3 Reasons Why Jewelry Insurance Is Awesome


Because diamonds aren’t always forever

by Keriann Kohler, Advertising Manager

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There are plenty of things the wedding industry tries to convince you are “must haves” that… aren’t. But over the course of life—which, despite how it feels now, will go on far past your wedding—shit happens. For example, I just wrote about damaging my diamond wedding band beyond repair, and you may have heard the truly awful story of Meg’s engagement ring being stolen out of her house. Maddie is still in possession of her engagement and wedding rings, but only barely. She takes them off so often and leaves them such random places that it concerns Meg’s preschooler. (The APW team is apparently not to be trusted with wedding jewelry.) Long story short? Getting your jewelry insured is something that may take a bit of extra time and effort now, but can save you tons of hassle, emotional anguish, and yes, money, in the future. So today we’ve partnered up with Jewelers Mutual Insurance Company to tell you why jewelry insurance isn’t a must have, but instead one of those OMG I’m so goddamn glad I do haves. Here’s why:

It’s Cheaper Than You’d Think (And Easier too)

Getting a policy through Jewelers Mutual® is so fast that by the time you add it to your to do list, you could be done already. Just head over to www.jewelersmutual.com, input the purchase price for your jewelry and your zip code, and boom, the Internet magic spits out a quote. (And until you decide you want to apply for a policy or save your quote for later, you don’t even have to enter your email address.) If you’re ready to apply for a policy, all it takes are a few more easy questions and you get a policy effective immediately. You’ll need an itemized receipt or an appraisal to confirm the value of your jewelry. Jewelers Mutual will tell you exactly what you need after they receive your application, and you’re still covered in the meantime. If I had been proactive enough to get my $600 wedding band insured, my personal policy would have cost a whopping $30 a year, with no deductible.

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It covers a hell of a lot

The short answer to what jewelry insurance covers is… a lot. The long answer is that Jewelers Mutual offers the most comprehensive coverage you can get. Here’s what they have to offer:

  • Loss: You left your ring somewhere—on a beach towel or in a public bathroom. (It happens. Quite a lot if you’re Maddie.) Bottom line, it’s out there somewhere and you can’t find it. It’s covered.
  • Theft: We all know that horrific feeling of when something important to you gets stolen. Meg assures us that feeling keeps you up at night when it involves your engagement ring. But luckily you won’t ever have to experience the feeling of finding out that your stolen piece isn’t covered, because Jewelers Mutual has your back there too.
  • Damage: You hit your diamond ring on the edge of a table and it cracks (hello yes, that’d be me!), or you’re pulling on a sweater and a prong is bent. Accidents happen. They’ll cover that.
  • Mysterious Disappearance: Sometimes jewelry just disappears—it could be lost, stolen or hanging out in a drainpipe somewhere. You may not be able to explain how it got into that drainpipe (Maddie), but that’s okay, because it’s covered.

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PLUS you get:

  • Travel coverage worldwide, no matter where you go with your jewelry.
  • An optional $0 deductible.
  • A guarantee that if you need your jewelry repaired or replaced, Jewelers Mutual will do everything in their power to repair or replace your jewelry with something that is indistinguishable from the original (particularly useful if you have a unique ring or a stone that’s hard to replicate):

The lost diamond was a very unique cut and it was difficult for our jeweler to find a replacement. Jewelers Mutual insisted that the replacement be the exact same cut and had a stone specifically cut for us. —Jay

  • Work with your own jeweler: Unlike many homeowner’s and renter’s policies, Jewelers Mutual doesn’t require multiple estimates and they’ll never force you to work with a designated jeweler.

No surprise coverage limits

Speaking of homeowner’s and renter’s policies, you may be thinking, “Isn’t my ring already covered? Can’t I just add it there?” And yup, that might end up being the best bet for you. Just do yourself a favor and don’t skip confirming that your current policy is enough to cover your ring. (Pro tip: the maximum jewelry coverage on most standard renter’s or homeowner’s insurance policies is usually $1,000 to $1,500.) You may also want to consider whether your renter’s or homeowner’s provider is easy to work with, and whether a jewelry claim would incur your deductible or cause an increase in your rates. The benefits of working with a specialized insurance company like Jewelers Mutual is that they don’t make you jump through hoops if something happens. And unlike standard coverage, specialized insurance companies only ever deal in the kind of product you’re covering, so they usually have special caveats in their policies for circumstances like when the loss or damage is your fault, or the piece is difficult to replace.

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So while it’s easy to skip getting your ring insured in the flurry of getting engaged, when twelve hours in, your parents are already asking you to set a date, and suddenly finding a venue is akin to a family emergency, with Jewelers Mutual you can get it done in about as much time as it takes to make a pot of coffee. Which is way, way less time than it takes to find a venue. And if you’re not engaged yet but it’s in the works, maybe just forward this post on to the ring buyer, and he or she can get that bad boy insured before it even hits your finger. Because while it’d be awesome to never have to use jewelry insurance, marriage is long and diamonds are not always forever.

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This post was sponsored by Jewelers Mutual. For over 100 years, Jewelers Mutual has specialized in protecting jewelry and only jewelry. Jewelers Mutual believes that your insurance should be built around the way you live your life, with comprehensive coverage, worldwide protection that allows you to travel and stay covered, flexibility to work with your own jeweler, personal assistance when you need it, and a fast, professional, compassionate claim experience. Click here to get an instant, no-obligation quote for jewelry insurance from Jewelers Mutual.

Keriann Kohler

After spending her formative years in a monastic pursuit to become a professional ballet dancer, Keriann has since embarked on a mission to make up for lost time by doing All The Things. A reader since way back, the APW community has taught her wanderlusting, commitment-phobic self that while exploration is good for life experience, marriage isn’t so bad for a relationship, and she’s been happily married since 2011.

[Read comment policy before commenting]

  • Amy March

    I just add my jewelry to my renter’s insurance policy as I acquire it, which sounds way more glamorous than my occasional nice things gifted from parents jewelry wardrobe warrants. Easy peasy.

    • Lisa

      This is what we have. I don’t have much fine jewelry (my wedding set and a pair of diamond studs), but they’re both on our renter’s policy as riders. My husband’s ring was inexpensive enough that we could afford to replace it out of pocket if necessary so we don’t have anything on his.

      • PAJane aka Awesome Tits

        Not directed at either you specifically, but a note of caution for people looking at this option: Jewelry covered by a renters/homeowners policy is often not covered if it’s lost or broken, where a separate personal articles policy generally will cover those types of loss. Also, the renters/HO deductible often applies, which is likely to be higher than that of a separate jewelry policy (which is sometimes $0), and a claim against your HO can affect your rates or make it harder to start a new policy later. Worth asking your agent about./I’m licensed in property and casualty insurance in Pennsylvania. Things vary from state to state and company to company. YMMV.

        • Eenie

          This is what I need to look into. I am mostly concerned about accidental loss, and I don’t think adding it to our home insurance plan covers that. I need to call and ask!

  • CMT

    I’m *very* risk averse (you should see how concave my utility function is), so I love insurance. Insure everything, I say!

    • idkmybffjill

      SAMEEEEE I have such a bizarre amount of life insurance. Part of it was to lock in my rates at a young age so I could change term life insurance to Cash Value as an alternative retirement investment, but partly because well… if I was to die an untimely death at least my partner would be extremely well taken care of.

    • Abby

      Hahaha I can hear myself saying exactly what you wrote to all of my recently engaged friends. Thanks for the laugh.

  • Lisa

    Great timing. We actually just did this last night with Jeweler’s Insurance and it took about 5 minutes (4 minutes of which was fetching the receipts or appraisals for our jewelry). Yes, $5 a month is worth it. Worth noting: when we signed up the website informed us that the older an appraisal is, the less likely you would get the full value if something should happen. So we’re now planning to get our most valuable pieces reappraised every 5 years.

    • Laura C

      This is the sticking point for me. 95% of my jewelry that’s worth anything is gifts, so I don’t have receipts, and I am just not organized or motivated enough to get it appraised.

      • MrsRalphWaldo

        This is actually why I never got my engagement ring insured, but my wedding band is. The engagement ring was bought out of the country and was (obviously) a gift, so I don’t have a receipt and would have to send it out to an independent appraiser and pay a fee to have it appraised. We purchased by wedding band together and the jeweler offered a free appraisal, so it was much more convenient.

        • Laura C

          Yeah, most of my jewelry comes from India so even where one thing accidentally came with a receipt I’m not sure how useful that would be.

          • Lisa

            Appraisals do cost money (anywhere from $35 – $150), but it might be worth it on some of your pieces if you think they’re valuable enough. Most jewelry stores offer appraisals and it doesn’t take long, so it isn’t a huge project.

  • PAJane aka Awesome Tits

    Timely! I’ve actually been procrastinating starting a Personal Articles Policy for my rings because the company I quoted with (where I also insure my house and car) insures “jewelry, furs,
    silverware, fine arts, cameras, firearms, computers, musical instruments and
    china & crystal” at $1.20 per $100…with at $50 minimum deductible. Lemme tell ya, my two rings together do not cost $4,166. When we buy a ring for PADude, we will not have $4,166 worth of rings. This is the only valuable jewelry I own. My computer and cameras are all getting pretty old. I have nothing else to add to this policy, and it bugs the crap out of me to pay for more than twice the coverage I actually need.

  • Alexandra

    Basic rule of thumb for insurance: you don’t insure what you can afford to replace. Insurance is for things that bankrupt you (life insurance, disability insurance, liability insurance, health insurance), not inconveniences. A rider on your renter’s/homeowner’s insurance is fine for jewelry if you would be devastated to lose it (my engagement ring was $1500 and we don’t bother insuring it in any way because losing it would be an emotional loss, not a financial loss). This product is unnecessary.

    • emilyg25

      For me, this falls under what my emergency savings account is designed to cover. If something happened to my ring, I’d mostly be sad about losing the emotional value. But I also don’t have a really splashy ring. Some are upwards of $10k!

    • Christy

      Oh, I disagree! I think insurance is also for peace of mind. I could afford my eye doctor appointments and glasses out of pocket, but it’s worth it for me to have the insurance just in case. Dental insurance too.

      I personally have an inexpensive antique ring that I don’t choose to insure, but if it were more expensive? I would certainly insure it even if I could replace it out of pocket. (I’ve lost two different class rings.)

    • savannnah

      My partner and I would never choose to buy an expensive ring but I inherited my grandmothers. Before we left for Paris to get engaged my partner and my father got the ring appraised and then insured through jewelers mutual before my father handed over the ring. I was very greatful as the appraisal came back at $22,000. For $200 per year I sleep very soundly with my ring on my hand and I never take it off. The insurance is way worth it for us on an emotional and financial level.

    • MrsRalphWaldo

      I disagree, only because there’s no deductible on a typical jewelry policy. Even adding my wedding band to my renters policy incurs no deductible. For a minuscule fee (about $12 a year or nearly 100 years of payments to equate to the value of my ring) we’re able to cover its full replacement.

    • Laura C

      Don’t insure what you can’t afford to replace is my general rule as well, but jewelry is starting to fall into a gray area for me on that one. Any given piece of jewelry, I can afford to replace. (And did when I lost my wedding ring on my damn honeymoon.) But — and it feels super weird to say this, because I am NOT from a jewelry-owning background — I am starting to have enough that I’m not sure I could replace it all at once. Well, ok, I could, but it would be a very serious conversation about our savings. So while I can repair or replace anything that gets lost or damaged while I’m wearing it, if we were burgled and all my jewelry was stolen, I’d have a problem.

      • Maddie Eisenhart

        I also think there’s some emotional stuff at play here. Like, to a certain extent, I can afford to replace my engagement ring. But if I were to lose it, I’d have a really hard time justifying that cost against our regular expenses. AKA I might not replace it for years. Whereas, with insurance, I’d get it taken care of ASAP.

        • idkmybffjill

          “But if I were to lose it, I’d have a really hard time justifying that cost against our regular expenses. AKA I might not replace it for years.”

          This is the biggest reason for me. I know I just wouldn’t replace it if we didn’t have insurance. I’d be sad but just let it go. With insurance I don’t have to worry about that, and I would literally have to pay for 100 years in order to exceed the cost of the ring, so it seems like a fair trade to me.

          • Maddie Eisenhart

            “I would literally have to pay for 100 years in order to exceed the cost of the ring, so it seems like a fair trade to me.”

            That’s my justification too. Like…maybe at one point will I have paid too much for something I never lost? Possibly. But it’s a long ass time, and I’ll mostly be lucky to have gone that long without anything bad happening to my ring!

          • idkmybffjill

            Right. And I mean… look my ring was expensive so my insurance is 80 bucks a year. But luckily, I barely notice that amount. And if I never lose it? Fine. But if I did, I would be so devastated, and it would mean everything to just be able to replace it ASAP instead of having to weighe the costs of replacing it.

          • CMT

            Plus, you’re not really paying too much. You’re paying to cover the replacement value *and* for the piece of mind. So even if you reached that point where the amount you paid in insurance was more than the value of the jewelry, you’ve probably still gotten your money’s worth.

          • ElisabethJoanne

            100 years literally? [honest question] because the example in the OP is 20 years. $30 annually to insure a $600 ring. I think premiums are actually between 1-5% of insured value.

          • idkmybffjill

            For me, yes. I have a policy through state farm. It’s 80 bucks annually to insure an $8000 ring against all the possibilities listed in the article! So yeah, 100 years.

          • MrsRalphWaldo

            I just got a quote for my $1,000 ring and it was $11 annually. The current cost on my renters policy for the itemized personal policy is about $12 a year

    • Amy March

      I couldn’t afford to replace my collection of jewelry if it were all stolen at once. I’d much rather pay a little bit now to know that I’m not going to wake up one day a person who owns a modest collection of nice jewelry and then next day be a person who owns none and can only afford to replace a small fraction of it.

      • idkmybffjill

        Yes I agree. I also probably *wouldn’t* replace it, knowing the cost. I’d be sad and just get a plain cheap wedding ring instead of the set my husband lovingly saved and bought for me. Insurance takes care of that.

        • MrsRalphWaldo

          Same. I have a hard time spending money on things for myself that I don’t *need*, but with insurance I can replace my jewelry guilt free.

        • Jane

          Same. Except I haven’t actually insured mine yet. Should really get on that.

        • Kyle Hutchinson

          So, do you think you would replace it if you did have insurance? I think if I had a $10,000 engagement ring, it got lost, and I got $10,000 insurance money for it there’s no way I would spend $10,000 whole dollars on a ring! I would definitely feel the guilt of spending the money on jewelry once I had it in my bank account.

          My ring is not insured (and not worth anywhere near $10,000), but then again I don’t even have comprehensive/collision insurance on my car (liability only – it’s only worth around $3500 and we don’t need it for commuting so can take our time replacing it if anything happens), so I am obviously not a big insurance-user.

          • idkmybffjill

            That’s a good question. My ring is also technically worth more than we actually paid for it (friend in the diamond business). I feel like, realistically – if we had the lump sum and the emotional value was already lost, I would probably get a very nice wedding band and save the rest. Part of that also has to do with values changing after marriage, etc.

            But I think that’s the beauty of insurance too…. I’d have options. If I wanted to get a carbon copy of my ring? I could. If I wanted use the money for something for our family that would be valuable/would help compensate for the emotional loss of the ring? I could.

            I’m big on insurance for lots of reasons, but one thing I think about often is that when the bad things happen that require you to use insurance, you’re already upset about the bad things. The insurance helps leave it just at that.

            For example, once my car got broken into and my backpack was stolen. There was nothing of actual value in the backpack (just LOTS of work, it was a devastating loss). It was such a terrible violation. I was able to call StateFarm and tell them what happened, and they called someone to repair my car window/vacuum out my car within an hour. Did I have my backpack back? No. And I was still realing from the violation of being robbed. But I didn’t have to think about paying for a new car window. It was just replaced.

            For my ring, 80 bucks annually is pretty much a nonissue in our budget (obviously YMMV). If my ring was lost or stolen, I’d get the full value. I’d either get to replace it, or I’d get to use that money for something that wouldn’t make me feel like I’d just loss this enormous emotionally important item and had nothing to show for it.

      • Jane

        And the fear that your jewelry would all get stolen at once is reasonable. Someone broke into my friend’s apartment over the summer and did just that. The thief or thieves didn’t take anything else (not even cameras and electronics). The police said that was pretty common.

        I don’t think she had anything expensive enough to warrant insuring, but it was really a bummer and she lost a lot of emotionally valuable gifts.

      • Lawyerette510

        This exactly. My fear isn’t one earring falling out somewhere, it’s my apartment being broken into and most of it being taken. I could not afford to replace it all, and even if I could, I don’t know if I would choose to spend money from my savings on some of the items, but I would very much like the option to replace them.

    • idkmybffjill

      I think this absolutely depends on the value of your jewelry too. My husband’s ring isn’t insured because replacing it wouldn’t be convenient, but we wouldn’t have to tap into savings. My rings are because we would have to tap into savings to replace them (and ultimately wouldn’t)

    • Lawyerette510

      This product is unnecessary for you. That doesn’t mean it’s unnecessary for everyone. For many of us with more than $1500 worth of jewelry, it is a good idea. Don’t piss on posts just for the hell of it.

    • Jason Portnoy

      I paid 57000 for my fiancé’s engagement ring and it appraised for $62,000 payment for insurance are about $130 quarterly I think that’s pretty damn worth it!!! Chances are she probably will lose it someday and that 500 something a year will certainly pay off!

  • Abby

    Amusing Anecdote – My fiance proposed this summer in front of many friends and family. It was wonderful. I pulled him off to the side just to have a private moment to bask in the engagement bliss and which point he chooses to say to me “Don’t stress but the ring isn’t insured yet so don’t lose it”

    DONT LOSE IT?! PANIC. I actually thought we should put it back in the box until we could contact our insurer on Monday. (Of course he was having none of that).

    I can’t even begin to explain to you the peace of mind having ring insurance gives me.