I looked down at my hand during dinner and my heart stopped. The 2-carat oval diamond was gone. The setting was there, but the prongs were bent back. I retraced my steps for hours—nothing. I filed a claim. The insurance adjuster asked for my last “inspection record.” Because I hadn’t had the prongs checked in 3 years, they flagged the claim for “Wear and Tear / Maintenance Neglect.”
Key Takeaways
- Prong Failure is “Wear and Tear”: Gold is soft. Prongs wear down. If a stone falls out because the prongs wore thin over 10 years, insurers argue this is a maintenance issue (excluded), not an accident.
- The “Accident” Loophole: To get coverage, you often need to tie the loss to a specific event. “I banged my hand on the car door, and the stone flew out.” That is an accident. “It just fell out” is wear and tear.
- Inspection Warranties: Some policies require you to have the ring inspected by a jeweler every 12-24 months. If you miss an inspection, coverage for stone loss is void.
- Manufacturer Warranty: Most retailer warranties (Kay, Jared, etc.) cover diamond loss if you followed their strict 6-month inspection schedule. Insurance is the backup.
The “Why” (The Trap)
The trap is “Gradual Deterioration.”
Insurance covers sudden, fortuitous events. It does not cover the inevitable wearing down of metal.
If you simply say “I noticed it was gone,” the adjuster assumes the prongs failed due to age.
However, specialized jewelry policies (like JM) usually cover stone loss even from wear, unless they can prove gross negligence. Standard homeowner riders are stricter on the “peril” definition.
The Investigation (My Analysis of 3 Carriers)
I checked the fine print on “Partial Loss.”
Jewelers Mutual
- The Verdict: Very forgiving.
- The Policy: They typically cover stone loss, even if you can’t pinpoint the moment it happened. They cover repairs to the prongs as part of the claim to reset the new stone.
BriteCo
- The Verdict: Good, but watch the preventive maintenance clauses.
- The Tech: They encourage annual checkups. Their policy is generally “All Risk,” covering stone loss.
Zales / Kay (Extended Service Plan)
- The Verdict: Not Insurance.
- The Trap: This is a warranty. If you missed your 6-month inspection by one day, they deny the replacement diamond. Do not rely on this alone.
[IMAGE: Macro photo of a ring setting with one prong bent outward and the center stone missing]
Comparison Table
| Feature | Jewelry Insurance (JM/BriteCo) | Store Warranty | Homeowners Rider |
| Covers Stone Loss | Yes | Yes (Conditional) | Maybe |
| Inspection Required? | Encouraged (Sometimes required) | Mandatory (Strict) | No |
| Wear & Tear? | Often Covered | Covered | Often Excluded |
| Replacement Quality | Same Kind & Quality | Store Stock | Cash Limit |
Step-by-Step Action Plan
- Check the Setting: Look at the prongs. Are they bent (trauma) or worn thin (age)?
- Recall the “Event”: Did you hit your hand recently? Report that event. “I struck my hand on a doorframe at 2 PM. I noticed the stone missing at 4 PM.”
- Find Your Inspection Logs: If you have them, scan them. This proves you were responsible.
- Go to Your Jeweler: They can analyze the metal breaks. A “clean break” suggests impact. “Thinning” suggests wear. The jeweler’s report matters to the adjuster.
FAQ
Does insurance pay to retip the prongs?
If it’s part of a loss claim (replacing the stone), yes. If you just go in for maintenance, no. That is upkeep.
What if I find the diamond later?
You must notify the insurer. You usually send the payout back, or they let you keep the diamond and you pay for resetting (case by case).
Is the replacement diamond the same quality?
Specialist insurers promise “Same Kind and Quality.” If you had a VVS1, you get a VVS1.