How to Insure a Tiffany Ring

March 6th, 2022

If you have chosen to celebrate your love and commitment with a Tiffany engagement ring, you’ll want the best possible insurance coverage to ensure your priceless piece of jewelry is protected. Learn how to insure your Tiffany ring with BriteCo™.

Who is and Who Owns Tiffany and Co.?

Tiffany and Co. is an American luxury jeweler that was founded in 1836 and is based in New York City. Initially operating as a stationary goods store with a mail-order catalog, the company created a line of silverware and provided swords for the Union Army during the Civil War.

After establishing their flagship Manhattan store in 1870, Tiffany focussed on crafting fine jewels and selling high-quality diamonds.

Tiffany and Co. is an iconic part of American culture, with its jewelry featured in movies and worn by celebrities. Tiffany was also commissioned to create a set of White House China.

In addition to their extensive fine jewelry collections, they sell silverware, crystal, china, and stationary. Tiffany and Co. also carry a wide range of leather goods and fragrances to complement their jewelry lineup.

As of 2021, in a record-breaking $16.2 billion deal,  Tiffany and Co. is owned by the multinational corporation and conglomerate LVMH Moët Hennessy Louis Vuitton.

single diamond on blue mat with tweezers

Why You Should Consider Insurance for Tiffany and Co.

Tiffany and Co. design top-of-the-line jewelry that comes with a high-end price tag. Their jewelry pieces often feature rare diamonds or specialized cuts and settings that contribute to the price.

The company’s prestigious brand name also drives up market demand for Tiffany jewelry, increasing the price. When you buy a piece of Tiffany and Co. jewelry, you make a long-term investment.

Due to the high cost of Tiffany jewelry, especially a Tiffany engagement ring, it is critical your pieces are insured. Jewelry insurance can protect your jewels against loss, theft, damage, or mysterious disappearance. However, Tiffany does not offer in-house jewelry insurance.

Insuring a Tiffany and Co. Necklace

Tiffany and Co. have created some iconic necklaces, from the yellow Tiffany diamond worn by Audrey Hepburn and Lady Gaga to the turquoise bib Cate Blanchett wore to the Oscars.

While many people believe their homeowner’s insurance covers their fine jewelry collection, most insurers limit payouts to about $1,500 per item. Homeowners Insurance or renters insurance is insufficient to cover a luxury Tiffany necklace. Dedicated jewelry insurance with BriteCo™ ensures you have the comprehensive coverage you need if your necklace is accidentally damaged, stolen, or lost.

Insuring a Tiffany and Co. Ring

Getting Tiffany ring insurance is simple with BriteCo™. When you purchase your engagement ring, you will be sent two complimentary valuation letters within 7 days of receiving your ring. You can insure your engagement ring within 12 months using these documents. Keep in mind that the majority of reputable jewelry insurance companies will request paperwork or documentation that verifies the item’s value. Make sure to get your jewelry appraised because having an accurate appraisal is the only way to ensure that your item will be replaced exactly in the event of a claim.

When generating a quote through BriteCo’s easy-to-use online insurance calculator, these valuation letters can be used as the appraisal value. Your ring insurance should cost between 0.5% and 1.5% of the appraisal value.

The Jewelry Insurance Process

To insure your Tiffany ring with BriteCo™, input your Tiffany engagement ring valuation price into the BriteCo™ online calculator. Next, add your name, zip code, and email address to generate a quote in less than 60 seconds.

Once you have received your initial quote, you’ll be asked several additional questions to help determine a more accurate premium amount. After reviewing your final quote, use your credit or debit card to set up monthly or annual payments. You can also add your fiancé as an additional policyholder at no extra cost.

The Fine Jewelry Replacement Process

When you make a claim, BriteCo™ offers coverage for up to 125% of the replacement price of your engagement ring. Our jewelry insurance covers repairs and maintenance for worn or bent ring settings, broken or chipped stones, and stone tightening.

To have your lost or stolen engagement ring replaced, contact BriteCo™ and complete an online claim form. BriteCo™ will then work directly with their claims adjuster partners and the Tiffany store where you purchased the ring to arrange a replacement.

diamond engagement ring in open Tiffany box with empty Tiffany boxes and white tulle

BriteCo™ Can Work With Tiffany to Replace the Ring

BriteCo™ works with Tiffany to ensure your engagement ring is replaced or repaired. Our policies have zero deductibles, so there are no out-of-pocket costs to replace your ring. Contact BriteCo™ today to learn how you can benefit from a dedicated jewelry insurance company.

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About the Author

Dustin Lemick is the Founder and CEO of BriteCo and a third-generation jeweler with over thirteen years of retail jewelry experience. He holds a Graduate Gemologist degree from the Gemological Institute of America (GIA) and has in-depth knowledge and expertise in appraisal systems, diamond and gemstone markets, retail pricing models, insurance replacement models, and jewelry quotation pricing systems.
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Please see the Licenses section of this website for more information. All insurance policies underwritten and issued by Glencar Insurance Company and administered by BriteCo.