Does Blue Nile Offer Insurance?

Does Blue Nile Offer Insurance?

What does Blue Nile insurance offers? What are the eligibility requirements? Read on to find out.

Are you wondering if Blue Nile will offer you any insurance on the ring you want to buy from them?

Congratulations, you have come to the perfect place!

The following guide is going to give you detailed information about:

blue nile insurance page

  • Insurance policies at Blue Nile
  • Does Blue Nile provide insurance for wedding rings?
  • Who is Jewelers Mutual and what relationship do they have with Blue Nile?
  • And a lot more!

Without wasting any more time, let’s start.

Blue Nile Insurance for Wedding Rings

Marriage is a lifetime bond that is supposed to be as strong as the vows that were taken. A wedding ring is worn to symbolize this eternal bond. For this reason, it is important that the wedding ring you buy has several guarantees and insurance covers.

There is homeowners and renters insurance that offers insurance policies for rings and other jewelry. This is a good place to start, but it would be better if you took your time to look for insurance companies that have specialized in insuring jewelry and know the jewelry industry and market well.

When you buy a ring for the first time from Blue Nile, you are guaranteed a free resizing during the first year, free shipping, and free returns among other guarantees. All the ongoing insurances from Blue Nile are offered through a partnership with Jewelers Mutual Insurance Company.

Jeweler’s Mutual works hand in hand with GIA and AGS when insuring jewelry to make sure that they are current and accurate when dealing with claims and coverage. Diamonds from Blue Nile face a smooth transition to insurance coverage since all their diamonds are tested for quality by the Gemological Institute of America.

Yes or No?

Blue Nile has entered into a partnership with Jewelers Mutual to replace or repair any wedding ring you buy from them. From our research, we have established that Jewelers Mutual covers all the works needed for your ring and they do that fast.

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What Does the Insurance Cover?

When looking for insurance cover for your jewelry, it is important to know what kind of a policy you want since insurance policies do differ. You must understand what is covered by the policy. Make an effort to know what deductibles are, the method of filing a claim, and how the restoration path looks like. Remember to keep your purchase receipt carefully and any other appraisal valuations for your ring.

Blue Nile provides an appraisal valuation for any diamond that carries a price tag that exceeds $1,000. To ensure that you have current insurance covers all the time, it is important that you get continuous appraisals as the years pass.

How Much Does The Insurance Cost?

Having looked at reviews from previous customers and information from the website, we can say that the insurance is set at 1% or 2% of the price of the ring. For example, if you buy a ring at $1,000, the insurance would cost you $100 as a premium every year. If this premium is too expensive for you, you can opt for a deductible, where you will pay for every claim that you file.

Is Blue Nile Insurance Worth It?

There is no doubt that insurance for your highly-priced jewelry is worth it. When you purchase an insurance policy, you rest assured that any repairs or loss will be covered by the insurance. The annual premiums you pay are meager compared to losing such an expensive investment.

Filing an Insurance Claim

The process of filing a claim is easy depending on what the insurance covers and the most recent appraisal you did. The first place to start when filing for a claim is on the website of Jewelers Mutual. Jeweler Mutual on their part will ask for the contact of your preferred jeweler to repair your ring and they will pay the jeweler directly. JM does not write a check for the ring you lost; they will also pay the local jeweler to replace the ring.

Jewelers Mutual works with reimbursement insurance, hence their reason for paying the jeweler directly.

If you bought the wedding ring from a high-end store like Tiffany, and you wish to get a similar piece, you will be required to buy the ring, get a receipt and then the insurance company will refund you the money.

Blue Nile Insurance for Engagement Rings


Yes or No?

Blue Nile has partnered with Jewelers Mutual to provide insurance covers for engagement rings. The GIA report and appraisal valuation information collected by Blue Nile is given to Jewelers Mutual so that the proper insurance cover is offered for your engagement ring.

What Does the Insurance Cover?

Like the wedding rings, Jewelers Mutual covers the loss of an engagement ring either through theft or negligence. The insurance will also cater for failed settings, loss of stones if the loose diamonds are separated from the ring. The reimbursement policies for engagement rings are flexible and you can choose your preferred jeweler to repair or replace the ring.

JM, however, insists that they will only reimburse funds for comparable jewelry. If you have a unique jewelry ring that has those one-of-a-kind diamonds, it may be hard to replace the special diamonds. Blue Nile diamonds assures customers that all the engagement rings they have will be replaced if they get lost.

How Much Will It Cost?

There is no difference between the cost of insurance for a wedding ring and that of an engagement ring. Through Jewelers Mutual, Blue Nile charges about 1% of the value of the ring for an insurance premium on an annual basis with no deductible. So, if you buy a $6,000 diamond engagement ring, you will buy insurance at $60 per year. If you choose the $500 deductible option for the $6,000 ring, you will part with $55 per year. However, if you take that option of saving $5, you will need 10 years to make up the difference in paying the 4500 deductible.

Is The Insurance Worth It?

Buying insurance for any jewelry is always a question of risk tolerance. The fact that you spend a fortune to buy a beautiful engagement ring that you probably have a sentimental attachment to means you need to rest assured that it is covered in case anything happens. The reimbursement process at Jewelers Mutual is friendly and is cost-effective that makes it hard for a customer to say no.

Filing an Insurance Claim

The process of filing a claim for a wedding ring is the same used for an engagement ring. You will start the process online at Blue Nile. At the time of filing, you should have the original receipt of purchase together with appraisal valuations. You will then be asked for a jeweler that you prefer to replace your ring, get a comparable piece, or repair. Blue Nile pays the jeweler directly in case repairs are needed. In all cases, repairs or replacements, the pay is given to the local jeweler.

By being asked for your preferred jeweler, Blue Nile ensures flexibility when getting the replacement ring that you like.

Does Blue Nile Offer Insurance for Other Jewelry?

Yes or No?

Blue Nile does not offer insurance on wedding and engagement rings only but also other jewelry in their collection. This is made possible through the association they have with Jewelers Mutual. All necklaces, bracelets, chains, pendants, bands, and all other jewelry costing more than $1,000 come with an appraisal valuation which is handed over to Jeweler Mutual when analyzing the insurance cover. It is recommended that you get your jewelry covered by an insurance company and not home insurance. If possible you should buy a premium from an insurer who specializes in jewelry and will offer you the policy at a lower cost.

What Does The Insurance Cover?

Similar to other insurances already discussed, insurance for other jewelry covers theft, loss, broken settings, and broken chains. There is also a reimbursement program from Jeweler Mutual where they pay the claims to the local jeweler directly but you have to tell them the jeweler that you prefer to work on your jewelry.

How Much Does it Cost?

For all the other types of jewelry, Jewelers Mutual in conjunction with Blue Nile charge you only 1% or 2% of the value of the jewelry piece you wish to insure. In most cases, this is complimentary if your bracelet, necklace, or other jewelry type costs more than $1,000.

Is the Insurance Worth it?

Unlike wedding and engagement rings, other jewelry types are considered not to have as much sentimental attachment and value. This means before you buy insurance decide if you would want to replace it if it got lost. If you realize that the jewelry you have has sentimental value, then it means that you should be thinking about purchasing an insurance premium.

Filing an Insurance Claim

The procedure of filing a claim remains the same as that used for wedding and engagement rings, you start the process online. Where necessary, Jeweler Mutual may call you to ask for additional information about breakages and loss. You will be required to present original receipts for the jewelry and recent appraisal valuations. Once that is done, you get the luxury of choosing which jeweler will work on your jewelry or get you a comparable piece.

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