Jewelers Mutual Insurance for Diamond Rings and Engagement Rings

The Jewelers Mutual Group was established in 1913 by Wisconsin jewelers. The company offers services and products across the United States and Canada to help jewelry businesses run smoothly and protect personal jewelry. Since then, it has earned the highest possible rating from A.M. Best, including “A+ Superior” for 33 consecutive years.

The company offers free insurance quotes and guarantees that the jewelry is indistinguishable from its original value. The insurance policy covers damage and loss of the ring, so there is no need to worry if your ring was lost or stolen while traveling. Jewelers Mutual will even pay for your ring’s appraisal if it is damaged during transit. It is recommended that you get an appraisal done as soon as possible before purchasing insurance for it.

As a partner of the Jewelers of America, Jewelers Mutual has over 2,000 independent retail jewelers nationwide. It is licensed in all 50 states and the District of Columbia and is a trusted brand in the industry. A group of Wisconsin jewelers started Jewelers Mutual in 1913 to address the insurance needs of jewelry store owners. It claims to be the only insurance company dedicated to the jewelry industry for 100 years. As a result, it offers the best insurance coverage for individual policyholders and unique jewelry pieces.

What is Covered by Jewelry Insurance?

They offer insurance for all kinds of jewelry, including engagement rings. Yes, we also cover watches, jewelry, and loose stones that are being set.

Our comprehensive repair or replacement coverage will safeguard any jewelry you insure. This implies that in the event of a claim, we intervene and handle matters directly with your preferred jeweler when you purchase specialized jewelry insurance.

To ensure that your piece is either fixed to your satisfaction or replaced with a piece that is the same sort and quality as the original, our claim specialists collaborate with your jeweler.

What is Not Included?

What does jewelry insurance not cover, then? Unusual events like war and rats cause the most losses.

The exclusion list is as follows:

1. Civil authority, such as when law authorities seize jewelry during a search.

2. The Decreasing quality or an innate vice, such as a manufacturing flaw

3. Intentional behaviors, such as destroying or losing your jewels on purpose

4. Nuclear risk, such as a fire brought on by a nuclear reaction

5. Rodents, pests, or insects, such as a moth infestation that damages family antiques stored in the attic

6. Voluntary separation, such as when you sell covered jewelry and the payment fails.

7. Conflict and military action, in general, any conflict-like action

8. Wear and tear, similar to normal, slow degradation

It’s also important to note that your jewelry insurance policy does not provide coverage for routine maintenance. Services like ring size, cleanings, examinations, and appraisals are not included. (However, ask your jeweler first because some can be free!)

It’s true that almost every typical cause of loss is covered, despite appearances to the contrary. Jewelry, especially engagement rings, is lost so frequently because it is lost. If your jewelry insurance coverage didn’t cover lost or stolen valuables, what good would it be?

Of course, after you receive your real policy documentation, there is more fine print you’ll want to review, such as information regarding your responsibilities in the event of a loss and how Jewelers Mutual determines how much to reimburse your jeweler.

Are you curious to know how much yearly jewelry insurance may cost you? Less than you may anticipate. To get a quote in less than a minute, click the button below. No private information is necessary.

How Much does Insurance for Jewelry Cost?

It normally costs between one and two percent of the item’s value annually to insure jewelry via Jewelers Mutual.

The price depends on several variables, including where you live. Take a look at these varied places and sample premiums, for instance.


for a $5,000 ring in Dallas (75043) with a $100 deductible


for a $2,500 chain in Las Vegas (88901) with a $0 deductible


for a $3,000 bracelet in Chicago (60614) with a $0 deductible


for a $7,000 watch in Oakland (94577) with a $100 deductible


for a $5,000 ring in New York (10016) with a $100 deductible


for a $5,000 ring in Toledo (43460) with a $0 deductible


for a $2,500 watch in Orlando (32829) with a $0 deductible


for an $8,000 ring in Seattle (98107) with a $0 deductible

Cost of Engagement Ring Insurance: A Detailed Response

Calculating Simple Rates

The computation of Jewelers Mutual Group’s insurance rates is straightforward. Our insurance costs range from 1% to 2% of the jewelry item’s retail replacement value.

Based on our prior losses for the residence location of the jewelry wearer, we can determine whether it is 1%, 2%, or somewhere in between.

Optional Deductions

Your choice of deductible will also have an impact on your premium. (Remember that a deductible is an amount you are responsible for paying out-of-pocket when you submit a claim.)

Your overall annual premium will be lower the bigger your deductible. Do you require assistance selecting the correct deductible for you? We have a blog just for it. We also have a $0 deductible option, which is wonderful news since not many insurers do.

Minimum Standards

We are frequently questioned, “At what value should I begin insuring jewellery?”

The minimum yearly policy premium, which varies by state and is either $25 or $30, should be considered. (In Canada, $65)

The minimum premium for the resident state of the jewelry wearer will apply to your premium if the rate calculation for the total policy premium is less than the minimum.

Should your Engagement Ring be Insured?

In all honesty, I believe the answer is true. Since it makes financial sense, you should typically insure your engagement ring and other sentimental valuables.

An engagement ring’s annual insurance premium is normally between one and two percent of its value. According to some simple math, it would take you between 50 and 100 years of premium payments to pay more for insurance than it would have cost you to replace your ring.

How does Jewelry Reimbursement Insurance Operate?

First, let’s describe the conventional insurance paradigm. Most homeowner’s insurance policies have a jewelry coverage structure similar to this.

The basic principles of jewelry insurance are straightforward:

1. Invest in protection

2. Submit a claim

3. Resolve the dispute

4. Receive your pay.

Of course, a few more specifics are involved, but the main concern is the amount for which the check will be written.

Replacement cost as compared to the actual cash value

  • Actual cash value (ACV) and replacement cost are the two main methods that insurance companies might use to determine the worth of your settlement.
  • Actual Cash Value, according to the Insurance Information Institute, “pays compensation in the amount of the damaged item’s replacement value less depreciation.
  • A replacement cost insurance, on the other hand, “pays the dollar amount required to replace damaged personal property without accounting for depreciation, subject to the maximum dollar amount specified on the declarations page of the policy.”

Since most goods depreciate, generally speaking, if your insurance is based on replacement cost, you’ll get a bigger settlement when you file a claim.

Jewelry is a special instance. It might not lose value the same way a house or car does. The fair market value of jewelry, the standard used to evaluate claims compensation in some circumstances, can be impacted by ordinary wear and tear.

The basic line is that replacement cost coverage eliminates any uncertainty. You will receive the sum necessary to replace the insured item at the time of insurance. ACV has a lot more murky areas and can need you to pay more out-of-pocket following a claim.

In any instance, you’re left to cope with the strain of finding an equal substitute for your original piece, which may or may not be easy depending on how well your supplier understands the complexities of jewelry and the emotional toll of losing a meaningful sign.

How does Jewelry Insurance for Repair or Replacement Work?

You don’t have to worry about how the insurance provider determines your compensation when you have repair or replacement coverage. Your jewelry will be returned to you, hopefully, indistinguishable from the original, as long as it isn’t underinsured. (If you purchase insurance from us, it will unquestionably be of the same kind and calibre.)

Process Variables for Replacing Jewelry

Most homeowner’s insurance policies, including jewelry repair or replacement, stipulate that you must resolve your claim with a specific repair service or designated jeweler. For them to be able to produce a comparable piece, you might need to give them any appraisals, receipts, or descriptions you have of the original item.

When you have specialized jewelry insurance, such as Jewelers Mutual Group, your insurance company intervenes on your behalf and communicates with your preferred jeweler. You don’t need to worry about describing every aspect of your original piece to the jeweler to assist them to make a perfect replica. Jewelers Mutual hires jewelry specialists who can perform that task for you using the most recent evaluation you’ve submitted.

The most crucial thing you can do whenever you insure something valuable is to comprehend your coverage fully.

It’s critical that you choose which option is the best fit for you because every available choice is ideal for someone.

Are you curious about what Jewelers Mutual’s jewelry insurance can run you annually? It probably isn’t as much as you think. Click the button below to get a quote in less than a minute. No private information is necessary.

Comparing a Homeowner’s Policy and Jewellery Insurance

You normally receive a cheque for the amount your jewelry is insured for when you add jewelry to your homeowner’s policy. After that, it will be up to you to attempt and obtain something like what you previously possessed.

With Jewelers Mutual coverage, one of our jewelry specialists will put you in touch with your jeweler to locate an identical item of comparable quality. An expert in the specific qualities of exquisite jewelry does all the behind-the-scenes work for you.

A jewelry claim made against your homeowner’s insurance may impact your entire policy. Therefore, if your jewelry is lost or stolen, your home insurance eligibility and your premium may be affected. Your little, easily lost treasures are kept apart from your home and the rest of your stuff with a standalone jewelry insurance policy.

Insurance for Jewelry Appraisals

An appraisal places a value on the piece of jewelry, accounting for the setting and any stones.

An appraisal determines the coverage limit for your insurance policy. If the value of your jewelry is overstated, you might have to pay more for insurance. If the opposite is true, you may be underinsured and face higher out-of-pocket costs for replacing or repairing lost or damaged jewelry. For repair or replacement, it is essential to insure your jewelry for its current retail replacement value.

To protect you in the event of a claim, Jewelers Mutual suggests that you obtain a jewelry assessment every two years.


Even while some insurance policies solely cover jewelry theft, they nevertheless cover everyday occurrences. They cover inexplicable disappearance, a coverage that is frequently disregarded by other carriers because they are aware that you can’t always determine how or where your jewelry vanished. Even cherished and worn jewelry loses its luster over time. Therefore, if your jewelry is damaged, that is also covered. We hope this guide will help you to find your answers.