Everywhere you go, everything you Buy, has some kind of Service Plan or Extended Warranty for that Product.
Jewelry is no Different!
But the Debate continues on, are Extended Service Plans, or Jewelry Protection Plans Worth it?
Or are they a Rip Off?
To Buy or not to Buy that is the Question.
Let’s find out…
“Do you Want the Service Plan?”
Some Jewelers will offer you an Extended Service Plan (E.S.P.) on your Jewelry while they’re Ringing you up. And if you’re like most people, you nod, wave your hand, and say “No Thanks!“
I mean, who ever uses Service Plans anyway? Aren’t they all the same? Isn’t it just another way for Jewelers to make money? It’s not like you’re buying a Car…
What could go wrong with Jewelry?
My personal belief is this: If the Product you’re Buying is a Good Product, and the company that makes that Product stands behind it, then I shouldn’t have to Purchase a Service Plan for it. Is my thinking wrong?
But are Jewelry Extended Service Plans really needed?
I will say right to your face without blinking an eye:
YES, Extended Service Plans are a very Important Purchase!
YES, you should buy them with your next Jewelry Purchase!
Yes, they are worth every Penny!
And I’ll tell you why…
Have you ever seen the Price of Jewelry Repairs?
Do you even realize how much Repairs Cost?
A Simple Ring Sizing could Cost you up to $50! Fifty Dollars for One Single Repair! Just a Cleaning and Polishing could Cost you another $15. Retipping Prongs, ha, they Cost about $15 a Prong. Yep, $15 for each and every Prong!
I Smell Hundreds of Dollars over the course of a lifetime just waiting to be lifted from your Wallet. Tightening Channels, Reshaping, do you realize how much money you’ll fork out for all of this?
So what do normal Extended Service Plans cover?
Extended Service Plans will Vary from Store to Store, but most Cover these Basic Repairs:
Ring Sizings, Refinishing and Polishing, Earring Repair, Chain Soldering, Labor and Parts required for Resetting Stones, Retipping, Bracelet Soldering, Restringing Pearls, Tightening Stones, Reshaping Rings, Rebuilding Prongs, Tightening Channels, Soldering Rings Together…
it covers almost everything that could happen to the mounting for a lifetime (or until the Warranty is good for, some are Lifetime, some are Yearly).
Keep in mind Normal Service Plans always have some Exclusions like:
Normal Wear and Tear, Rebuilding Shanks, Losing Gemstones or Diamonds.
It’s always a Good Idea to read the Service Plan over, so you know what is Covered and what isn’t!
How did that happen?
Think about how many times you Nick your Fingers or get Paper Cuts. How many times do you look down and see your hand is bleeding and you wonder to yourself, “How did that happen?“
Your hands take a lot of Punishment, and the Rings on your hands take even more! You’ll Bang your Rings and not even know it. They get Abused, Caught on Things, Prongs get Pulled Back, Channels Loosen up, Stones come out.
It’s just a Fact of Life!
Chances are very good that you’ll need to get your Rings Sized a couple times at some point in time.
You’ll probably want them Polished or Refurbished.
And the biggest expense of all is Retipping.
Retipping Prongs is adding Gold to your Prongs when they wear down.
Prongs wear down just like Tires on a Car. Usually about every 7 years or so you’ll have to have your Prongs Retipped.
If you run your fingers over the Top of your Stones and the Prongs are Flat and Smooth, then it’s past time for a Retipping! Get it Done! If not, you’ll Lose your Diamonds.
Retipping Prongs builds them up so they’re Strong and Durable and will keep holding your stones in.
So when it’s all said and done, you’re going to spend way more money in Repairs then the Service Plan Costs. $40 bucks here and there add up. I ask you, “Is it worth NOT having a Service Plan?”
Will everyone really use the Plan?
If I had to guess, I’d say Yes, most everyone will use the Jewelry Service Plan.
Repairs add up!
Sometime or another, you’ll need to go in and have some work done on your Rings.
It’s a given. Things Break, Scratch, Dent, Loosen, you’ll need it Repaired or Cleaned or something.
You wouldn’t want to have your Wedding Pictures taken with Scratched up Bands now would you? Plus, you’ll need the Wedding Rings Soldered together for the Wedding!
Don’t forget that!
It’s Worth Every Penny!
In my eyes, I would highly advise buying an Extended Service Plan for your Jewelry. Without a doubt, get it for all your Jewelry Purchases. I don’t care if that Service Plan runs you $200… Buy it! It will cover your Rings and always end up paying for itself. It’s worth every Cent.
Some Jewelers charge $25 for a Service Plan. Other places charge you more (A LOT MORE). Some Service Plan Prices depend on the amount of Purchase. The higher the ticket is, the more you’ll Pay for the Plan. Makes sense. But I’m telling you, you’ll need it and be glad you bought it.
I Write Repairs Endlessly. I see the Rings come in for Sizings Daily. (Women get Pregnant and still want to wear their Rings) I see Broken Prongs, Dented Rings, Smashed Shanks… you name it. If you paid for all these little Repairs separately, you’d pay a small fortune.
Good Only at the Time of Purchase!
Most Service Plans have to be Purchased at the time the jewelry is Purchased. It’s like Insurance, you can’t buy it later when you need the Repairs. Nope! The Damage is already done. Buy it when you Buy the Ring. I’ve never met anyone who’s ever Regretted buying an Extended Service Plan.
People will bring in Rings that need 15 Prongs Retipped (Normally $225), the Channels need Tightening (Normally $30), the Band needs Polished (Normally $15), and I’ll look at the Ring and ask them, “Do you have an Extended Service Plan?”
And the customers will Smile really Big and say:
“Yes! Yes we do!“