Our policy is an “all risk” policy, meaning that everything is covered unless it is expressly excluded. There aren’t many exclusions. Any form of loss, damage, theft, or ‘mysterious disappearance’ is covered anywhere in the world. (‘Mysterious disappearance’ is simply unexplained loss.) Our policy provides limited coverage for newly purchased jewelry. We also cover your jewelry in transit for inspection or repair.
What is not covered are things like manufacturer’s defects, intentional loss or damage, and some highly unusual situations like nuclear hazard or war. We’ve designed our coverage to be comprehensive since we know we are protecting some of your most precious possessions…and the moments in life that they symbolize.
We offer discounts if you have a home alarm, a home safe, a gemstone grading report from AGS, Forevermark, GIA, GSI, IGI, or Tiffany, or if you store your jewelry in a bank vault or safe deposit box. Another way to reduce your premium is to choose a higher deductible. Lavalier offers deductibles as low as $0 and as high as $25,000.
Jewelry coverage under a homeowner’s or renter’s policy is typically very limited and very restrictive. For example, coverage is often as low as $1,000 – $5,000. And usually the same deductible applies to your overall renter’s or homeowner’s coverage as to the jewelry portion meaning that in a case of loss or damage, your actual protection may be well below the cost to replace or repair your jewelry. Furthermore, many homeowner’s and renter’s insurers require you to work with their network of jewelers, which may not be the same quality as your jeweler. Coverage through Lavalier is comprehensive and personalized.
Appraisals are required for all items $5,000 or greater. An acceptable appraisal will include the following:
- the name/address of the jewelry store;
- the name/address for whom the appraisal is intended;
- a detailed description of the jewelry including the type of stones, quality, weight, brand names, serial numbers, model numbers, identifying manufacturer’s marks (laser inscription) and the metal of prongs, mountings/settings;
- be dated within the last 12 months (additional underwriting questions may be required if the appraisal is older than 3 months);
- the retail replacement cost for the described jewelry;
- signed by the appraiser or store employee authorized to provide appraisals with their written name included;
- Pictures are recommended but not required. Customers with higher valued items or older appraisals may be required to also submit pictures through TruePic.
If valued under $5,000, a detailed sales receipt may be submitted provided it includes the metal, types of gemstones or diamonds, carat weight, and quality.
In most instances, the jeweler where you purchased your jewelry will provide an appraisal upon request. Or, you may take your item to a local jeweler who will provide an appraisal for a fee as part of their services. We do not accept virtual or handwritten appraisals.
In addition, there are organizations that provide access to individuals who specialize in appraisals; you will be charged a fee for the appraisal. These resources include:
National Association of Jewelry Appraisers
The American Gem Society
To make sure you are getting a qualified appraisal, consider asking the following questions of the person providing the appraisal:
- What jewelry appraisal education and training have you received?
- Do you have any certifications, such as the Graduate Gemologist (GG) from GIA?
- For how many years have you been providing appraisals?
- Approximately how many appraisals do you complete in a year?
Very quickly. A quote takes under a minute – applying for coverage under 10 minutes. Coverage begins as soon as we approve your completed application (including an appraisal or detailed receipt) and receive payment. Many insureds are approved while still online and receive an email confirmation. If we need additional information, you will be informed via email and it may take longer; watch for our email or a phone call.
Unscheduled coverage is perfect for jewelry you consider to be too inexpensive to appraise and list individually on your policy, yet the items are important to you. For those items, we have the Unscheduled Jewelry Endorsement. To qualify, your policy must have at least one scheduled (individually listed) item of jewelry with an appraisal. The endorsement covers jewelry you own that is worth up to $1,000 per item. You purchase the coverage in $1,000 increments, up to $5,000. Unscheduled items are subject to $100 per occurrence deductible if you have a claim. In addition, mysterious disappearance is not covered on unscheduled items.
$50,000 on any single item, however exceptions may be granted subject to underwriting review.
$150,000, however exceptions may be granted subject to underwriting review.
Yes. In your application, be sure to tell us who is receiving the gift. As long as the policy remains in force and that person owns the gift, it is insured. Should they ever give it to another person or sell it, however, coverage would stop.
