Engagement rings… don’t we all dream about the perfect ring and fantasy proposal? Once you get it, that ring means the world to you. So have you ever thought about protecting it, or what that may mean? Oftentimes, jewelry insurance is forgotten in the joy of the moment and may be an afterthought (once your ring is already gone). So, we’re happy to introduce our newest sponsor, Jewelers Mutual Insurance Company. Jewelers Mutual is an insurance provider of Perfect Circle® Jewelry Insurance that specifically covers personal jewelry. They’ve been kind enough to educate us on some of the myths associated with jewelry insurance to help you ensure that your ring is protected!
Myth #1: I don’t need additional insurance because my engagement ring is automatically covered on my homeowners/renters policy. Frequently, homeowners insurance covers only a small dollar amount for jewelry loss unless you have attached a floater or rider to your policy. Look for a company that offers broader coverage than standard homeowners or renters policy, and one that’s specifically for jewelry, like Perfect Circle™ Jewelry Insurance because if you have to take out a jewelry insurance claim, it may potentially affect your homeowners policy premiums or eligibility.
Myth #2: My homeowners coverage includes jewelry damage or loss, regardless of the reason the jewelry is missing. Typical homeowners policies do not cover mysterious disappearance. Make sure to double check on this!
Myth #3 In the event of a jewelry insurance claim, I can use the jeweler of my choice to handle the replacement, regardless of the insurance provider. Not always true, as many insurers require you to work with their preferred replacement company. Jewelers Mutual provides you with the flexibility to work with your jeweler of choice for repair or replacement.
Myth #4 I had my jewelry items appraised when I first got them. Is there really a need to have them re-valued? If it’s been a while since you’ve had your values updated, your jewelry may be worth more now than when it was originally purchased. Now may be a good time to visit your jeweler to have your jewelry values reviewed and determine if you have proper coverage. This also gives the jeweler the opportunity to check for any damage or wear and tear that could result in loose stones (and lost diamonds!). Ask them for a professional cleaning as well. You’ll leave with jewelry that’s sparkling line new and have the peace of mind that it’s in good condition and properly valued.
Now that you have a clearer understanding about insuring your ring, visit Perfect Circle Insurance or call 888-884-2424 to find out more information about the importance of jewelry insurance! You’ll feel much more at ease about wearing that gorgeous diamond, once you know it’s properly insured!
Photo by Rylee Hitchner