Insurance

Why should you insure 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? Austin’s Fine Jewelry recommends personal jewelry insurance with Jewelers Mutual.

Realizing all neighborhoods are vulnerable to burglaries, security for your jewelry and other valuables in your home is a matter of attitude. Your home could be a target if a thief feels you have valuables worth stealing and there’s easy access to them.

Surprisingly, most burglaries occur during the day, not at night. Burglaries also are more frequent when doors and windows are unlocked. So, 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!

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

• When practical, keep doors and windows locked and always when you leave. If you have children who need quick entry, consider having them use a back door or a routinely monitored door.
• Make your house look lived in — keep the lawn groomed and pick up your mail and newspapers daily.
• Keep your find jewelry in a secure place — a home safe or safe-deposit box. If you don’t have these, consider an immobile, locked compartment — not a jewelry box or dresser drawer, places thieves attack first.
• Remove your jewelry and place it in a safe location before gardening, playing sports, or performing difficult chores around your home.
• Never trust putting jewelry in your pockets. Even pockets with zippers can be susceptible to opening.
• When traveling, store unworn jewelry in the hotel’s safe.
• Never pack jewelry in your luggage to be transported by airlines, cruise lines, or other public conveyance. Today’s mandatory inspection provides easy access.
• Do not set jewelry items on an open surface such as a sink, counter, or public table. They can be forgotten, lost, or even stolen.
• If you bump or catch your jewelry, damaging it, place it in a safe place until you can take it to a jeweler for inspection and repair.
• Have your jeweler inspect your jewelry on a regular basis. This is especially true for items you wear frequently. Sometimes, small problems — like loose stones, faulty clasps, or worn or damaged prongs — can be detected and repaired before they turn into bigger problems.
• Since jewelry values periodically change, these inspections also allow your jeweler the opportunity to make sure your jewelry is properly valued for replacement purposes.
• Finally, insure your jewelry to assure you can replace it if it’s lost, stolen, or damaged. We recommend Jewelers Mutual. Insuring jewelry is all they do.

About Jewelers Mutual…

• Is the leading U.S. insurer for the jewelry industry;
• Offers coverage for jewelry businesses in retail, repair, custom design, jewelry appraising, wholesale, and manufacturing;
• Provides coverage throughout the U.S. for individuals’ personal jewelry;
• Is licensed in all 50 states;
• Has earned an A+ financial rating from A.M. Best;
• Is a mutual company owned by our jeweler policyholders and individuals who purchase our Personal Jewelry insurance;
• Is represented by more than 500 independent agents across the country who provide local service to our commercial jeweler policyholders.

Frequently Asked Questions…

How can I apply for Personal Jewelry Insurance?

When you purchase a piece of jewelry, have your jeweler perform an insurance appraisal or evaluation for each item. Complete the application, and either mail it with the appraisal/evaluation to Jewelers Mutual, or apply online at jewelersmutual.com.

How are insurance rates determined?

Insurance rates are based on historical losses for the state or county in which the person possessing the jewelry resides.

What is covered under this policy?

Personal Jewelry Insurance is a repair or replacement policy that provides coverage for loss or theft, and damage protection for your jewelry. It does not cover unset stones and irreplaceable items such as antiques. It is also not available for damaged items, items missing stones or pieces, watches that do not work, and non-jewelry items.

What payment options are available?

If your total premium is $200 or more, you may pay in either two or four installments. A service charge is added to each installment. Jewelers Mutual accepts money orders, checks, credit cards.

What do I do if I have a loss?

If your insured jewelry is damaged, lost or stolen, call Jewelers Mutual at 888-884-2424 (toll free) and a Personal Jewelry Insurance claim representative will give you complete instructions. If you prefer, you can report your claim through the web site. 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 appraised your jewelry and/or performs your periodic inspections to have the jewelry repaired or replaced.

How do I delete a piece of jewelry from my policy?

To delete an item from your policy, mail or fax a request explaining that you want a certain piece of jewelry taken off your policy. Reference the jewelry item number in your request. The item will be deleted from your policy on the postmark date stamped on the envelope sent with your letter. You will receive a notice in the mail about the deleted item, along with a refund in premium if applicable. If you have any other questions, please contact the Personal Jewelry Insurance staff at 888-884-2424 or submit your questions to a licensed service representative online.