NEENAH, Wis., Sept. 16 /PRNewswire/ -- There are certain rules when it
comes to popping the question, and one decidedly unromantic step is often
overlooked -- insuring the rings.
(Logo: http://www.newscom.com/cgi-bin/prnh/20040203/JEWELERSLOGO )
"Somewhere between deliberating over the diamond size and planning the
perfect honeymoon, couples should take a moment to consider jewelry
insurance," advised Tom Adelmann of Jewelers Mutual Insurance Company.
( http://www.jewelersmutual.com )
Any jewelry that is worn everyday, such as an engagement ring, is more
susceptible to damage or loss. "And because an engagement ring is often the
most expensive jewelry a woman will own, it makes sense to insure it,"
Adelmann said.
Roughly 25 percent of all Jewelers Mutual's personal jewelry claims are
submitted for engagement and wedding ring sets, and not all losses are total.
According to Adelmann, more than half of Jewelers Mutual claims are
partial losses. "Losing a stone from a ring is one of the more common losses
we see," Adelmann said. Winter gloves are notorious for catching on prongs and
loosening ring settings.
Diamonds are still the favorite stone for engagement rings and, contrary
to popular belief, "a sharp strike on a hard surface can easily chip a
diamond," Adelmann noted. Even washing dishes in a ceramic sink can cause
chipping.
Water sports are another culprit for loss. "Your fingers constrict when
they're cold, so losing a ring while swimming or snorkeling on your honeymoon
presents a very real risk," Adelmann warned. Any sporting activity, in fact,
can be hard on jewelry.
When insuring jewelry, check your coverage. On basic homeowners policies,
jewelry is protected for only certain causes of loss. Damaging an item, or
losing all or part of one, typically are not covered losses. Theft is often
limited to $1,000. You can "schedule" your jewelry on your homeowners policy.
It will cost an additional premium, but provide better coverage.
Keep in mind, however, that a jewelry loss may affect your homeowners
coverage. "Insurance companies may cancel your policy more quickly or increase
the premium for even small jewelry claims, especially when their overall
results are unfavorable," Adelmann said.
A stand-alone, specialized policy, such as the type that Jewelers Mutual
offers, provides broad coverage, and won't jeopardize your existing homeowners
policy if a jewelry loss occurs.
To learn more about how to protect your jewelry, visit
http://www.jewelersmutual.com .
Jewelers Mutual Insurance Company is the only nationwide insurer that
specializes in protecting jewelry businesses and individuals' personal
jewelry. The company was founded in 1913 in Neenah, Wis., by jewelers who
needed more affordable insurance. Today, Jewelers Mutual is licensed in all
50 states and insures $1.5 billion of individuals' jewelry and more than
10,000 jewelry businesses. The company's strong financial position is
reflected in its continued A+ rating from A.M. Best. Visit Jewelers Mutual's
web site at http://www.jewelersmutual.com .
SOURCE Jewelers Mutual Insurance Company
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Related links:
http://www.jewelersmutual.com
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20040203/JEWELERSLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Barb Kretsch of Jewelers Mutual Insurance
Company, +1-800-558-6411, ext. 2381
NOTE TO EDITORS: To arrange an interview with Tom Adelmann,
contact Barb Kretsch at 800-558-6411, ext. 2381.
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