Insuring Your Jewellery
When making a large purchase, such as an engagement or wedding ring, it’s wise to take extra steps and make sure your purchase is covered well into the future against loss, theft or damage.
Things happen. Theft occurs, accidents can cause a ring to become damaged or the stone is lost, you can take your ring off for a moment and inadvertently leave it behind. For all of these reasons, jewellery insurance is there to protect you.
At Janina’s Diamonds and Time, we point people to Jewelers Mutual for information on jewellery insurance. You can purchase coverage for not only engagement or wedding rings, but also other jewellery, such as watches, earrings or necklaces, or even loose stones that are being set. You can also cover your jewellery worldwide, meaning if you lost or damaged your ring on an overseas trip, it would be covered.
Through jewelersmutual.com, you can enter in your postal code, the type of jewellery you’d like to insure, and its value. From there, the website will give you options – a minimum deductible, should you choose one to lower your annual premium, as well as the annual cost to cover your jewellery.
Once you have your jewellery insured, any loss, theft, damage or disappearance is covered. Simply visit your jeweler to arrange for repairs or replacement and the jeweler will bill your insurance for the cost.
But Jewelers Mutual isn’t the only place you can get coverage for your jewellery. It’s worthwhile to also check into your homeowners’ insurance plan, to see what kind of coverage they offer. It’s important to check if the rider to your homeowners’ insurance will cover disappearance, meaning you’re not sure if you lost your ring or if it’s sitting in the heating vent where your kid dropped it and didn’t bother to tell you. This is one of the most common causes of jewellery loss, and a rider to your homeowners’ insurance may not cover that.
When you apply for coverage, you will need the proper documentation to show the value of your jewellery. This often requires an appraisal, or even a detailed receipt could be acceptable.
For more information, visit jewelersmutual.com or visit us in store and our knowledgeable staff can point you in the right direction.
It’s hard to think about such a sentimental piece of jewellery, such as your engagement ring or your wedding ring, going missing. Unfortunately, loss and disappearance are two of the most common reasons people need to file an insurance claim for their jewellery.
At Janina’s Diamonds and Time, we point people to Jewelers Mutual for information on jewellery insurance. You can purchase coverage for not only engagement or wedding rings, but also other jewellery, such as watches, earrings or necklaces, or even loose stones that are being set. You can also cover your jewellery worldwide, meaning if you lost your ring far from home, it would be covered.
“Loss” is easy enough to define – you took your ring off in a public bathroom to wash your hands, and you accidently left it behind. “Disappearance,” on the other hand, is not so easy. Perhaps you did lose your ring, maybe it slipped off and is sitting comfortably behind your couch, or maybe your child flushed it down the toilet and doesn’t want to tell you. Through Jewelers Mutual, you don’t need to explain how, when or where you lost your jewellery for it to be covered.
A loss or disappearance claim is one of the main differences between a jewellery insurance company and adding a rider to your current homeowners’ insurance policy. Often, your homeowners’ insurance will not cover loss or disappearance. Since these are two very common ways people find themselves without their jewellery, it’s important to make sure this is covered in whatever policy you end up purchasing.
Through jewelersmutual.com, you can input your postal code, the type of jewellery you wish to cover and its value, and the website will give you an estimate for what it would cost, on an annual basis, to insure your jewellery. There are also deductible options, which can lower your annual payment.
Once your jewellery is insured, you won’t have to worry about what to do with your jewellery during that girls’ spa weekend or that week-long trip to Greece – your jewellery will be covered wherever you go, and whatever you do.