Should you insure your jewelry? The short answer is yes. Losing uninsured precious jewelry, either it was stolen or getting lost, can be a heartbreaking frustration. That’s why you need Jewelry Insurance Progressive to protect the value of your jewelry, whether it’s engagement rings, family heirloom gold, necklaces, earrings, or more.
Who is Jewelry Insurance For?
Generally speaking, jewelry insurance is intended for people who want to protect their precious jewelry from potential damage like a house fire or burglary. It’s a good decision to insure your jewelry because you will get coverage for losses due to unexpected events.
Sometimes, standard property insurance has liability limits on jewelry losses. For that, you should insure your jewelry by getting a stand-alone jewelry insurance policy or adding a rider to your homeowner’s insurance. It allows you to receive the total value of your items for various types of losses.
However, you can’t simply insure every piece of your jewelry. It must be something valuable, such as fine gold, engagement ring, diamond, ruby necklace, family heirloom bracelet, and more. If you own jewelry from fast fashion stores or marketplaces that are not precious stones or metals, then you might not be considering jewelry insurance.
What is Jewelry Insurance Progressive?
Progressive is the best destination for jewelry insurance. One of the largest insurance companies, Progressive offers a wide range of insurance products, from auto, property, and life to jewelry insurance. More than 27 million customers have trusted the company to ensure what is important to them.
Lavalier Personal Jewelry Insurance has partnered with Progressive Insurance to provide affordable jewelry insurance for customers who want to protect their most precious belongings. The company offers jewelry insurance policies with coverage for a number of losses.
With Progressive Jewelry Insurance by Lavalier, you’ll have versatile coverage options to meet your needs and concerns. It is ideal for any customer looking for a standalone jewelry insurance solution or specialty coverage outside a homeowner’s or renter’s insurance policy. There’s no deductible once you schedule jewelry or add a rider.
Types of Jewelry Insurance Coverage by Progressive
Progressive Jewelry Insurance by Lavalier offers all-risk jewelry insurance coverage. It covers everything related to theft, damage, loss, or even mysterious jewelry disappearance. It does not have many exclusions for the policy. Any precious jewelry worth protecting can be insured with no fuss.
Meanwhile, the most popular jewelry insurance is the engagement ring. Why is that? Engagement rings are priceless. Beyond its fantastic price, the engagement ring has great responsibilities to stay protected from loss, theft, or damage. Jewelry insurance can offer peace of mind on your financial protection when you need it most.
Additionally, there’s individually scheduled and comprehensive jewelry coverage. What are the differences? Let’s take a look!
1. Scheduled Individually
As the name suggests, individually scheduled jewelry has one piece of coverage to be scheduled through your property insurance. This insurance involves adding a ride separately. Scheduling individually allows you to submit assessments for each piece as a requirement.
2. Blanket Jewelry Coverage
On the other hand, blanket jewelry coverage offers protection for more than just one piece of jewelry. This insurance does not require an appraisal like scheduled jewelry does. It helps you to have multiple parts covered by a single rider. Blanket Jewelry endorsement also has sub-limits per item and no deductible.
At Lavelier jewelry insurance, a single piece of jewelry has a $50,000 maximum limit. Meanwhile, the maximum limit on a policy in total is $150,000. If you need higher limits coverage, please get the company’s approval first.
What Doesn’t Covered In Jewelry Insurance
Please note that there are exclusions where your jewelry will not be covered. It includes accidental loss of your jewelry, manufacturer defects, intentional damage, rare situations such as war or nuclear hazards, damage from vermin, rodents, or insects, or typical gradual deterioration.
Moreover, the standalone jewelry policy will not cover watch insurance. Instead, you can get watch protection with the consideration of being covered through a policy that covers other parts.
The company will not cover that mentioned damage in a policy. Double-check again for jewelry insurance claims or ask the insurer for more details.
How Does Jewelry Insurance Progressive Work?
In short, jewelry insurance protects you against the cost of damaged, lost, or even stolen jewelry. You can file a claim if any of these things happen to you. Progressive Jewelry Insurance by Lavalier will process your insurance and deal with the jeweler of your choice to replace or repair the jewelry.
The company will pay for your jewelry. But before that, you have a chance to agree on the replacement or repair before you finalize the insurance claim. Is that so simple?
How Much Does Jewelry Insurance Cost?
The premiums for jewelry insurance vary depending on the jewelry you are insuring and the coverage options. Lavalier offers jewelry insurance starting at $68 per year and charges 1-2% of the insured jewelry value.
The deductible will adjust your rate from $0 to $25,000. No need to worry. This company gives you a discount if you have secure home storage such as a home safe. Discounts can also be claimed if you own a high-value gemstone appraisal.
How to Get a Quote for Jewelry Insurance at Progressive?
Beginning your insurance journey with Progressive Jewelry Insurance by Lavalier is simple and easy. Jump into the website and click “Get a quote.” Enter your zip code and see all insurance products available there. Select which one you need the most to cover your precious jewelry.
If you find any trouble with your purchase, kindly contact progressive customer service at 1-855-758-0941. The team will be glad to help you no matter what your problem is.
Get the Right Coverage with Jewelry Insurance Progressive
Jewelry Insurance Progressive ensures that all clients get full protection for every piece of precious jewelry. You can rely on this company with its quality of service and coverage options. Your valuable jewelry stays secure, and you’ll have peace of mind. Alright, let’s get the right coverage to suit your needs.