Best Jewelry Insurance of April 2023

Jewelers Mutual has been around for over a century. It's built a reputation for reliability, works with jewelers nationwide, and offers robust coverage, including mysterious disappearance coverage and worldwide travel. (Note that mysterious disappearance is not typically covered by a homeowners insurance policy).

You can get a replacement of like kind and quality from the jeweler of your choice, and the company has excellent customer service reviews on Trustpilot plus far fewer complaints than expected with the NAIC. It also has an A+ (Superior) financial strength rating with AM Best. 

Unlike some other companies, however, Jewelers Mutual excludes coverage for damage from critters. If you’re not wearing your watch or jewelry, make sure you store it securely where pets and pests can’t reach it. 

BriteCo policies come with high coverage limits—you can insure up to $150,000 per item and $500,000 per policy. While the company offers discounts for security measures such as safes and alarms, they may be required for larger policies. Unfortunately, BriteCo’s quote process requires your personal information and isn’t as streamlined as some. But you can apply entirely online and start claims online as well. 

BriteCo has excellent customer reviews on Google and hasn’t received any complaints with the NAIC in recent years, which indicates that the company has few issues with customer satisfaction. BriteCo policies are also backed by an insurer that holds an A+ (Superior) financial strength rating with AM Best, which highlights a superior claims paying ability.

WAX provides worldwide coverage for loss, fire, theft, earthquake, flood, and breakage. And if you insure multiple pieces, you’ll be covered for up to 150% of each piece’s value, up to the policy limit, should its market value increase. But the platform isn’t designed for shopping around. You’ll need to supply your contact information to have a quote emailed to you or download the WAX app. 

WAX Insurance is underwritten by Chubb, which has been in business since 1882 and holds an A++ (Superior) financial strength rating from AM Best. The company also had fewer complaints than expected in recent years, given its market share.

GemShield provides robust, nationwide coverage—there are only a few exclusions, including intentional loss or damage, manufacturer’s defects, and situations such as war or nuclear hazard. New jewelry you buy even receives limited coverage for 30 days until you add the piece to your policy.

What’s more, GemShield's insurance parter that issues the policies, StarNet Insurance Company, has an A+ (Superior) financial strength rating from AM Best, which indicates superior claims paying reliability. And the company had far fewer complaints than expected in recent years with the National Association of Insurance Commissioners (NAIC). 

GemShield’s pricing was reasonable based on the quotes we gathered for wedding rings and watches, but it wasn’t the cheapest. However, you can get discounts for multiple policies as well as other discounts specific to your jewelry and situation. Note that GemShield policies have a maximum limit of $35,000 per piece and $100,000 per policy.

Lavalier offers flexible deductible amounts from $0 to $25,000. You can also insure a variety of items under $1,000 with the unscheduled jewelry endorsement from Lavalier, which can be an affordable way to cover a lot of different pieces. 

Lavalier has a simple quote tool that doesn’t require you to enter personal information. You can apply online as well, but you can’t start a claim online. You’ll need an appraisal for items worth $5,000 or more, and there’s a $50,000 single item limit and a $150,000 policy limit. One of the downsides of choosing Lavalier is that watches require underwriting review and may not be eligible for standalone scheduled coverage. You can, however, include watches as part of a schedule with other jewelry. 

Lavalier’s underwriter has an A+ (Superior) financial strength rating with AM Best, indicating superior reliability when it comes to paying claims. The company has a good customer satisfaction record—it received far fewer complaints than expected in recent years. Lavalier offers robust coverage, only excluding intentional damage or loss, manufacturer’s defects, and rare circumstances such as nuclear hazard and war.