Insurance Review

There are certain types of insurance that can be obtained to cover your most precious gems.  

First, we will review the top 2 internet based insurers.  The leaders in the industry when it comes to protecting jewelry. Below is our ranking of them.

BRITECO: Briteco is a major up-and-comer in this field. Briteco embraces the technology world with its easy and intuitive website. They will handle everything from the appraisal to the insurance. They offer competitive pricing, ease of use, and terrific customer support. A highly competitive quote can be given within 1 minute with minimal information given. Also, Briteco offers something most people don't think about, but do once it's too late. What is this? Well....what happens if you need to make a claim? Briteco is one of the few insurers that lets you work with the jeweler of your choice to replace the lost or damaged item. Other insurers have their own "suppliers'' who take control of the situation. Emotions run high and tempers can flair if you have a company that makes the process difficult. With Briteco, you can feel assured that they have your best interest at heart.

Overview:Founded in 2017, BriteCo is a specialized jewelry insurance provider, focusing solely on high-value pieces like engagement rings and luxury watches. Unlike competitors that offer multiple insurance products, BriteCo concentrates exclusively on jewelry coverage, making it a top choice for those looking to insure valuable items. The company's policies are underwritten by Glencar Insurance and reinsured by Hannover Re, both of which have A+ ratings from AM Best, indicating strong financial stability.

Key Benefits:

• No Deductibles: Most standard policies with BriteCo come without deductibles, meaning policyholders won't have to pay out of pocket when making a claim.
• High Coverage Limits: BriteCo offers coverage for individual items valued up to $150,000, and for collections, up to $500,000.
• Generous Replacement Value: BriteCo goes beyond the standard by offering up to 125% of the appraised value for replacement, ensuring policyholders are covered even if the value of their jewelry has increased.
• Global Protection: BriteCo's coverage extends worldwide, meaning your insured items are protected no matter where you are, whether at home or traveling abroad.

Key Benefits:

Who Should Consider BriteCo?
BriteCo is particularly beneficial for individuals with high-value jewelry who prefer specialized coverage without the need to bundle other insurance products. The company is also ideal for those who wish to avoid reappraisals frequently, thanks to the 125% replacement value feature.

However, if you're looking for the most budget-friendly option or prefer to bundle your jewelry insurance with other types of coverage, you might want to explore alternatives.

Cost Breakdown:

In addition to these, BriteCo also covers other jewelry items such as earrings, wedding bands, and pendants.

Customer Support and Claims:
Filing a claim with BriteCo is straightforward and can be done online, often taking just a few minutes. Customer service is available during regular business hours to assist with any questions or policy issues. BriteCo's high ratings from Glencar Insurance and Hannover Re assure that claims will be handled promptly and efficiently.

User Experience:
While BriteCo doesn’t have extensive reviews on platforms like Trustpilot, the company has received positive feedback on Google and Facebook, with customers praising the ease of obtaining coverage and the helpfulness of customer service. With a 5-star average rating across 950 reviews, BriteCo is well-regarded for its fair pricing and reliable coverage.

Conclusion:
BriteCo stands out in the jewelry insurance market for its specialized focus, high coverage limits, and unique benefits like no deductibles and up to 125% replacement value. While it may not be the cheapest option, the comprehensive coverage and strong customer support make it a compelling choice for those looking to protect their valuable jewelry.

Frequently Asked Questions:

• What is covered by BriteCo? BriteCo covers loss, damage, theft, and mysterious disappearance of insured jewelry items.
• Do you need an appraisal for BriteCo? Yes, an appraisal is required to obtain coverage.
• Is there a deductible? No, most standard policies come with no deductible.
• How does BriteCo’s claims process work? Claims can be filed online quickly, and the company’s high ratings ensure prompt payouts.

BriteCo is an excellent choice for those looking to insure their jewelry with a specialized provider.

BRITECO FREE INSURANCE QUOTE

LAVALIER: Another up and coming insurer in the space.  A name not well known yet, but the company is actually owned by Berkley Asset Protection.  This is a massive company and is making major moves to expand inside the jewelry insurance space.  Like Briteco(hyperlink), they too will let the client work with whom they want.  Overall our experience with Lavailer is a fairly seamless process.  Get a super competitive quote within seconds, with minimal effort.  

When it comes to a claim, you may have to poke and prod a hair, but nothing to worry about in the least.  They will make the situation right for you in short order!

Overview:
Lavalier offers specialized jewelry insurance tailored to protect against risks unique to jewelry. Unlike general insurance policies, Lavalier’s coverage is specifically designed for high-value pieces, providing personalized protection for items that mean the most to you.

Key Benefits:

• Personalized Coverage: Lavalier’s policies are crafted to meet the unique needs of jewelry owners, ensuring that each piece is covered appropriately.
• Jewelry-Specific Protection:The coverage is focused solely on jewelry, safeguarding against risks that are often overlooked by general insurance policies.
• Easy Claims Settlement:Lavalier prioritizes a hassle-free claims process, allowing for quick and efficient settlements tailored to your needs.

Coverage Details:

• Maximum Coverage: Lavalier offers up to $50,000 per piece and $150,000 per policy, providing ample protection for individual items and collections.
• Flexible Deductibles: To make premiums more affordable, Lavalier offers customizable deductible options, allowing you to balance coverage and cost according to your preference.
• Affordable Premiums: Lavalier provides several discounts to make jewelry insurance more accessible. You can easily obtain a quote and purchase a policy online.

Who Should Consider Lavalier?
Lavalier is an excellent choice for individuals looking for comprehensive, jewelry-specific insurance with the flexibility to customize deductibles and premiums. Whether you have a single valuable piece or a larger collection, Lavalier’s policies offer the tailored protection you need.

Conclusion:
Lavalier stands out as a top choice for those seeking dedicated jewelry insurance. With its focus on personalized coverage, affordable premiums, and an easy claims process, Lavalier offers peace of mind for jewelry owners who want specialized protection for their most treasured items.

LAVALIER FREE INSURANCE QUOTE