Last updateTue, 19 Jun 2018 9pm

The value of jewelry goes far beyond the price tag


New survey details impact of jewelry loss

(NEENAH, Wis.) – From the most careful to the most forgetful, it seems that everyone is prone to losing something they care about. A recent survey conducted by Perfect Circle™ Jewelry Insurance (www.PerfectCircleInsurance.com/ImpactOfJewelryLoss) by Jewelers Mutual Insurance Company found that over half of respondents had lost a piece of jewelry that was either emotionally or monetarily valuable.

The survey of 600 married women in the United States found that most of the jewelry these women lost was valued at under $5,000; however, the true value was in the emotional connections the women had with their pieces. Nearly three-quarters of the women rated the loss as emotionally jarring and upsetting. Additionally, over two-thirds of these women never replaced the piece because they did not have insurance to fully cover their loss.

Jewelry represents precious memories and milestones in a woman’s life. In fact, nearly three-quarters of survey respondents reported that the piece they lost was a gift from someone else, leading to the emotional impact of the missing item. Having appropriate jewelry insurance can help mitigate the financial and emotional loss. 

A personal jewelry insurance policy, like the one offered by Jewelers Mutual®, the only company specializing exclusively in jewelry insurance in the United States and Canada (except Québec), offers individuals broad coverage, including repair or replacement of jewelry, in the event of a loss, theft, mysterious disappearance and/or damage.

“On the surface, what we sell is jewelry insurance, protecting the monetary value of our policy holders’ jewelry,” said Patrick Drummond, vice president of Sales and Marketing, Jewelers Mutual Insurance Company. “But dig deeper and what we are really selling is emotional well-being and the protection of precious memories associated with special jewelry pieces.”

To help protect your jewelry, here are some helpful tips from Perfect Circle Jewelry Insurance by Jewelers Mutual:

1. If you plan on removing your rings at home to wash dishes or take a shower, keep a designated bowl or container to put them in. That way you’ll always know where to look.

2. Get into the habit of double-checking for all your jewelry when leaving a public bathroom. Wet, soapy hands can cause a ring to fall straight into the trash can, or down an open drain.

3. When you’re in a public, bustling place that seems unsafe or unfamiliar, turn your rings backward so the jewels face your palm, and tuck pendants into your shirt where no one can see them.

4. Keep a detailed list of all your jewelry in your home, separately from where your jewelry is stored. If possible, also keep photos. This will make filing a claim in the event of theft or loss much easier.

5. Give yourself peace of mind by insuring your pieces. If you think your jewelry is covered by an existing policy, read it thoroughly and evaluate whether or not you’re comfortable with that level of coverage.

For more ways to protect your jewelry from loss or information on jewelry insurance visit PerfectCircleInsurance.com.