Jewelry Insurance: The Details and Why It’s a Must!

November 17, 2014
Words by Jennifer Stein
Photos courtesy of

Photos Provided by: Perfect Circle Insurance

The day my wedding ring was stolen was one I’ll never forget.

Before I tell you how it was stolen, keep in mind that I am a relatively intelligent person with a large amount of common sense. Or so I thought…

I had sent my wedding and engagement ring back to my jeweler in NYC to have it repaired.  I shipped it overnight through UPS and when our jeweler called the next day to let me know it hadn’t arrived, I knew instantly I would never see my ring again.

The recovery search began (albeit, in my heart I knew it was a wasted effort). We called UPS and immediately the “run around” began. After several days I finally got in touch with an operations manager. He told me the package had been torn open and the contents “pilfered” by someone at the company, but they couldn’t prove who it was. My heart sank, I felt sick. Something so precious to me was selfishly taken by some faceless person. We contacted UPS corporate, “Well, didn’t you have insurance? Didn’t you elect to insure it through us before you shipped it?” they asked. Obvious question. We were told by our jeweler not to insure the package through UPS since he had his own insurance.  Turns out, our jeweler had insurance through USPS and when my husband got instructions on shipping my ring, he had written down UPS. Simple mistake, but unfortunately a big one. What was an even bigger mistake was the fact that we had not added a rider to our homeowners insurance policy. We assumed when they said jewelry was covered, it would cover the cost of my platinum, 1.75 carat diamond Scott Kay ring. Wrong. They only covered up to $1,000 for a piece of jewelry. My heart sank even further.

Months passed and even after letters from our lawyer to UPS corporate informing them about the “pilfering” incident, they claimed no wrong doing. Their answer was, “We will only cover our standard $100 for the claim because the package was not insured.” I was beyond angry, so I called NBC and told them my story hoping maybe UPS would at least cover a portion of the replacement if the news were to get involved.  Especially since the ring was admittedly stolen.

NBC contacted UPS and we were able to get a whopping $600 to go towards the replacement of the ring.  Not even close to what the ring cost or the sentimental value of it. They aired our segment on the news and UPS sent the check for $600.

The reason I’m telling you this story is to give you the bit of common sense I lacked. Insure your jewelry. Let me say that again so it really sinks in. INSURE YOUR JEWELRY.
I’ve heard horror stories of couples losing engagement rings on their honeymoons or having them stolen like mine was.  Getting your jewelry insured is not only smart, it’s necessary. If only I had known better or had been aware of companies which cover sentimental valuables, I would have been the first in line to get coverage.
Recently I came across a company called Jewelers Mutual. They specialize in jewelry insurance of all kinds and actually have a program called Perfect Circle.  The annual premiums are affordable and getting a quote takes about 20 seconds. I tried it myself and will be getting all of my jewelry insured through them and this program.

Whatever you do, don’t wait until you’re on your honeymoon to do it. Once you’re finished reading my sob story, click on the link above and get your sparkling new engagement ring insured. This really is a story  of “better safe, than sorry.” And to this day, I’m still sorry.

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