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 love. Deep in love. Head-over-heels in love. You’re smitten. Awestruck. All of that…and more.

Because you’re so madly in love, you’re also in the market for something sparkly to signify and celebrate that love.

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 diamond engagement ring, a necklace for a special occasion, or some just-because diamond earrings, your pending purchase is more than just a transaction. Much more.

You’re about to make a big investment and purchase something that could potentially last for generations. You want to protect these treasures, in the best way possible. But just what is the best way to ensure such protection? 

Crossing your fingers and hoping for the best just won’t cut it. (Obviously.) You’ve probably done some Googling and come across quite a few things that cover either purchasing jewelry insurance or buying a warranty to protect your jewelry. And now, well, you’re just confused. Rest assured, here at Zillion, jewelry insurance is what we do and what we know. It’s in our DNA. You might even say it’s our passion. So please allow us to provide some insight…

Isn’t jewelry insurance the same thing as a warranty?

This is a common and easily understood question we hear at Zillion. At first glance, it’s easy to confuse engagement ring insurance or another jewelry insurance policy for a jewelry warranty and vice versa, but there are difference. In fact, there’s some significant (and potentially costly) differences. Not to worry: we’ve broken it down into easy-to-understand-and-digest terms — with no professional knowledge needed! That’s what Zillion is here for. 

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

A diamond is forever…until it’s not. We don’t hesitate to purchase car insurance, health insurance, and homeowners insurance, but for some reason (or reasons), quite a few people completely overlook one of their most delicate and prized possessions — their jewelry. Jewelry insurance exists to cover your valuable rings, necklaces, earrings, bracelets, and other items.

The best jewelry insurance policies, 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. And remember, the best jewelry insurance will cover just about everything, including:


In a perfect world, you wouldn’t need insurance to cover cases like theft. But the world isn’t perfect. Far from it. Some of the greatest stories ever told are tales of stolen jewelry, so we know this is a very real concern. If you purchase jewelry insurance and someone later nabs your prized piece or pieces, your policy will help replace your missing items.


Here’s another scenario. You’re on vacation, accidentally leave your diamond necklace on the hotel sink…and forget all about it until you get home and realize that it’s gone. Not good! However, if the necklace was purchased along with a jewelry insurance policy from a provider like Zillion, you can have it replaced. 


Or how about this one? You’re rearranging your living room and forget to take your wedding ring off. While moving a heavy table, you hit your ring against its side and do some real damage to the stone. There’s no need to worry if you’ve purchased a jewelry insurance policy — jewelry insurance will cover the cost of repairs, so your ring can look as good as new again. 

Force Majeure (Acts of God)

It can be devastating when things beyond your control (like fires, floods, tornadoes, and hurricanes) 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 happens to be covered by the best jewelry insurance, you can rest a little easier knowing that it can be replaced. 

2. Alright, so what’s a warranty?

diamond ring insurance

Now that you have a solid understanding of what jewelry insurance entails, let’s take a closer look at a warranty. A warranty is essentially an extended service plan that is offered by your jeweler. A jewelry warranty will cover 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 becomes damaged, stolen, or lost. Many people purchase warranties thinking their jewelry will be covered, but that’s usually not the case at all. 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 pieces. 

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 jewelry investment. This is especially true for something like engagement ring insurance. 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, investing in the best jewelry insurance available is well worth the investment — especially if you’d like to pass your rings, necklaces, and other expensive or even invaluable items down to future generations. Jewelry insurance represents a smart choice to protect these pieces and 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 jewelry insurance from Zillion. We make it easy to protect your jewelry with incredible policies that’ll give you peace of mind and let you wear it with confidence. 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 engagement ring insurance or any other 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.