each item of jewelry you insure. The rates vary according to the value of each item and according to your state or county of residence. Rates start as low as $10 per $1,000 of value, with no deductible.

For example, if the jewelry item you wish to insure is valued at $5,000 and the rate for the state in which you reside is $10.00 per $1,000, the premium you would pay would be $50.

Deductible - You may choose coverage with no deductible or with a deductible that provides
premium credits

Protecting Your Jewelry How safe is your jewelry?

Where do you keep it when you're not wearing it? Is it really safe in your home?

The majority of thefts occur when workers, guests or friends are in your home, and your jewelry is visible or accessible for them to steal. In addition, burglars are known to case neighborhoods looking for opportunities to steal. They look for uncut lawns, newspapers on the doorstep, no cars in the driveway--signs that indicate you aren't home or you've been away for awhile. Some thieves even have the nerve to knock on your door to see if anybody's home.

Security for your jewelry and other valuables in your home is a matter of attitude; realize that all neighborhoods are vulnerable to burglaries. Your home could be a target if a thief feels you have valuables worth stealing and there's easy access to your valuables.

You can protect your jewelry and other precious possessions by taking these steps.

• Install good locks on your doors and windows. Most burglaries would be eliminated if people had properly locked doors and windows.
• Make your house look lived in--keep the lawn groomed and pick up your mail and newspapers daily.
• Secure your jewelry in a safe or a hiding place in your home, preferably a place that is permanently mounted on a wall or bolted to the floor. Keep jewelry out of sight. Jewelry boxes and dresser drawers, as well as almost any other spot in bedrooms, are probably the first places a thief will look for your valuables. Consider storing infrequently worn jewelry in a bank safe deposit box.
• Remove your jewelry and place it in a safe location before gardening, playing sports, or performing difficult chores around your home. Do not place jewelry in pockets or leave on an open surface such as a sink, counter or public area where it could be forgotten, bumped, lost or stolen.
• When traveling, store unworn jewelry in the hotel's safe deposit box. Never leave jewelry in your luggage to be transported by airlines, cruise lines, or other public transportation.
• If you bump or catch your jewelry, inspect it immediately for missing stones or damaged prongs. Take extra care when removing gloves. If you suspect damage, place the jewelry in a safe place until you can take it to a jeweler for inspection and repair.
• Establish family procedures for locking doors and windows. When practical, keep your doors locked at all times. If you have children who need quick entry, consider having them use a back door or a door that is routinely monitored and keep other doors locked. Always lock your home when you leave.

Surprisingly, most burglaries occur during the day, not at night. Burglaries also are more frequent when doors and windows are unlocked, whether or not people are at home. Think about this: How easy would it be for a burglar to slip into your home unnoticed and steal your valuables if you were occupied in another part of the house, outside in the garden, or mowing the lawn? It could only take a minute!

Finally, insure your jewelry to assure that you can replace it if it is lost, stolen, or damaged.

Care and cleaning of your jewelry

In addition to maintaining your jewelry's natural shine, you can keep it wearing well by following these suggestions:

• Have a jeweler clean and inspect your jewelry at least annually, looking for loose settings, faulty links, worn prongs, etc. Ask your jeweler how to clean items properly at home.
• Clean your jewelry frequently to avoid the build up of dirt, which may hasten wear.
• A prong that is loose, worn or catches on fabric may cause the stone to fall out of the setting. Have the item checked by a jeweler immediately if you suspect a problem.
• When not wearing your jewelry, place each item in a separate soft compartment or container. If cluttered together, jewelry can become scratched--even diamonds.
• Avoid heavy blows to your diamond. Even though it's among the hardest of all materials, diamonds can chip if struck at the right angle.
• Insure your jewelry to assure that you can replace it if it is lost, stolen or damaged.

Besides having your jewelry professionally cleaned by a jeweler, here are a few suggestions to care for your diamonds and other common gemstones at home.

* Fracture-filled stones have been injected with a transparent material to fill internal flaws (fractures or feathers) to improve appearance. These stones also may be called "clarity enhanced." Ask your jeweler for specific cleaning instructions for these stones.

Frequently Asked Questions

How are insurance rates determined? Insurance rates are based on our historical losses for the state or county in which the person possessing the jewelry resides. For example, if a mother purchased a necklace for her daughter, the rate would be based on the daughter's state and county of residence.

How do I renew my policy? Before your policy's expiration date, we will send a renewal offer to you. The renewal offer will instruct you to take your insured jewelry to a participating jeweler to have it inspected and values updated, if necessary. You send us the completed renewal offer, with your jeweler's signature, along with a check for the premium.

How do I insure additional items? To insure additional jewelry, simply send a copy of the appraisal that includes the value of the item and a complete description, along with your insurance premium. We'll add the item to your policy. If you have questions about the premium, call us. We're happy to help you.

How do I inform you of an address change? If your address changes, please send us the change via mail, e-mail, or a phone call. Please include your name, policy number, and the address currently listed in your policy to assure that we have updated the correct policy.

How do I report a claim? If your insured jewelry is damaged, lost, or stolen, call Jewelers Mutual at 800-558-6411 and ask to speak with a Personal Jewelry Insurance claim representative who will give you complete instructions. In addition, if your jewelry was stolen or you suspect it was stolen, you should report it to the police. In most instances, you will return to the jeweler who sold the item or provided the appraisal to have the jewelry repaired or replaced. If you have any other questions, please contact our Personal Jewelry Insurance staff at 888-884-2424 (toll free).