Geico Jewelry Insurance, offered through its GEICO Insurance Agency provides customers with high-end jewelry and other heirlooms peace of mind. 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.
The personal property section in your homeowner's or renter's policy will cover most jewelry, but it may be inadequate to protect certain pieces. 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, this coverage costs about 1-2% of the item's total value to insure each year.
Most homeowner and renters insurance policies cover damage or loss of jewelry up to an amount, which is typically $1,000-$5,000. This may not be sufficient to cover you in the event of a catastrophe, such as losing your jewelry during a flood or an earthquake.
The best option to avoid paying out of pocket to replace jewelry is by investing in a policy that covers similar items. That can mean spending a little more each month, but it could save you a lot in the long run.
The other types of losses, like theft and mysterious disappearances, are also covered by a good policy. This is vital, since most losses fall in this category.
If you're considering a specialized jewelry policy, take the time to learn what kind of coverage it provides, how much it costs and how the claim process works. It's now time to compare quotes and find the best insurer for your needs.
GemShield
GemShield was the fastest and easiest to use online of all the providers that we evaluated. Enter your ZIP code, the estimated value of your jewelry and select a deductible from $0 to $1,000.
BriteCo
With an A+ financial strength rating from AM Best and excellent reviews on sites like Google and Facebook, BriteCo offers jewelry insurance with no deductible or up-front appraisal required. You can pay your monthly or annual premium.
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. Additionally, you can cover jewelry with an appraised value less than 18-months old or with detailed sales receipts.
Choose a replacement policy to have your jewelry repaired or replaced with similar items. 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.
A stand-alone insurance policy can be purchased to cover jewelry in addition your homeowners policy. This type of insurance will not increase your homeowners' rates.