Do you have cherished family heirlooms? A new engagement ring? A favorite pair of diamond studs? If so, you should make sure that you protect yourself and your belongings.
How do you protect them? First, insure it. And when you do, be mindful that partial losses, such as chipped stones, aren’t covered under typical homeowners policies. A better option is a rider on your homeowners policy.
Any jewelry that is worn everyday, such as an engagement ring, is more susceptible to damage or loss. And because an engagement ring is often the most expensive jewelry a woman will own, it makes sense to make sure it is insured.
More than half of the company’s claims are partial losses. Losing a stone from a ring is one of the more common instances. Winter gloves are notorious for catching on prongs and loosening ring settings.
Diamonds are still the favorite stone for engagement rings and, contrary to popular belief; a sharp strike on a hard surface can easily chip a diamond. Even washing dishes in a ceramic sink can cause chipping.
Water sports are another culprit for loss. Your fingers constrict when they’re cold, so losing a ring while swimming or snorkeling presents a very real risk. Any sporting activity, in fact, can be hard on jewelry.
When insuring jewelry, check your coverage. On basic homeowners policies, jewelry is protected for only certain causes of loss. Damaging an item, or losing all or part of one, typically are not covered losses. Theft is often limited to $1,000. You can “schedule” your jewelry on your homeowners policy. It will cost an additional premium, but provide better coverage.
A stand-alone, specialized policy, provides broad coverage, and won’t jeopardize your existing homeowners policy if a jewelry loss occurs.
We create an appraisal
We use the BriteCo platform to create an appraisal. When it is finalized, the details of the appraisal are sent to BriteCo, and a copy of your completed appraisal is sent directly to you.
BriteCo sends you a quote
Within moments, you’ll receive an email or text message from BriteCo offering you insurance, based on the appraisal values we entered.
You can purchase an insurance policy – instantly and easily
Once you click on the link from BriteCo, you’ll answer five quick underwriting questions on your smartphone or computer, and then you’ll see the exact price for the insurance. Simply enter your debit or credit card information to purchase your policy, and you’ll be covered immediately.
|Other Online Jewelry Insurance||Renters / Homeowners Insurance|
Instant Appraisal at Purchase
|Instant Policy to Purchase|
|125% of Appraisal Value||Appraisal Value||Capped as low as $1,000|
|Limited Impact of Claims on
|Gifts to Others at Separate Address|
|Authenticated Digital Appraisal|
|Free Annual Insurance Value Updates|
*Not applicable for agreed value policies
**Covers prong retipping; broken, worn or bent prongs; broken earring posts; clasp replacement; restringing of broken or stretched pearl strands; and stone tightening