James Allen Insurance (What Options Do You Have?)

James Allen Insurance (What Options Do You Have?)

Wondering if your new jewelry from James Allen will come with any kind of insurance?

You have made the right stop!

In this article, we shall cover the following:

  • Insurance policies at James Allen
  • Whether James Allen has insurance that covers wedding rings
  • Who is Jewelers Mutual and how are they related to James Allen?
  • And a lot more!


Does James Allen Offer Insurance on Wedding Rings?

Yes or No?

James Allen does not offer any insurance on its own, it has partnered with another company to provide you with insurance on not only wedding rings but all the other types of jewelry. This other company is Mutual Insurance Company.

Because of this existing partnership, it is very easy for you to ensure your ring either on the James Allen website or the Jewelers Mutual website.

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Jewelers Mutual is the only insurance company in the US and Canada that insures all types of jewelry.

What Does the Insurance Cover?

There are many advantages that you stand to gain if you insure your wedding ring with Jewelers Mutual. First of all, you get to choose from which retail store you buy the jewelry, which is James Allen in this case. You also get protection against theft both in the US and abroad. The insurance also covers accidental theft and disappearances which cannot be explained.

Additionally, any damage to the wedding ring will also be covered by this insurance.

Mutual Insurance can repair damages on the wedding ring and make it as good as new and also retain its quality. The cost of repair varies depending on the type of jewelry that has been damaged. Repairing wedding rings tends to be expensive. Mutual works hand in hand with the jewelry retailer that sold you the ring to ensure it looks as good as new.

Lastly, this insurance also covers jewelry that is lost, only if the replacement piece is the same type and brand as the original one. They will work with your vendor to get the most accurate match.

What About the Cost?

Several factors determine the cost of insuring your wedding ring, although Mutual employs a flat rate so that it is easy to calculate and quote the insurance cost. Most insurance costs from 1% to 2% of the jewelry’s retail price at the time of insuring.

Also, you can decide to add an amount called a deductible to your policy. This refers to the amount you will pay directly from your pocket to reduce the annual premium quote. This is a smart move if you want to ensure a piece of jewelry that is very expensive.

The insurance quote that will be given to you on the website is the total you pay annually to protect your ring. For example, if you bought the wedding ring at $15,000, it will cost you $150 annually to protect it against theft, loss, or damages.

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Is the Insurance Worth It?

Whether paying an insurance premium is worth it or not depends on an individual, although, most people find their wedding rings valuable and irreplaceable. This is the major reason for buying insurance. Losing a wedding ring is regrettable, even if you replace it, the new ring will not be as valuable as the lost one. Having a convenient insurance cover guarantees that you will continue wearing this sentimental piece of jewelry for a long time.

Wedding rings are jewelry pieces that symbolize marriage. When you keep this in shape and shine, it shows how proud you are of your marriage and in the vows, you made to your spouse.

How to File an Insurance Claim

Filing an insurance claim with Jewelers Mutual Insurance Company is easy and you can get the steps here. However, let’s look at the entire description in brief. For a stolen ring, you need to report to the police first. If claiming for other reasons, you need to submit the claim on Mutual’s website. Alternatively, you can call them directly on 888-824-2424 and speak to an agent. All your information will be recorded and the extra details followed up to get clear information about the jewelry that is being filed for a claim.

There will be an agreement between the original manufacturer and the retailer that sold you the ring and Mutual in case any repairs will be needed.

If replacement or repair is needed, Mutual will set an appointment with the jeweler that you agreed upon and the process of repair or replacement will begin. If you are contented with the work done on your ring, you can then pay the deductible that is applicable if any. In this case, James Allen would pay Jewelers Mutual any balance that is remaining.

Remember, it is important to re-insure your ring after replacement or repair. This means the exact value of the ring will be retained by both James Allen and Jewelers Mutual Insurance.

Insurance For Engagement Rings At James Allen

Like wedding rings, James Allen offers insurance cover for all its engagement rings through Jewelers Mutual, an external insurance company. This insurance covers all manner of jewelry and also several kinds of engagement rings.

What Does the Insurance Cover?

Apart from costs incurred by resizing, all the other engagement ring issues will be covered by Jewelers Mutual. Such issues may include ring theft, loss of a ring, and damaged ring. The insurance also covers a ring that is lost when traveling.

How Much Does it Cost?

The cost is not different from that of wedding rings: insuring an engagement ring will cost you 1% or 2% of the value of your ring. Mutual charges you this amount on yearly basis. Depending on the kind of contract you entered into, there may be a deductible that ends up reducing the annual rate.

Is it Worth It?

To most people, an engagement ring is worth buying an insurance policy for because of the emotional and sentimental attachment they have to it. An engagement ring is one of those jewelry pieces that you most probably will receive only once in your life, so you must keep them as beautiful as possible.

Also, a lost engagement ring can create financial stress for some people. Having an insurance cover that enables you to replace the lost piece with an identical one can be a great relief after losing the original.

How to File an Insurance Claim

Jewelers Mutual has a dedicated phone line where clients can call and file a claim, or you can simply file the claim online on their website. The process of filing a claim for an engagement ring is similar to that of a wedding ring. You will be required to provide a preferred jeweler or the manufacturer of the ring to Mutual so that they can begin the replacement or repair process.

James Allen Insurance for Other Jewelry

Yes or No?

James Allen provides insurance cover for all the jewelry that they sell, though through an external insurer- Jewelers Mutual Insurance. This insurance company offers insurance that covers all types of jewelry you can think of including loose diamonds that are not put into a setting.

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What Does the Insurance Cover?

Like with wedding rings and engagement rings, Mutual covers all potential damages that other jewelry types may suffer. This insurer covers damages, theft, mysterious loss, or any other kind of loss.

How Much Does it Cost?

The cost of protecting any other type of jewelry that you buy will be between 1% and 2% of the value of the jewelry every year. The cost will be calculated depending on the retail price of the jewelry at the time of insuring. You can also get into a contract that accepts deductibles to lower the annual cost.

Is it Worth It?

The emotional and sentimental value attached to wedding and engagement rings may not necessarily apply to other types of jewelry. This means that the importance of insurance will vary from person to person. For most people, jewelry that was bought expensively or costs more than $100 is worth insuring. This is because the overall cost is not likely to be high.

Also, any jewelry that holds sentimental value to the wearer, regardless of the type is worth being insured. Most people feel there is nothing that can be equated to the memories attached to such kinds of jewelry.

How to File an Insurance Claim

You can file an insurance claim at Jewelers Mutual using the phone number given above or online on their website.

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