Jewelers Mutual overview: Jewellery insurance coverage

When you’re serious about insuring your jewellery, right here’s what to learn about Jewelers Mutual’s choices, charges, and extra. Observe that each one charges and costs are present as of March 11, 2024, and are topic to vary.

Jewelers Mutual at a look 

• Jewellery insurance coverage: Beginning at $7 per 12 months (for a $500 piece)
• Enterprise insurance coverage: 3 insurance coverage merchandise for jewellery companies

Who’s Jewelers Mutual good for?

Jewelers Mutual is a good choice for these with a diversified assortment of jewellery, because it insures the whole lot from unfastened stones and cufflinks to extra widespread items like rings and bracelets. Many jewellery insurance coverage firms received’t insure unfastened stones in any respect, so if in case you have these in your assortment, it’s price getting a quote from Jewelers Mutual. We rank Jewelers Mutual as the perfect total jewellery insurance coverage firm, and the perfect for insuring luxurious watches like a Rolex or Cartier.

It’s additionally a sensible choice for those who’re searching for comparatively inexpensive protection and versatile deductible choices. If, for instance, you’re situated in Boston, Massachusetts, and want to insure a $7,500 girls’s engagement ring, you’d pay between $84 and $113 yearly for Jewelers Mutual protection. Deductible choices vary from $0 to $5,000. 

Who shouldn’t use Jewelers Mutual?

Many jewellery insurance coverage firms require value determinations. Whereas Jewelers Mutual doesn’t, we strongly advocate getting your jewellery appraised to make sure you get sufficient protection. Sadly, Jewelers Mutual doesn’t provide an in-house appraisal service, so it’s not a sensible choice for these searching for the comfort of an insurer who additionally does value determinations. 

When you’re serious about bundling different widespread insurance coverage merchandise outdoors of jewellery, Jewelers Mutual isn’t the best choice both. This firm doesn’t provide automobile or property insurance coverage, so it’s not the fitting alternative for customers searching for a number of insurance coverage coverages. 

Jewelers Mutual charges and merchandise

This insurance coverage firm focuses completely on protection for jewellery and jewellery companies. Listed below are its protection choices.

Jewelers Mutual jewellery insurance coverage

Jewelers Mutual insures many varieties of jewellery, together with the next items. Its protection is pretty inexpensive, as nicely.

Along with the above items, Jewelers Mutual additionally insures brooches, chains, charms, cufflinks, unfastened stones, pearl strands, pendants, units, watches, and different varieties of jewellery. In case your gadgets are insured for 100% of their worth, Jewelers Mutual will reimburse you that quantity in the event that they’re misplaced, stolen, or broken for a coated motive. 

Jewelers Mutual enterprise insurance coverage

When you personal a jewellery enterprise, Jewelers Mutual provides protection that would assist defend your stock and different belongings. With its jeweler’s block coverage, you’ll get protection on your assortment in addition to any items prospects entrust to you. Its enterprise homeowners coverage protects your constructing, non-jewelry belongings, revenue, and bills. You may as well get business umbrella legal responsibility safety, which gives complete protection for property injury and bodily harm legal responsibility. Study extra about enterprise insurance coverage from our complete information, along with the perfect small enterprise insurance coverage firms listing.

The Jewelers Mutual platform and buyer assist 

The Jewelers Mutual claims course of is pretty simple. Clients can both file a declare on-line after a coated loss, or converse with a consultant to make a declare. When you file a declare, a claims examiner will comply with up with you to assemble extra data, together with the title of your most well-liked jeweler for those who’ve misplaced a bit or it wants restore.

If it’s good to attain the Jewelers Mutual customer support workforce, you are able to do so by the next channels. Representatives can be found to help you over the cellphone Monday by Thursday from 7 a.m. to 7 p.m. CST and Friday from 7 a.m. to six p.m. CST. They may also be reached through electronic mail about claims or coverage questions.

What’s Jewelers Mutual’s status for paying claims?

AM Finest, which focuses on offering credit score scores for insurance coverage firms, has rated Jewelers Mutual as an A+ (superior) firm for the previous 37 years. This ranking signifies that the corporate is financially sound and in a position to pay claims with out points. 

Along with its excessive AM Finest ranking, nearly all of Jewelers Mutual prospects specific satisfaction with the corporate’s claims course of and outcomes. That mentioned, some point out points with claims being denied. 

Jewelers Mutual person evaluations

Jewelers Mutual receives excessive scores from nearly all of its prospects. On Trustpilot, the corporate has a mean ranking of 4.7 out of 5 stars throughout practically 13,600 evaluations. Its Higher Enterprise Bureau evaluations paint a barely completely different image of the corporate, although. On the BBB, it has a ranking of simply 2.2 out of 5 stars throughout 5 evaluations. 

Glad prospects reward the corporate’s customer support workforce, straightforward software course of, and easy claims submitting course of. Nevertheless, some unfavourable evaluations point out points with coverage cancellation and surprising costs. 

Examine Jewelers Mutual options

Is Jewelers Mutual best for you?

Jewelers Mutual is a highly-rated, financially sound firm providing versatile jewellery insurance coverage protection at honest charges. It insures many varieties of jewellery, so it’s appropriate for a lot of varieties of prospects. Total, it’s an awesome alternative whether or not you wish to insure a single piece or a full assortment. 

That mentioned, we advocate buying round for insurance coverage protection, as charges can range relying on the place you reside and the worth of your gadgets. Acquiring a number of insurance coverage quotes will help you discover an inexpensive jewellery insurance coverage coverage that meets your wants. 

Continuously requested questions