Although, to be fair, anyone who owns a 12.5 carat diamond ring, probably lives in a home that is already on the target list for thieves.
A 12.5 carat diamond? Really? That is HUGE. I don’t have any places to hid a jewel that large…and I would never wear it.
Under the radar. You always want to be under the radar. This is based on knowing wealthy families who received kidnapping threats - whose grown children / grandchildren were targets.
The guy is a reasonably well known St Louis entrepreneur. Maybe thieves know that. But now they know he has a small item worth $400,000 at home. It’s as dumb as advertising that one has an art collection or some such. There are enough affluent homes for thieves to target: don’t call attention to a particularly lavish lifestyle or collection.
Jewelers’ Mutual. Their only business is jewelry. And while insuring all your jewelry may be prohibitive cost wise you have to make choices.
Sorry…but if you have jewels that are THAT valuable, you should be able to afford insurance for them.
What would be the benefit of this Jewelers Mutual versus just a jewelry rider on a typical home insurance policy? What’s the point that “their only business is jewelry” - either way, if I suffer a loss, what’s the difference whether it gets paid out by State Farm/whoever or Jewelers Mutual? Either way, I had appraisals and insured for $x.
A 12.5 carat diamond? Doesn’t a diamond that size need it’s OWN room??!
I second Jewelers Mutual. Switched to them after losing a diamond necklace that was covered by the jewelry rider on our homeowner’s policy. The homeowner’s insurer wanted to turn it over to a wholesale jewelry company to try to get something “similar” to the original piece. I didn’t feel like I was getting the quality of the original so had my jeweler start dealing with the adjuster. After much haggling, I got what I wanted but it wasn’t easy. From that point on, I have only used Jewelers Mutual because they deal directly with your personal jeweler, and in fact are the insurer for most jewelry stores. I have had a few small claims for things like chipped/broken stones in rings and JM has quickly approved everything and paid the jeweler directly. I wince when I get the premium notice, but I have no worries at all about having my jewelry in my house or wearing it anywhere I want.
My guess is Jewelers Mutual premiums exceed the value of my jewelry.
We had a claim for a lost stone steeled very quickly by our homeowners, with a rider in place for the piece of jewelry. No middle man, no problem. Our insurer had. Recent appraisal of the pice including mapping of the stone. This had been provided to the company. They never even mentioned any wholesalers or anything else. They paid the insured replacement value for the stone. The rider is about $25 a year. I carry two for two different pieces of jewelry…so I get a group rate…it’s about $40 extra per year for replacement coverage.
How much does this Jewelers Mutual premium run? Is it per appraised piece?
I’m not fortunate enough to have a personal jeweler 
Ok…$0 deductible which is what I currently have for my two pieces…for $40 a year…rider on my homeowners…would be $113 a year with Jewelers Mutual.
And like I said…previous claim settled with no issues…for full replacement value.
So why would I switch?
If they wanted to publicly thank the waste hauling company and staff for their help in recovering the ring that would make sense. Letting the newspaper print their names, their pictures and a picture of the ring is getting out on the ledge a bit. Does she wear that thing out to lunch? Anyway, for all of you that use there insurance company, good news. One claim that didn’t need to be paid.
I really did not find that ring to be appealing I’ll just keep my $500k
ACK!!! Their, not there! and I just missed the edit window!
If I had a 12.5 carat diamond, I reasonably confident I wouldn’t be washing dishes…I would rather have a smaller diamond and continue to wash my own …and my nails look like I do my own cleaning
I was really surprised by my experience the one time I filed a claim for lost jewelry under a rider. I had lost one diamond earring and a necklace so decided to file. We have AAA and have been with them for about 30 years (this was maybe 10 years ago and, other than a leak in the house some years earlier, had never filed a claim). A requirement of obtaining the rider had been to submit appraisals which are based on, as expected, the appraised value rather than anything approximating the actual cost. The claim was easy to file (no police report, etc.) and then I received two checks quite quickly for the appraised value of the two items. I was blown away. Cost much less to replace the items than I received (so I upgraded 
). Haven’t filed a claim since and would never commit insurance fraud but it seemed way too easy to me. I’m not sure how my premium compares but we have been very happy with AAA, not just with regard to this incident but over the 30 years with auto, etc.
I had something similar with State Farm a few years ago when I lost a diamond earring. Got a check for the replacement value and was actually able to upgrade the set.
Anyone know if homeowner’s insurance rates go up after a jewelry rider claim?
We had a burglary and had a lot of jewelry taken (it was in drawer, not safety deposit box). We made a claim and insurer waived the deductible and paid the max for stolen jewelry, even tho we had no appraisals). We had no increase in premium. It was decades ago, so no idea if things have changed. It was a small local company.