Frequently Asked Questions
Can I review a sample Luxsurance policy?
Review a sample policy that gives details specific situations covered, what to do if you lose jewelry, and how the claims process is settled. The jewelry insurance policy is underwritten by a member insurer of the Jewelers Mutual® Group – the jewelry insurance experts who have been insuring jewelry and only jewelry for over 100 years.
What determines the policy limit?
The information and documentation you provide, such as an appraisal or detailed receipt. The value listed on your jewelry’s documentation is the maximum amount we will pay your jeweler to repair or replace your item. If replacing your jewelry costs more than you have it insured for, the difference is your responsibility. Make sure to keep your values up to date.
Does a homeowners' insurance rider not cover everything?
This will depend on your exact policy. A rider can still leave out coverage for disappearance, one of the most common causes of jewelry loss. Most insurance riders also offer:
- Peace of mind that a claim won't affect the coverage on your house and everything in it
- The assurance to work with your trusted jeweler, experts who know jewelry and you prefer to work with through the process
What is a deductible and how much will it be?
A deductible is what you pay before your insurance company replaces your item and completes your claim. If you decide on jewelry insurance through us, you choose your own deductible, with a $0 option. Each time you file a claim, regardless of the type, you pay your deductible in full directly to your jeweler. If multiple insured items are lost or stolen at once, you pay only one deductible, whichever is highest.
What is a Premium?
The cost paid to maintain insurance coverage, typically annually.
Where do I find a professional appraiser?
We accept current appraisals or evaluations from any appraiser. We recommend you refer to the American Gem Society or the National Association of Jewelry Appraisers for a list of appraisers by state. These two organizations have their appraisers trained in jewelry appraising.
Is my jewelry worth insuring?
You should ask yourself this: If your piece was ever lost, broken or stolen, would you be upset or unable to pay for a replacement? If the answer is yes, then it’s valuable enough to insure. You can get a free quote to see the cost of peace of mind that comes from knowing your precious jewelry is protected.
Is there anything else needed after my jewelry is insured?
No, it is all done. As long as you have provided Luxsurance with any necessary documentation requested, like a current appraisal or detailed sales receipt, and your premium is paid, your coverage has started. Thirty days before your policy expires you’ll be reminded about renewing.
How soon after damage or a loss should I submit a claim?
As soon as possible, however, in case of mysterious disappearance, it’s reasonable to wait a few days and search for the item first. If it turns up after you open a claim, we can always close it.
What proof is needed for a claim?
Documentation (store receipt, appraisal or dated photo of the jewelry) proving the jewelry is yours, a statement from everyone listed on the policy explaining what happened (including a list of damage if your jewelry wasn’t lost or stolen entirely), and in certain circumstances, a police report. Your claims representative will let you know if anything additional is needed for your specific situation.
How long does a claim take to be settled?
Every effort made to handle your claim quickly, professionally, and personally, and work with your trusted jeweler to get your jewelry restored to you as soon as possible. As soon as something happens, file a claim online or give us a call.
What if I find my jewelry after making a claim?
If you haven’t received your repair or replacement yet, let us know and we’ll close your claim. If you already have your new jewelry, return either the original or the replacement to us.
What if the jeweler can't find the same stone I had?
Your jeweler will be authorized to replace your insured item with the same kind and quality. If the exact match is not available, every attempt will be made to find a comparable piece. Before your jeweler completes the work, you must approve all repairs or replacements.
Can I upgrade?
Yes, if your item needs to be entirely replaced rather than repaired. Choose something different of equal value, or pay the difference if you want something more expensive. If you choose a more expensive replacement piece, the jeweler can invoice us for the cost to replace what you had (up to the amount you insured it for), and you would pay the rest.
How can I cancel my policy?
To cancel your existing policy, please call 1-833-419-0128.
How do I submit an appraisal?
You can log in to your online account, email [email protected], fax it to 920-969-1294 or mail it to Jewelers Mutual Group, 24 Jewelers Park Dr., P.O. Box 468, Neenah, WI 54957-0468. If you choose email, fax or mail, please reference your account or policy number, which can be found on any policy documents.