If you need assistance, you’ll have to email or call the company during business hours, Monday through Friday from 9 a.m. However, you aren’t able to manage your policy, make changes, or file claims online. To get a quote from GemShield, you can visit the website. GemShield allows you to insure newly purchased jewelry, but it also must be appraised. One important thing to know about GemShield is that appraisals are required for every item that is valued at $5,000 or more, and the appraisal must have been done in the last 18 months. However, you can get higher coverage limits depending on the item and its value. The maximum policy limit is $100,000, with up to $35,000 for any single piece of jewelry. Most policies cost between 1% and 2% of the item’s value, and there’s a $20 minimum premium. GemShield’s policies are underwritten by Berkley Asset Protection, a division of Berkley National Insurance Company. It also helps cover the cost of repairs and replacements. We recommend GemShield for accidental coverage, because policies are underwritten on an all-risk basis and cover your items from most causes of loss, including theft and disappearance. If you wear fine jewelry on a daily basis, accidents can happen. The biggest downside of BriteCo is that you have to appraise your items to purchase insurance. Most policies cost between 0.5% and 1.5% of the item’s value, and you have the option to pay monthly or annually. If you’re looking for an affordable premium, BriteCo is also a good option. There’s also a live chat feature if you have questions about purchasing a policy. You can get an instant rate quote and file claims right from the website. Note that BriteCo operates entirely online. If something happens to your ring, BriteCo will provide up to 125% of the appraised value to replace it. That includes things like stone tightening, prong re-tipping, and replacing broken, worn, and bent ring prongs. One of the most unique features of BriteCo is that the company covers preventive maintenance and repairs for wedding rings specifically. Whether you want to insure a diamond engagement ring or a platinum wedding band, BriteCo offers flexible coverage for common perils, like damage, theft, and loss, with zero deductible. Additionally, the company doesn’t include any information online about how much its policies typically cost.īriteCo is our top recommendation for wedding jewelry insurance. There aren’t many downsides to Chubb, but it’s worth noting that you have to work with an agent to get a quote and purchase a policy. Plus, new pieces are automatically covered for up to 90 days if you already have a policy. The company offers scheduled policies that cover one item, as well as blanket policies that cover multiple pieces. Appraisals are only required if your individual pieces are worth $100,000 or more.Ĭhubb jewelry insurance is also a good option if you have both heirlooms and new fine jewelry pieces in your collection. Additionally, your items are covered at their agreed value, and you’ll get 100% of the amount as a cash settlement if you experience a loss. Not only does the company offer high coverage limits and no required deductible, but every policy comes with unique protection that can be beneficial for older pieces that have been passed down for generations.Įvery Chubb jewelry insurance policy includes market increase protection, so if your heirloom pieces gain value, Chubb will pay up to 150% of the new value in the event of a claim. If you own heirloom jewelry, Chubb is your best option for jewelry insurance. Additionally, the company doesn’t offer 24/7 customer service, but you can file a claim any time through the online customer portal. One of the downsides to Jewelers Mutual is that the company doesn’t offer free appraisals, but you don’t need one in order to purchase insurance. We also like that Jewelers Mutual offers $0 deductible policies. You can get a quote online to see what you will pay based on the value of your jewelry and set your own coverage limits. The annual cost of coverage is typically 1% to 2% of the item’s value. Overall, insurance from Jewelers Mutual is affordable. Jewelry is covered worldwide and during travel. Every piece is covered on an all-risk basis and is protected against losses like theft, mysterious disappearance, and damage, including damage from floods and earthquakes. In addition, we were impressed by Jewelers Mutual’s coverage. Jewelers Mutual has been in business since 1913 and is backed by leading organizations, like the American Gem Society and Jewelers of America. We chose Jewelers Mutual as the best jewelry insurance company overall because the company has a strong reputation in the industry.
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