Chubb offers an agreed value feature that promises the cash value of your settlement will be an amount declared ahead of time. Chubb has also been in business in some capacity since , so they have incredible longevity within the world of property and jewelry insurance.
Chubb Valuables Insurance works for jewelry and other expensive items you own and want to protect. You will likely want to get an appraisal for your jewelry ahead of time if you want to ensure you receive your item's full value. Jewelry insurance policies from Chubb can also be purchased with no deductible. One major downside of Chubb is that you need to work with an independent agent to get a quote for your policy. That makes it considerably more difficult to shop around and compare pricing from more than one provider.
The cost of their policies falls in line with others in our ranking. GemShield is best for new jewelry because they don't require an appraisal for newly purchased pieces and will insure jewelry based on receipts. GemShield offers automatic coverage for new jewelry but also covers other pieces. Another benefit of GemShield is the fact that you can use your own jeweler for replacement or repairs. You can also tailor your coverage to your needs, including the option of no deductible. With a positive reputation and years of industry experience, GEICO offers multiple types of insurance policies with bundling discounts.
While GEICO and its gecko mascot may only come to mind when you think of auto insurance , this provider also offers insurance for individual jewelry pieces. Fortunately, this is yet another provider you can count on and trust. Consumers may be eligible for discounts when bundling policies together. When it comes to jewelry insurance, GEICO lets consumers apply for a free quote online and get coverage in a matter of minutes. With that in mind, you should get an appraisal for all jewelry you plan to buy insurance for.
All of the companies that made our list of best jewelry insurance companies are reputable with longstanding industry histories. Some companies are known for their high maximum policy limits, others cover jewelry around the world, and others specialize in insuring new pieces.
However, we recommend checking out Jewelers Mutual Insurance Group. The company offers plans that cover your jewelry during all major perils and they offer convenient online quotes. Before deciding if you need a jewelry insurance company, you should assess what type of homeowners or renters insurance you already have, the policy coverage, and also consider your jewelry collection. When comparing jewelry insurance companies you want to keep several things in mind such as the reputation of the company, its reviews, and how long it has been in business.
Additional factors to consider include:. This can usually be done online or over the phone. You may need your current homeowners or renters insurance policy information and you will also need your Social Security number, valid photo identification, and information on where the jewelry will be kept.
For example, if you own the home, travel with expense pieces, or keep them in a safe. E-payment via credit card is usually preferred, although some companies allow you to mail a check.
You might also be able to manage your policy online or through an app. Like other types of insurance for a boat or a car, jewelry insurance is a financial product that provides coverage for the item at hand. With jewelry insurance, you can pay an annual premium for a policy that protects your jewelry against damage or theft. Policies often have a deductible, but some jewelry companies offer this coverage with no required deductible. Homeowners insurance often includes a personal property component that includes jewelry.
However, the way homeowners insurance is set up can make the coverage for jewelry less than optimal and expensive to use. A homeowners insurance deductible might also apply, which could wipe out the value of the policy entirely. This is why many consumers prefer to buy separate jewelry insurance coverage that is specific to their collection.
They can purchase an amount of coverage that will make them whole in the event of a loss this way, and they can choose their deductible and other policy details. Jewelry insurance typically includes any loss, including damage or theft. This can include a mysterious disappearance, which is any situation where your jewelry is suddenly missing without an explanation.
Jewelry insurance does not typically include damage from wear and tear or intentional acts. Coverage can vary in terms of pricing and scope. If you choose a policy without a deductible and with full replacement value, you can expect to pay higher premiums.
The process involved in filing a jewelry insurance claim depends on where you purchase your policy. Most jewelry insurance providers also let their clients file claims over the phone.
Either way, you should expect to provide information on the date of the loss and what exactly happened to your jewelry. You will also need to provide your policy number, your name, and your contact information. Your jewelry insurance company will investigate your claim, and you may be asked to answer some additional questions and provide more supporting evidence. To come up with the best jewelry insurance companies, we researched more than twenty of the top companies that offer jewelry insurance policies.
We chose reputable companies with overall strong ratings and reviews. All of the companies have policies that cover the major perils which is important when choosing a plan to protect your valuables. We also considered how easy it is to get a quote, the types of coverage, and how to contact an agent and file a claim.
But you can rest assured that your stolen piece is covered, too. You hit your diamond ring on the edge of a table and it cracks, or you're pulling on a sweater and a prong is bent.
Accidents happen. We'll cover that. Sometimes jewelry just disappears—it could be lost, stolen or hanging out in a drainpipe somewhere. You may not be able to explain how, where or when it vanished.
There are multiple factors that determine the cost , including where you live. For example, take a look at these various locations and example premiums. Estimate your rate in less than one minute. No personal information needed. Already have a quote? Retrieve your saved quote or application.
JIBNA does not offer online quotes, but you can call one of its experts to help you decide on the right policy option. Why We Chose It: Zillion earned a spot on our list because its online pricing was the best among companies offering online quotes.
Zillion sells insurance itself online, as well as through partnerships with various jewelers. While sometimes the pricing was only a few dollars less than the competition, for higher-value items, it paid to compare.
It is noteworthy, though, that Zillion did require some personal information in the quote process, which could explain the reduced rate compared to others quoting online who only add discounts later. Although you have to submit personal information such as your name, address, phone number, and email to get a quote online, the response time is excellent. Your quote will come by email and lets you know the next steps to confirm the quote and obtain coverage, which includes providing a receipt or appraisal.
Claims and customer service are available via a website form that mentions potential delays of up to 24 hours for service; however, when we asked Zillion for more information on coverage options via email, we had answers within minutes during business hours.
It made our list because of its reputation, accessible online quotes, and specialized coverage features. Founded in , Jewelers Mutual is a well-established insurance company specializing in jewelry coverage. The company offers "repair or replace" coverage for all the basics, like loss, theft, disappearance, but also includes coverage for preventative repairs.
Its repair or replacement coverage means Jewelers Mutual will settle a claim on a "same kind and quality" basis including brand names. Note that Jewelers Mutual will not offer a cash settlement if there's an incident, and you must have a recent appraisal to insure your ring or receipt.
The company has a stellar AM Best credit agency rating and can also insure a broad range of ring values with multiple deductible options. We also like that it allows you to use your own trusted jeweler.
Plus, it doesn't hurt that there are plenty of favorable online reviews. Why We Chose It: Chubb offers specialized coverage for engagement rings with coverage advantages we did not see elsewhere.
Chubb is a high-value home insurer with an excellent reputation for settling claims quickly and easily. As a specialist, the company will not have any trouble insuring an heirloom piece or any custom-made jewelry. It will also offer additional insurance solutions in case you will be looking for other valuable article coverage for precious wedding gifts or to insure your new home.
The company only works through agents, so you will not be able to get a quote online. GemShield offers basic engagement ring insurance coverage with easy online quotes. The policy offers coverage for lost, stolen, and broken or damaged items. Additionally, GemShield will cover missing stones. And no matter where you are, you don't need to worry about issues with coverage since it's worldwide. It's important to note that this is a "repair or replace" policy, but that comes with some perks like choosing your own jeweler and automatic coverage for newly acquired items.
However, the company offers many insurance limits and coverage features. At Lavalier, extra coverage features like jewelry in transit, available discounts for home safes and alarm systems, and approved gem grading reports make for a well-balanced policy to consider when looking for "repair or replacement" engagement ring coverage quotes online. Lavalier prides itself on being a provider that only insures and protects against risks specific to jewelry.
Thus the company is ideal if you want a policy separate from one for homeowners or renters. Why We Chose It: USAA stood out for the variety of options available to insure engagement rings for members of the military and their families.
The United Services Automobile Association USAA offers military members and their families the option to insure engagement rings on a personal property floater that may be purchased as a standalone policy in certain states. It is the third-largest home insurer in the U.
Although limited and subject to deductible, it is still a nice added benefit if you decide to insure your home with them. It also offers discounts when you bundle engagement ring coverage with your home policy. To get a quote with USAA, sign up for a quote on its website or mobile app, or call them directly. USAA does not provide quotes to non-members, therefore you have to provide USAA your military information and get an account with them before you can obtain a quote.
Overall, if you are eligible for coverage as a military member or family , explore what USAA has to offer. Your decision in selecting engagement ring insurance and your choice of a provider can make a significant difference in recovering from a loss. Insuring an engagement ring will ultimately be an individual decision depending on how much coverage you want, what you're willing to pay, whether or not you're willing to have an appraisal done, and whether you have coverage from a homeowners' policy, or need an entirely separate one.
In some cases like with Chubb and USAA , you might be able to get a standalone policy with competitive coverage, which gives you a discount on your other policies.
0コメント