Monday, May 19, 2014

Should you be Insuring your Jewelry or Engagement Ring?

 Jewelry Insurance?

Your favorite pieces of jewelry are more than valued possessions. They’re reflections of who you are. They’re symbols of your feelings for loved ones and of life-long relationships. Protecting them from theft, damage, mysterious disappearance, or loss is as natural and important as protecting anything of great value. 

More than a monetary investment

Consider everything that went into the jewelry purchase, whether it was by you or by the person who gave you the piece as a gift. The hours, days, or weeks spent shopping. Working with a jeweler or goldsmith to customize or engrave the piece. Choosing the perfect time and place to present it. 

Preserving memories

To many, jewelry serves as a physical reminder and connection to life’s most cherished memories. Protecting jewelry with jewelry insurance helps preserve these memories. The engagement ring that was expressing your love for the proposal. The anniversary band that recalls the day you were married. The watch your father gave you on your graduation. The diamond tennis bracelet you bought yourself after a promotion. 

Jewelry should be worn, not locked away

Think of your most valued possessions. An engagement ring. An heirloom necklace. A pendant. These aren’t things that should be locked away. They should be worn, enjoyed, and lived in. We offer the very best in jewelry insurance because freedom from worry is a valuable gift in itself. This is why so many of our customers make jewelry insurance part of their jewelry gift. 

Jewelry is all they do: Perfect Circle Jewelry Insurance by Jewelers Mutual Insurance company is jewelry insurance by experts.

Some advantages of Perfect Circle Jewelry Insurance by Jewelers Mutual:

  • Offer worldwide coverage including jewelry loss, damage, theft, and mysterious disappearance.
  • Provide Comprehensive jewelry coverage that goes beyond ordinary homeowners insurance.
  • Allow you to choose your own jeweler
  • Have licensed insurance agents as customer service representatives who have the knowledge and power to help you.
  • Specializes exclusively in jewelry insurance.
  • GIA on staff. Protecting jewelry is our specialty and our passion.
  • We answer to our policyholders, not stockholders.
  • They have been in business over 100 years.

Jewelry Coverage

Jewelers Mutual Insurance Company understands what jewelry means to our customers. We know how exciting owning jewelry is, and we also know how painful a jewelry loss can be. If the day ever comes when you call to report a loss, we’ll be there to listen to your story, share in your experience, and work with you and your jeweler to make you whole again.

Coverage that goes beyond the ordinary

Your jewelry isn’t ordinary, so don’t settle for ordinary insurance. Standard homeowners policies may only provide limited jewelry protection, often excluding jewelry damage and loss.

We cover real life

Perfect Circle® Jewelry Insurance by Jewelers Mutual is truly comprehensive coverage because we build our coverage around how you live your life. For example, we understand that if you have a jewelry loss, you can’t always pinpoint how or where your jewelry went missing so we cover mysterious disappearance. You live in your jewelry—it doesn’t stay pristine, gemstones fall out and prongs get damaged. We cover that. Replacing lost jewelry and repairing damages is an important part of our coverage. Check out our sample policy.

Worldwide coverage:

• Loss
• Theft
• Damage
• Mysterious disappearance

Same kind and quality

There is more to each piece of jewelry than meets the untrained eye. Our jewelry experts, including on-staff, certified gemologists, know that the value of a diamond goes beyond the “4 C’s.” We replace with “same kind and quality.” This is especially important when you have name-brand jewelry, such as Tacori or Verragio. Our goal is to make repaired or replaced jewelry virtually indistinguishable from the original.

Choose your own jeweler

Many homeowners and renters policies may request customers to use jewelry repair or replacement companies within their network, or to obtain several estimates before proceeding with a claim. We believe suffering the loss or damage of a diamond ring or other piece of valuable jewelry is hard enough. We do not require multiple estimates and we work with your own trusted jeweler. Check out Arthur's Jewelers 

Automatic coverage

Customers with an existing policy from Jewelers Mutual enjoy up to 30 days of automatic coverage (subject to a limit of up to $10,000) on any newly acquired jewelry items. This provides peace of mind for spontaneous purchases. We also offer optional coverage for jewelry you only wear for special occasions and for unscheduled jewelry not specifically listed in your policy.

Loose stones

Your 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 in most personal jewelry insurance policies. 

No deductible option

The loss, damage, or theft of a treasured piece of jewelry shouldn't force you to dig into your own wallet to repair or replace it. Every policy is available with a $0 deductible option.

Jewelry Evaluations and Appraisals

If you ever have to make a claim on your cherished piece of jewelry, an accurate and up-to-date appraisal is the best way to assure you’re properly protected for its full value. Because Perfect Circle® Jewelry Insurance by Jewelers Mutual Insurance Company covers repairs and replacements, the appraisal is the key document in providing us the details of what makes your piece distinct.  At Arthur's Jewelers you will receive an appraisal with each piece of jewelry you purchase.

Traditionally, the value of a piece of jewelry is determined by a Jewelry appraiser using a number of different factors including:
  • Current retail prices in the regional market
  • Cut, color, clarity and carat weight of diamonds and other gemstones
  • Type and number of diamonds and other gemstones used
  • Weight of the precious metal used in the mounting
  • Type and number of gemstones
  • Origin of the materials used
  • Craftsmanship of the piece
  • Manufacturer’s marks including brand name, serial numbers, and model numbers for pieces like watches
Jewelers Mutual accepts many forms of appraisals including evaluations and detailed sales receipts. The easiest way to secure a proper appraisal is to do so at the same time you purchase your piece. It assures that current market prices are reflected and that the distinct characteristics are accounted for.

More Information about Jewelry Insurance:  Perfect Circle Insurance
For Information about Arthur's Jewelers Lifetime Policy
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