jewelers mutual insurance?

Thread: jewelers mutual insurance?

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  1. #1
    Member agpatel's Avatar
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    jewelers mutual insurance?

    Does anyone have jewelers mutual insurance on there watches? If so how was your experience and have you ever had to make a claim. Do you need to get an apprasal on a new AD purchase or will the receipt/invoice be sufficient to get the replacement value of the watch for there records.

    Rather not have it go on my renters insurance and get a separate policy for a marginal price.

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    Member HarryBentley's Avatar
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    Tesco Finest home insurance works pretty well for me

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    Moderator Public Forum John MS's Avatar
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    Re: jewelers mutual insurance?

    Quote Originally Posted by agpatel View Post
    Does anyone have jewelers mutual insurance on there watches? If so how was your experience and have you ever had to make a claim. Do you need to get an apprasal on a new AD purchase or will the receipt/invoice be sufficient to get the replacement value of the watch for there records.

    Rather not have it go on my renters insurance and get a separate policy for a marginal price.
    Never heard of them, but they have apparently been around for a while.

    There will be a marginal increase in premiums based depending on value no matter which company you go with. Have you contacted your insurance company for a quote on a jewelery floater? Jewelers Mutual will risk rate your premiums based on location so be sure to consider that cost. Another less expensive option is to put infrequently used watches in a safe deposit box.

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    Member dkouzou's Avatar
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    Re: jewelers mutual insurance?

    I use them... & haven't made a claim.

  6. #5
    Member agpatel's Avatar
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    Re: jewelers mutual insurance?

    JM is $25/yr for me. I only have 2x watches that will be under the policy. Mainly seeing if I need to get them appeased every year or just when I add them onto the policy.

    I will be contacting them next week to ask direct but was looking for opinions on first hand experience if anyone has any with them.

  7. #6
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    Re: jewelers mutual insurance?

    I had them for awhile on our wedding rings. They're cheap and supposedly very reliable and great to deal with when making a claim. I never made a claim but did contact their CS twice they were superb both times. I let it lapse in April 09...in July 09 I lost my ring at the lake...

    So I re-upped but did it through State Farm with all my other insurance for convenience. They were about 7 dollars more per year. Now I've got three watches and about 7,500 in diamond rings on the policy for a total of about 10k in coverage. Cost is roughly 94 dollars a year, or about 8 dollars more than JM for a similar policy.
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  8. #7
    Member stndrdtime's Avatar
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    Re: jewelers mutual insurance?

    If you already have a homeowners policy, I would ask them what it would cost to simply schedule your jewelry on that policy. My guess, it wouldn't be that much to add the coverage to the existing policy.

    Sorry, I just re-read your post? What is the rationale for not having your jewelry scheduled on your existing renters policy? Cost?

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    Member CUSO's Avatar
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    Re: jewelers mutual insurance?

    I have several jewelry pieces and 2 watches with JM. My wifes patek was not bought through an authorized dealer so they required an appraisal. My recent Panerai purchase was through an AD, I even faxed the receipt to JM before I left the store and that was good enough for them. Use them, they are great. They cover everything including "mysterious loss". We enjoy our stuff now because it does not matter what happens to it, we are covered
    I CAN AFFORD IT, I AM JUST LOOKING FOR A DEAL!!!!!!!

  10. #9
    Omega Forum Moderator emmanuelgoldstein's Avatar
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    Re: jewelers mutual insurance?

    Quote Originally Posted by stndrdtime View Post
    If you already have a homeowners policy, I would ask them what it would cost to simply schedule your jewelry on that policy. My guess, it wouldn't be that much to add the coverage to the existing policy.

    Sorry, I just re-read your post? What is the rationale for not having your jewelry scheduled on your existing renters policy? Cost?
    Many homeowner policies will not cover the watches outside of the house. If you are out or on vacation and your watch is lost or destroyed a homeowner's policy may not cover it.

    Me and my SO have our watches and jewelry covered by JM. It was fairly easy to get everything covered and the premiums are minimal.
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  11. #10
    Member stndrdtime's Avatar
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    Re: jewelers mutual insurance?

    Quote Originally Posted by emmanuelgoldstein View Post
    Many homeowner policies will not cover the watches outside of the house. If you are out or on vacation and your watch is lost or destroyed a homeowner's policy may not cover it.

    Me and my SO have our watches and jewelry covered by JM. It was fairly easy to get everything covered and the premiums are minimal.
    Right, but most - if not all - homeowners carriers allow to you to specifically schedule jewelry items for additional premium to provide all risk / all location coverage. It's generally called a "personal property floater" or something similar. It sounds like JM is a good value and may, in fact, be the better deal, but my guess is the same coverage is likely available through a persons existing HO carrier. It has been my experience that "add ons" to an existing HO policy are generally cheap. But, it certainly pays to shop around....

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