Jewelry Insurance vs. Warranties – what’s the difference?

So you’re in the market for something sparkly. Congratulations! Maybe you’re planning to propose, upgrade your wedding rings to celebrate...

So you’re in the market for something sparkly. Congratulations! Maybe you’re planning to propose, upgrade your wedding rings to celebrate your anniversary, or just looking to get yourself something special. Whether it’s a brand-new engagement ring, a necklace for a special occasion, or some just-because diamond earrings, your pending purchase is more than just a transaction. You’re about to make a big investment and buy something that could potentially last for generations. You want to protect these treasures, but what’s the best way to do it?

Crossing your fingers and hoping for the best just won’t cut it. (Obviously.) You’ve probably done some Googling and have seen a lot of things about either insuring your jewelry or purchasing a warranty. And now, well, you’re just confused, because…

Isn’t an insurance policy the same thing as a warranty?

At first glance, it’s easy to confuse a jewelry insurance policy for a jewelry warranty and vice versa, but there are significant differences. Not to worry: we’ve broken it down into easy-to-understand terms. No professional knowledge needed!

1. What is jewelry insurance and why do I need it?

A diamond is forever… until it’s not. You buy car insurance, health insurance, and homeowners insurance, but a lot of people completely overlook one of their most delicate possessions—their jewelry. Jewelry insurance exists to cover your valuable rings, necklaces, earrings, bracelets, and other items.

A great jewelry insurance policy, like the one we offer, covers your engagement ring, diamond earrings, and other important accessories—so when it comes to your jewelry, you can wear it with confidence. Let’s look at some of the major things that jewelry insurance covers.


In a perfect world, you wouldn’t need insurance to cover cases like theft. Unfortunately, jewelry does get stolen, so it’s important to have coverage if it does. If you purchase insurance for your new jewelry and someone nabs it, your policy will help replace your items.


You’re on vacation, accidentally leave your diamond necklace on the hotel sink… and forget about it until you get home and realize that it’s gone. If the necklace was purchased with an insurance policy, you can have it replaced.


You’re rearranging your living room and forget to take your wedding rings off. While moving a heavy table, you hit your ring against the side and damage the stone. There’s no need to worry if you’ve purchased an insurance policy—it’ll cover the cost of repairs so your ring can look as good as new.

Force Majeure (Acts of God)

It can be devastating when things beyond your control (fire, flood, tornado, hurricane) cause damage to or result in the loss of beloved items. Losing a piece of jewelry that’s important to you can add insult to injury, but if that item is covered by insurance, you can rest a little easier knowing that it can be replaced.

2. Alright, so what’s a warranty?

diamond ring insurance

A warranty is an extended service plan that your jeweler offers. A jewelry warranty covers minor wear and tear that happens to a piece of jewelry after you’ve had it for a while. Warranties typically cover issues like small scratches, prong replacement and retipping; as well as preventative maintenance like diamond/stone tightening, cleaning, or buffing out minor scratches or scuffs that come from wearing your jewelry every day.

Keep in mind, warranties do not typically protect and replace your jewelry if it is damaged, stolen, or lost. Many people purchase warranties thinking their jewelry will be covered, but that’s usually not the case. This is not to say that a warranty is a bad thing to have! For what they cover, jewelry warranties are a good option to consider when buying new jewelry.

3. OK, lay it on me: which do I really need, jewelry insurance or a jewelry warranty?

engagement ring

Like any important and expensive purchase, it’s wise to buy an insurance policy to protect your investment. Think of it this way: would you rather spend a little money out of pocket to resize your ring, or spend thousands to replace it?

If your wedding and engagement rings get stolen and you’re able to drop $10,000 to buy new ones, a jewelry insurance policy might not be worth the money. (Also, are you Beyoncé?)

For the rest of us who are decidedly not Beyoncé, covering your jewelry with an insurance plan is worth the investment—especially if you’d like to pass your rings, necklaces, and other precious or expensive items down to future generations. It’s a smart choice to protect these pieces to ensure they stay beautiful for years to come.

And while it’s true that the financial impact of having to replace an expensive piece of jewelry can be significant, your valuable items are more than just dollar signs. That engagement ring is a promise. Your anniversary earrings are symbols of your love and commitment. Insuring these treasured possessions makes financial sense, but knowing that your jewelry can be replaced— exactly as it was—is truly priceless. From the stone quality to the setting; from special engravings to your exact ring size, a jewelry insurance policy will replace your jewelry, detail-for-detail, the way it was before it was lost, stolen, or damaged.

If you’re in the market for a beautiful new piece of jewelry, consider covering your item with a jewelry insurance policy. We make it easy to protect your jewelry with incredible policies that’ll give you peace of mind. Shop now for your beautiful new engagement ring, earrings, or other accessory—each item purchased with our online retail partner comes with the option to add on jewelry insurance coverage at an unbeatable price.

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Zillion partners with jewelers to offer their customers lower rates on jewelery insurance. If you don’t see your jeweler on our list, we’re sorry, we won’t be able to offer you a quote for insurance.