Jewelry Insurance

After you've selected that special piece of jewelry, you'll want to protect it against jewelry theft, damage, and loss. 

The Source pays the entire first year of a no-deductible policy on all engagement rings over $1000. If you choose to renew your policy, you will receive a Source gift card for the amount of your premium for the second year.

The Source also pays the entire first year of a no-deductible policy on all colored stone rings over $1000.

Insurance coverage is provided by Jeweler's Mutual, and covers:

• Theft
• Loss
• Damage
• Mysterious disapearance

Since 1913, Jewelers Mutual has been a leader in jewelry protection for jewelers across the country. We also can protect your personal jewelry, frequently covering jewelry insurance claims that homeowners insurance or renters insurance doesn't. Jeweler's Mutual is exclusively endorsed by The American Gem Society (AGS) and Jewelers of America

Is insuring your jewelry really necessary?

“Many people still have the false impression that their jewelry is fully covered by their homeowners policies,” said Mike Maley, vice president of Personal Lines Operations at Jewelers Mutual Insurance Company in Neenah, Wis. “What they don’t realize is that unless their loss is from fire, theft, or some other cause specifically mentioned in their policy, it may not be covered.”

Furthermore, coverage for theft of your jewelry generally is limited to $1,000. If the loss of jewelry occurs due to a burglary, this limit will not provide nearly enough coverage if a $5,000 ring is stolen, along with the rest of your jewelry.

Theft and fire aren't your only worries. According to Maley, more than half of all reported jewelry losses are partial losses, from the loss of a single stone to a chipped diamond. Many people are surprised to learn that everyday activities, like washing dishes in a ceramic sink or playing a physical sport, can cause these types of losses.

Stacey B., from Jonesborough, Tenn., chipped her diamond while playing with a feisty dog. “Ack! I was heartbroken,” she wrote in her blog. While partial losses like this one typically are not covered by a basic homeowners policy, Stacey was fully covered with her policy from Jewelers Mutual. The company’s specialized jewelry insurance policy provides some of the broadest protection available, including coverage for damage, loss, theft, and even mysterious disappearance.

“I never would have thought that any diamond could be prettier than the one I chipped, but this new one is awesome,” she said.

With affordable rates, the insurance is well worth the cost. “You would never drive your car without making certain it was fully insured,” Maley said. “Why take a similar risk with an expensive item that is so easily damaged or lost?”

Premiums start at only $25 per year.