Jewelry and Watch Insurance in the USA: Market Dynamics, Affinities and Partnerships

Jewelry and Watch Insurance in the USA: Market Dynamics, Affinities and Partnerships is a report, based in part on a survey of 135 retailers of jewelry and watches, investigating the market for jewelry and watch insurance in the US. Key features include: an outline of market drivers and the value and growth of the market from 2014 to 2018; quantification and commentary concerning the segmentation of policies in force by distribution channels used to buy them in 2018; estimates for underwriter market shares in 2018; a comprehensive listing of affinity and partnership marketing relationships visible at the time of the research in 2018 for this type of contract, including ones employing 'insurtech' with the aim of disrupting incumbent competitors; and forecasts for the value of the market up to 2022.

Moreover, all market value data, including the forecast, is segmented between the Midwest, Northeast, South and West so that the current magnitude and likely future direction of the opportunity is apparent for each region, and is provided in addition to the report, along with other supporting data, in an associated market data file.

In this report, jewelry and watch insurance is defined as stand-alone cover for jewelry and watches bought by consumers either at the point of sale or retrospectively. The main risks covered by stand-alone jewelry and watch insurance policies are accidental damage, loss and / or theft.

However, the report does not analyze cover for jewelry or watches acquired as part of household or renters insurance nor does it include cover bought by jewelers for their own business risks (jewelers block insurance). Moreover, extended warranty cover for jewelry and watches, including smartwatches, and protection / care plans, which cover maintenance and repairs but not loss or theft, also fall outside of the scope of this report. Also excluded are items of jewelry or watches covered by so-called ‘valuable items insurance’ because this type of cover is used habitually to cover collections of goods, with a principal focus on art and antiques, rather than specific items of jewelry or individual watches.

In keeping with 11 other studies in this series, research processes and sources used to create it include the following: primary interviews with leading brokers, underwriters and affinity / corporate partners active in this field; in-house data drawn from other Finaccord reports; and comprehensive analysis of secondary information from a diverse range of data sources including US government departments and financial regulators, relevant trade and other associations, specialist publications and published disclosures by competitors active in the market. All relevant workings, such as estimates for attachment rates within the target audience, are presented in a transparent manner.

For further information about this research, please access the table of contents and series prospectus by clicking on the corresponding links to the left-hand side of this page, or e-mail [email protected].

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