Geico's jewelry insurance is available through the GEICO Insurance Agency and offers peace of heart to customers who own high-end rings or other heirloom pieces. This coverage is provided by Jewelers Mutual Insurance Group. You can choose your own trusted jeweler to repair jewelry, make claims fast and easily, and get worldwide travel protection.
Some jewelry pieces may need more protection than what is provided by your homeowners or renters policy. GEICO recognizes that jewelry owners may need more specialized insurance.
GEICO’s jewelry coverage is a separate, standalone policy that covers all the value of a jewel or your entire collection. You don't need to pay a deductible or get an appraisal upfront. Generally, it costs between 1-2% of a piece's total value per year to cover.
Most homeowner and renters insurance policies cover damage or loss of jewelry up to an amount, which is typically $1,000-$5,000. It may not cover you against catastrophic events like losing jewelry in an earthquake or flood.
The best way to prevent having to pay for jewelry out-of-pocket is to purchase a special insurance policy. This will allow you to replace your most expensive pieces with items of similar value. You may have to spend a little extra every month but it will pay off in the end.
A good policy that covers all types of loss will also cover thefts and disappearances. This is important, as most losses fall into 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
GemShield is the provider with the easiest online application. It also has the fastest processing. You simply enter your ZIP code and the estimated value of your ring and choose a deductible between $0 and $1,000.
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. Your premium can be paid monthly or annually.
Lavalier
A jewelry insurance policy can be customized to meet your needs and risk tolerance. Limits range from $35,000 for each item up until $100,000. You can also insure jewelry that has an appraisal older than 18 months or a detailed receipt of value.
If you want to replace your jewelry, you can opt for a replacement-only policy. This will allow the insurer to repair or replace it with items of similar value. The latter can be a better choice for people who don't want to deal with the hassle of an appraisal or those with low-value jewelry.
If you want to add jewelry insurance to your homeowners' policy, you can purchase a separate policy. This policy won't affect your homeowner rates so it is a great option for those who want to insure their jewelry separately.