Ask Away! - GemSafe® Jewelry Insurance Blog

Ask Away! - GemSafe® Jewelry Insurance Blog

Engagement Ring Insurance

At GemSafe, we get a lot of good questions from people thinking about jewelry insurance for the first time. Usually they’re getting married and buying an engagement ring or have recently purchased an expensive watch. Their questions are great — and so are our answers.

“If my ring is lost or stolen, do you cover the full replacement cost?” (Yes!)
“Anywhere in the world?” (Yes!)
“Even if the loss is my own fault?” (Yes!)
“From any jeweler I want to work with?” (Yes!)

You get the picture. We like to keep our jewelry coverage simple, affordable, comprehensive, and user friendly.

The questions get a bit more involved when someone already has a homeowner’s or renter’s policy and they’re trying to determine if it makes sense to switch to GemSafe for their jewelry coverage. Luckily, our answers remain just as positive and helpful. Here’s the basic reply:

Residential insurance policies are not typically designed to protect jewelry like an engagement ring or fine watch to its full replacement value. GemSafe is. Something else to consider is that a claim against your residential policy can impact your premium. It can even result in the policy being cancelled or not renewed. By taking your jewelry off your residential policy and insuring with GemSafe, your premium remains protected if you need to file a claim.

One final question usually comes up. “Is the cost of GemSafe higher than if I just added more coverage to my residential policy?” The answer, in almost every case, is that purchasing a GemSafe policy will be less than or equal to the cost of adding a rider to your residential policy. Plus you get all the great GemSafe coverage.

So you probably have a question of your own about now — “Where do I sign up?” And that’s the easiest answer of all. Just visit www.GemSafe.com or call 888-558-6050.