(PRESS RELEASE) NEENAH, WI – Jewelers Mutual Group, the insurer dedicated to protecting jewelry and jewelry businesses for over a century, has recently completed a comprehensive study that delves into the contents of the modern jewelry box. The study surveyed 1,500 respondents, revealing new insights into the habits and preferences of today’s jewelry owners.

Key findings from the study include:

• Diverse Ownership: Engagement and wedding rings are the most expensive and most common pieces of jewelry owned overall, with bridal consumers sharing the total average value for their ring is over $7,000. Beyond bridal, watches, necklaces and other rings are the most popular types of jewelry acquired within the past three years.
• Collection and Acquisition: Nearly 70% of respondents reported owning up to 10 pieces of fine jewelry. Half of respondents overall said they purchased the items for themselves, with others receiving jewelry as gifts or were inherited. “I have a ring that belonged to my great-grandmother,” said one respondent. “It serves as a tangible link to precious moments and loved ones.”
• Wear and Loss: 80% of respondents wear their fine jewelry, with most doing so at least 2-3 times per week, if not daily. Of those who do not, the top deterrents are that it does not match their personal style and concerns about jewelry being lost or not insured. Over half of respondents admitted to losing at least one piece in the past. “I lost a ring that my grandmother gave my mother. My mother was devastated, and I still feel guilty,” shared one respondent.
• Insurance Trends: Nearly half of respondents who insure their jewelry have it included in their homeowners or renters insurance policy. Those with engagement and wedding rings are significantly more likely to choose more comprehensive, specialized jewelry insurance compared to other jewelry owners.
• Storage Methods: Lockboxes and safes are the primary storage methods for jewelry, both at home and during travel. However, 32% of respondents admitted to lacking specific security measures for their jewelry.
• Emotional Ties: Love is the leading emotion associated with purchasing or receiving fine jewelry, followed by joy, for all respondents. “Jewelry is so much more than metal and stone,” said Krystle Craycraft, Senior Vice President of Marketing and Digital at Jewelers Mutual. “It connects people and their stories shared, accomplishments achieved, and their love for one another.”

For more information about the study and tips for making informed jewelry purchases, visit Jewelers Mutual’s blog here.

*The Jewelers Mutual study was conducted in April 2024 via an online survey through Qualtrics. A sample of 1,500 adults in the U.S. aged 20+ who own a piece of fine jewelry were recruited via an online research panel and surveyed via online self-completion.