Geico jewelry insurance, available through its GEICO Insurance Agency, provides rock-solid peace of mind for customers with high-end rings and other heirloom items. This coverage from Jewelers Mutual Insurance Group offers flexibility when it comes to choosing your own trusted jewelry repairer, filing claims quickly, travel protection worldwide, and more.
Some jewelry pieces may need more protection than what is provided by your homeowners or renters policy. GEICO realizes that some jewelers and jewelry wearers may require a more specialized policy.
GEICO jewelry insurance provides coverage for the total value of a particular piece or collection. No deductible is required and no appraisal must be done up front. In general, the cost of this coverage is about 1-2% per year.
Most homeowner and renters insurance policies cover damage or loss of jewelry up to an amount, which is typically $1,000-$5,000. However, this may not provide enough protection against a catastrophic loss of jewelry due to a natural disaster or flood.
The best option to avoid paying out of pocket to replace jewelry is by investing in a policy that covers similar items. This may mean paying a little bit more every month, but in the end you will save a great deal.
A good policy that covers all types of loss will also cover thefts and disappearances. This is vital, since most losses fall in this category.
Consider a policy that covers jewelry. Learn what it includes, how much it will cost, and how it works. It's now time to compare quotes and find the best insurer for your needs.
GemShield
Out of the providers we reviewed, GemShield has the simplest online application and the fastest processing. You enter your ZIP Code and the estimated value for your ring, and then choose between $0 and $1000 as your deductible.
BriteCo
BriteCo's jewelry insurance is available with a rating of A+ from AM Best, and has received excellent reviews across sites such as Google and Facebook. There are no upfront appraisal or deductibles required. You can pay for your monthly premium or annually.
Lavalier
In order to suit your coverage requirements and risk tolerance, you may choose from a range of jewelry insurance policies with limits between $35,000 and $100,000. You can also insure jewelry that has an appraisal older than 18 months or a detailed receipt of value.
You can choose a policy that only covers replacements, which will replace or repair your jewelry with an item of comparable value. It is better to choose the latter if you don't have high-value jewelry or if you do not want an appraisal.
It is also possible to buy a standalone policy which offers jewelry coverage in addition to the homeowners insurance. This policy type will not impact your homeowners insurance rates. Therefore, it is an excellent option for those who wish to insure their jewelry separately.