Best Jewelry Insurance

Best Jewelry Insurance

Please Note: The above is meant as general information and as general policy descriptions to help you understand the different types of coverage. These descriptions do not refer to any specific contract of insurance and they do not modify any definitions expressly stated in any contracts of insurance. We encourage you to speak to your insurance representative and to read your policy contract to fully understand your coverages. If you choose to get an insurance quote online, you will be taken to the Jewelers Mutual Insurance Company Personal Jewelry Insurance website, which is owned by Jewelers Mutual Insurance Company, not GEICO. Any information that you provide directly to Jewelers Mutual on its website is subject to the privacy posted on their website, which you should read before proceeding. GEICO assumes no responsibility for the privacy practices or your use of their website. Jewelry Insurance is provided and underwritten by Jewelers Mutual Insurance Company, Neenah, Wisconsin and is secured through GEICO Insurance Agency, Inc. Coverage and pricing are subject to underwriting review and approval, and to policy terms and conditions.
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Best Jewelry Insurance

Jewelry can be some of the most valuable assets a consumer owns, so protecting it seems like a no-brainer. With coverage against scenarios like theft or mysterious disappearance, jewelry insurance can help you keep your valuables safe.Jewelry insurance is generally purchased as a part of your homeowners insurance or renters insurance. Though a basic amount is usually included as part of these insurance packages, it’s often wise to use stand-alone jewelry insurance as additional coverage.
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Best Jewelry Insurance

RentersPeople who don’t own a home usually have valuables at their rental property that would cost significant money to replace or repair.HomeownersHomeowners pay a mortgage or own their home. Because this is such a large and long-term purchase, homeowners are more likely to keep valuables such as heirlooms, individual jewelry items or a jewelry collection in their home.InvestorsStock certificates and bond coupons aren’t the only way to invest for the future. High-end jewelry and precious metals like gold and platinum can also provide you with a financial safety net, and the value may even rise over time.Engaged CouplesOne of those most important pieces of jewelry in any couples’ collection is the engagement ring. An expensive and sentimental piece, this can warrant its own insurance policy.CelebritiesMovie stars and celebrities often borrow expensive jewels to complement their red carpet attire or evening wear. The replacement value of these valuables often runs into the hundreds of thousands of dollars.Private CollectorsJewelry dealers or fine art collectors – well-known and anonymous – who prefer to show their collections only to friends or family may want to cover their unique collections.InstitutionsMuseums or royal family gems on public display – the British Crown Jewels or the Fabergé Imperial Eggs, for example – require special insurance coverage.BusinessesPeople in the business of selling, repairing or transporting jewelry.
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Best Jewelry Insurance

An average engagement ring costs nearly $6,000, and heirloom pieces and other kinds of jewelry could have significantly higher values. And while jewelry remains a top choice for thieves, most stolen jewelry is never recovered by law enforcement. What’s more, this valuable property is often not adequately covered under the theft victim’s homeowners or renters insurance, leaving huge out-of-pocket costs for replacing an item that is stolen, lost, or damaged. Here’s how to make sure you have enough jewelry insurance coverage for your treasures.
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Best Jewelry Insurance

We’re talking about your fine jewelry: your diamond engagement ring, the vintage Rolex Dad left you, the black-pearl necklace you picked up in Tahiti. Sure, you most likely have a comprehensive insurance policy covering your house and furnishings. But homeowners’ or renter’s insurance doesn’t automatically mean every item under your roof is insured (if you’re a renter, you know of course that your belongings are not covered by the property owner’s insurance. See 6 Good Reasons To Get Renter’s Insurance).
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Best Jewelry Insurance

Lavalier operates out of Burlingame, California. The company partners with Markel American Insurance Company as its underwriter and specializes in jewelry insurance only. Lavalier publishes a blog dedicated to new jewelry trends, gift ideas and choosing jewelry.
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Best Jewelry Insurance

While your jewelry may include some of your most precious possessions, it is not difficult to insure. Typically, you will add coverage for your engagement ring or other jewelry to an existing homeowners or renters insurance policy. As you add valuable items to an existing policy, you want to make sure your insurance company is still the best one for your needs.
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Best Jewelry Insurance

Cyril Tuohy, has covered the insurance industry for more than 15 years. He is an expert at writing about personal and commercial property-casualty insurance and covers life, annuities and retirement as a staff writer for a top insurance trade magazine aimed at insurance agents and financial advisors.
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Cyril TuohyInsurance Contributing EditorGo to our Google plus pageGo to our Linkedin pageCyril Tuohy, has covered the insurance industry for more than 15 years. He is an expert at writing about personal and commercial property-casualty insurance and covers life, annuities and retirement as a staff writer for a top insurance trade magazine aimed at insurance agents and financial advisors. Want your company to be on this guide?
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Cyril TuohyInsurance Contributing EditorGo to our Google plus pageGo to our Linkedin pageCyril Tuohy, has covered the insurance industry for more than 15 years. He is an expert at writing about personal and commercial property-casualty insurance and covers life, annuities and retirement as a staff writer for a top insurance trade magazine aimed at insurance agents and financial advisors.
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Think of a jewelry insurance policy like your homeowners or car insurance. It is created specifically to protect your beloved jewelry from the unexpected – like loss, theft, or damage.
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At USAA, for example, a typical homeowners’ policy covers jewelry lost to fire or theft, but not to accidental damage or loss. The coverage limit for jewelry is $10,000 (no per-item limit) and is subject to the policy deductible (the amount you’ll have to pay before insurance coverage kicks in). For more jewelry coverage, a separate policy is necessary.
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If you don’t have a renters or homeowners policy, there’s an alternative way to insure your ring. Certain insurance companies offer policies through jewelers on individual pieces—just ask your jeweler if they work with an insurance company to offer ring insurance. These kinds of policies can vary widely company by company (usually a jeweler will offer a policy that’s underwritten by smaller company), so ask specific questions about the level of coverage provided.
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There are more than a few ways to insure your engagement ring. You can choose to purhcase it as an extension (also called a “rider”) for your renters or homeowners policy. While most renters and homeowners policies cover items inside your home, they only do so up to a certain dollar value. Expensive or sentimental items, like engagement rings, art and even electronics, are guaranteed through scheduled personal property coverage—an insurance policy extension that covers specific items. Another option is to insure your ring through a company that specializes in jewelry insurance, which might offer more coverage than a standard homeowners policy, like replacing a lost or stolen ring rather than paying a set amount of cash.
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Most insurance providers offer discounts to customers who purchase multiple policies. If you purchase your home, auto, life and property insurance from a single provider, you are likely to get a better deal overall (see Making Sure Your Jewelry Is Insured).
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Jewelry can be some of the most valuable assets a consumer owns, so protecting it seems like a no-brainer. With coverage against scenarios like theft or mysterious disappearance, jewelry insurance can help you keep your valuables safe.
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According to the FBI, only 4% of jewelry is recovered after being reported stolen. The bottom line: If your ring is stolen, you are not likely to get it back. You need insurance coverage that helps you replace a stolen, lost, or damaged engagement ring and other jewelry without extensive out-of-pocket costs.
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What’s more, most standard homeowners and renters insurance policies only provide jewelry coverage in response to certain “covered perils,” or causes of loss. Most do not cover jewelry for damage (e.g., bent prong and lost stone), or accidental loss (e.g., your ring is lost while swimming).
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An average engagement ring costs nearly $6,000, and heirloom pieces and other kinds of jewelry could have significantly higher values. And while jewelry remains a top choice for thieves, most stolen jewelry is never recovered by law enforcement.
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What’s required, if you have substantial assets of this type, is additional insurance. Known as a rider or, more specifically, a floater (which targets small, moveable items), it takes over when traditional insurance coverage ends, and typically covers the insured item against fire, loss, theft or damage.
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Call us at 532-5433 to make changes to your life insurance policy. Helpful life insurance agents, who can assist you in servicing your policy, are just a phone call away. Read more
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Based in Burlingame, CA, Lavalier provides worldwide jewelry insurance cover against loss, damage, theft and mysterious disappearance. Customers can customize their coverage limits and deductibles to fit their needs and budget.

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