Jewelers Mutual evaluate: Jewellery insurance coverage

In the event you’re thinking about insuring your jewelry, 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 yr (for a $500 piece)
• Enterprise insurance coverage: 3 insurance coverage merchandise for jewellery companies

Who’s Jewelers Mutual good for?

Jewelers Mutual is a superb choice for these with a various assortment of knickknack, because it insures all the pieces from free stones and cufflinks to extra frequent items like rings and bracelets. Many jewellery insurance coverage corporations received’t insure free stones in any respect, so when you have these in your assortment, it’s value getting a quote from Jewelers Mutual. We rank Jewelers Mutual because the best overall jewelry insurance company, and the best for insuring luxury watches like a Rolex or Cartier.

It’s additionally a good selection in case you’re in search of comparatively inexpensive protection and versatile deductible choices. If, for instance, you’re situated in Boston, Massachusetts, and want to insure a $7,500 women’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 corporations require value determinations. Whereas Jewelers Mutual doesn’t, we strongly suggest getting your jewellery appraised to make sure you get enough protection. Sadly, Jewelers Mutual doesn’t provide an in-house appraisal service, so it’s not a good selection for these in search of the comfort of an insurer who additionally does value determinations. 

In the event you’re thinking about bundling different frequent insurance coverage merchandise exterior of knickknack, Jewelers Mutual isn’t the best choice both. This firm doesn’t provide automobile or property insurance coverage, so it’s not the appropriate alternative for customers in search of a number of insurance coverage coverages. 

Jewelers Mutual charges and merchandise

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

Jewelers Mutual jewellery insurance coverage

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

Along with the above items, Jewelers Mutual additionally insures brooches, chains, charms, cufflinks, free stones, pearl strands, pendants, units, watches, and different forms 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

In the event you personal a jewellery enterprise, Jewelers Mutual provides protection that would assist shield your stock and different property. With its jeweler’s block coverage, you’ll get protection to your assortment in addition to any items prospects entrust to you. Its enterprise homeowners coverage protects your constructing, non-jewelry property, revenue, and bills. You can even get industrial umbrella legal responsibility safety, which offers complete protection for property injury and bodily harm legal responsibility. Be taught extra about business insurance from our comprehensive guide, along with the most effective small enterprise insurance coverage corporations record.

The Jewelers Mutual platform and buyer assist 

The Jewelers Mutual claims course of is pretty easy. Clients can both file a claim online 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 info, together with the identify of your most well-liked jeweler in case you’ve misplaced a bit or it wants restore.

If you have to attain the Jewelers Mutual customer support staff, you are able to do so by means of the next channels. Representatives can be found to help you over the cellphone Monday by means of 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 e mail about claims or coverage questions.

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

AM Greatest, which focuses on offering credit score rankings for insurance coverage corporations, has rated Jewelers Mutual as an A+ (superior) firm for the previous 37 years. This ranking signifies that the corporate is financially sound and capable of pay claims with out points. 

Along with its excessive AM Greatest 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 opinions

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

Glad prospects reward the corporate’s customer support staff, straightforward software course of, and simple claims submitting course of. Nevertheless, some detrimental opinions point out points with coverage cancellation and sudden fees. 

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 forms of jewellery, so it’s appropriate for a lot of forms of prospects. Total, it’s a terrific alternative whether or not you wish to insure a single piece or a full assortment. 

That mentioned, we suggest procuring 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 may help you discover an inexpensive jewellery insurance coverage coverage that meets your wants. 

Steadily requested questions