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Is BriteCo legitimate?
Before examining each company's specific policy attributes it's important to note that both Jewelers Mutual and BriteCo Jewelry Insurance policies carry an A+ superior rating — the highest possible rating from the insurance industry's leading analyst firms including A.M. Best and Standard & Poors.
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Is Brite Co good for jewelry insurance?
I had put it off for years but the jeweler made getting the appraisal and setting up the insurance very simple to do. Robert W. Excellent submittal process provided online, easy to attach required documents and fast approval.
How does my insurance process a jewelry claim?
Most homeowners insurance with a repair or replacement jewelry policy requires you to work with a specified repair service or a designated jeweler to settle your claim. You may need to provide them with any appraisals, receipts or descriptions you have of the original item to help them provide a comparable piece.
Is Brite Co good for jewelry insurance?
I had put it off for years but the jeweler made getting the appraisal and setting up the insurance very simple to do. Robert W. Excellent submittal process provided online, easy to attach required documents and fast approval.
How does my insurance process a jewelry claim?
Most homeowners insurance with a repair or replacement jewelry policy requires you to work with a specified repair service or a designated jeweler to settle your claim. You may need to provide them with any appraisals, receipts or descriptions you have of the original item to help them provide a comparable piece.
How much does it cost to insure a piece of jewelry?
In most cases, jewelry insurance costs about 1-2% of the value of the jewelry per year. So a $5,000 ring would cost $50-$100 per year to insure. You can quickly and easily get a quote for your jewelry items – no personal information required.
What should jewelry insurance cover?
2. What exactly does jewelry insurance cover? Insurance companies will give you different options to insure your jewelry. A good insurance plan will cover the full value of your jewelry in the event of damage, theft, accidental loss, and mysterious disappearance.
How does insurance work for Lost jewelry?
Jewelry insurance will cover the entire replacement value of your jewelry, whereas homeowners policies may only cover a fraction. Also, many homeowners policies will only cover jewelry if it is stolen. Not so with Jewelry insurance.
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What happens if I find the jewelry I filed a claim for?
If you've found the jewelry that you filed a claim for, contact your insurance. In most cases you will either have to pay the money back to your insurer or return the new piece you bought with the insurance money to your insurance company.
How does an insurance company process a claim request?
This generally involves completing a form documenting the covered event and requesting payment, and then submitting the form to the insurance company. The insurance company will either approve and pay the claim or deny the claim.
How do insurance companies determine value of jewelry?
If the market prices of precious metals, diamonds, and fine jewels rise or fall, it could affect the value of your jewelry. Vintage, antique, and collectible jewelry styles go in and out of trend, causing the values to fluctuate.
