An “Insurance Value Adjustment" (listed as "IVA" on your policy) is a value-added service offered by Jewelers Mutual that is meant to help you avoid being underinsured if your jewelry ever rises in value. This service is available to policyholders who choose not to obtain an updated appraisal every two years.
The way it works is we apply an annual percentage *increase to your coverage limits based on an estimate of what it would cost to repair or replace your jewelry in today’s market.
While Jewelers Mutual does its best to determine the appropriate amount of coverage you may need in the event of a loss, it’s still possible it won’t be enough to cover the full replacement value of your item. In this unfortunate circumstance, you’d be responsible for paying the difference between your coverage limit and the actual repair or replacement value.
Therefore, we strongly encourage you to consult with your jeweler, even after an IVA is applied, to determine your item’s value. If you discover your coverage is inadequate, you can then take action to obtain an updated appraisal.
Once you have a new appraisal, it's easy to add to your policy. Simply upload it to your account here, or email us a copy at [email protected]. Our Customer Care Team will take it from there.
*Some states limit the amount of IVA we can add in a year.