Best Jewelry Insurance of April 2023

Established in 1913, Jewelers Mutual is one of the longest-standing insurers we reviewed.

Along with being a long-standing company with a good reputation, Jewelers Mutual stands out because it doesn’t typically require policyholders to provide appraisals or receipts to get coverage. That said, they will be required if you file a claim. The company also offers competitive pricing, several discount options, automatic value adjustments, worldwide coverage, and coverage that can be transferred to another person (like a fiancé) if a piece of jewelry is given away as a gift.

Note that if you’re comparing providers, Geico jewelry insurance is actually provided by Jewelers Mutual.

BriteCo offers a number of stand-out features that helped it make this list, including no deductibles, free preventative maintenance, and coverage for up to 125% of a jewelry item’s appraised replacement value. The preventive maintenance benefit includes services such as prong re-tipping; repairing broken, bent, or worn prongs; and stone tightening—which can be especially helpful for the owners of engagement rings. Plus, premiums were slightly lower than average in our review of engagement and wedding ring quotes.

The insurer also covers a wide range of scenarios worldwide, including theft, burglary, robbery, accidental damage, and mysterious disappearance. It also will adjust your coverage annually based on increases in inflation and metal or gemstone prices. 

When it comes to getting coverage, the process is fairly convenient. You’ll need to provide more information relative to some competitors for a quote, including contact info. But you can sign up and get a policy online. Monthly payments are available and you can also get a discount if you keep your jewelry in a home safe and use your local jeweler for claims. 

GemShield ticks almost all the boxes and does so well. The insurer offers competitive premiums and it covers many situations that could result in claims, such as loss, damage, theft, mysterious disappearance, earthquake, and flood. It also covers jewelry you’ve recently purchased before you’ve had a chance to add it to your policy, as well as jewelry you gift to others (like a fiancé).

What we appreciate most about GemShield is its convenience. In less than a minute, you can get an online quote without providing personal information (no name, email, or phone number required). Then, if you want to move forward, you can complete the application in minutes and get approved electronically. Annual payments are available, and you can get discounts for keeping jewelry in a home safe, having a home alarm, or having a central station burglar alarm. 

Lavalier made our list thanks in part to the long list of discounts available with its jewelry insurance policies. You can save on your premium if you have a home alarm; keep your jewelry in a home safe, bank vault, or safe deposit box; or if you choose a higher deductible. You can also potentially save if you have a gemstone grading report from AGS, GIA, GSI, or Forevermark. 

Plus, Lavalier offers a convenient quote and application process. The company doesn’t require contact info for quotes and you can apply online in minutes. Jewelry policies are “all-risk,” meaning that situations are covered unless explicitly excluded in your contract. You also won’t need an appraisal or receipt for items unless they’re valued over $5,000.

Chubb offers jewelry insurance that can be a great fit for high-net-worth families because appraisals aren’t required for individual jewelry pieces valued below $100,000. Instead, the company only asks for a detailed description and estimated value, which can make getting coverage very convenient. You can also opt to protect your entire collection with blanket coverage or can itemize each jewelry piece.

Other perks? Chubb’s coverage is available worldwide, claim payments can be issued in as little as 48 hours, and the company reimburses 100% of the agreed value as a cash settlement. Further, the company has been around since 1882 and it received an A++ (Superior) financial strength rating from AM Best.