Jewelers Mutual Insurance Company is first jewelry insurer to announce coverage for smart jewelry; prepares for holiday gift-giving
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The news comes at a perfect time as early forecasts indicate the upcoming holiday season will be big for smart jewelry sales, particularly smartwatches. Nearly two-thirds of smartwatches were purchased during the holiday season last year, and according to information published by Watchreport.com, more than 40 percent of smartwatches are purchased as gifts. "With Christmas less than six months away, consumers are eyeing up the latest in wearable tech to add to their wish list," said
Jewelers Mutual provides worldwide coverage for all jewelry—from engagement rings, wedding bands and watches to cufflinks and loose stones being set—protecting against accidental loss, theft, damage and even mysterious disappearance. However, smart jewelry coverage includes a data exclusion clause, which means that software and information stored on a smart jewelry device is not protected. The coverage also does not protect against smart jewelry becoming obsolete.
As indicated on Watchreport.com, the percentage of U.S. households that plan to buy a smartwatch has grown from 8% last year to 9% this year. "As we anticipate increased sales this holiday season, we want to make sure each recipient of smart jewelry is aware of Jewelers Mutual," said Woldt. "We understand how financially devastating it is to lose such an investment and what it takes to repair or replace it."
Jewelers Mutual covers various brands and styles of smart jewelry including products by Apple®, Bulgari®, Cuff,
"Consumers want to know if they're going to put
As Jewelers Mutual looks ahead, Woldt agreed that differentiation is essential. "We continue to listen closely to our customers and monitor emerging lifestyle trends and innovations as it relates to jewelry. It's important for us to deliver the experience our jewelry-loving customers' desire and delight them every chance we get."
To learn more about Jewelers Mutual's coverage of smart jewelry, please visit their award-winning Jewelry Box Blog (http://info.jewelersmutual.com/the-jewelry-box/how-to-protect-your-smart-jewelry) and subscribe for the latest jewelry news, trends and tips (http://info.jewelersmutual.com/subscribe-to-the-jewelry-box-blog).
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