Jewelers Mutual Insurance Company is first jewelry insurer to announce coverage for smart jewelry; prepares for holiday gift-giving

NEENAH, Wis., Aug. 3, 2015 /PRNewswire-iReach/ -- In response to rising interest from smart jewelry owners looking to protect their investments and the anticipated growth in holiday gift-giving of wearable technology, Jewelers Mutual Insurance Company announces its coverage of smart jewelry as part of its repair or replacement policy. As the only insurer dedicated exclusively to jewelry insurance for more than 100 years, Jewelers Mutual covers smart jewelry with the same worldwide protection it offers for traditional jewelry.

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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 Trina Woldt, Chief Marketing Officer at Jewelers Mutual. "Unfortunately, smart jewelry owners don't have many options for protection. Covering smart jewelry with the same detail we apply to all jewelry is a natural fit."

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, Fredrique Constant^™, MICA (by Intel^®), Ringly, Swarovski^®, and TAG Heuer^®, just to name a few.

"Consumers want to know if they're going to put $500, $1000, or even $10,000 or more into the accessory of their dreams that they're going to get the best protection possible," said Woldt. "Anytime you're dealing with a piece of jewelry that you take on and off regularly, it's susceptible to loss, theft and damage. Our customers take great comfort in knowing that if they lose or damage their jewelry, they're able to visit the jewelry retailer or company of their choice for a repair or replacement of the same kind and quality as the original, smart jewelry included. It gives people freedom to wear their jewelry without worry."

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).

ABOUT JEWELERS MUTUAL INSURANCE COMPANY
Jewelers Mutual Insurance Company, the only insurer dedicated solely to serving the jewelry industry in the United States and Canada, was founded in 1913 by a group of Wisconsin jewelers to meet their unique insurance needs. Today, Jewelers Mutual remains the trusted insurance advisor and loss prevention expert for nearly 10,000 jewelry business locations including retailers large and small, wholesalers, manufacturers, custom designers and appraisers. More than 300,000 consumers trust Jewelers Mutual to protect their personal jewelry. The company's strong financial position is reflected in its 28 consecutive ratings of "A+ Superior" from A.M. Best Company and more than $14 billion of jewelry coverage in force. To learn more, visit JewelersMutual.com.

© 2015 Jewelers Mutual Insurance Company

Media Contact: Jessica VandenHouten, Jewelers Mutual Insurance Company, 9205212374, [email protected]

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SOURCE Jewelers Mutual Insurance Company