Founded in 2017 by industry experts, BriteCo offers standalone jewelry insurance policies backed by Glencar Insurance Company and reinsured by Hannover Re. Both companies have A+ AM Best ratings, signifying financial stability.
Unlike many competitors that offer multiple insurance products, BriteCo offers jewelry coverage exclusively. It’s led by Dustin Lemick, Connor Redmond, Ben Mautner, and John Ortbal, all of whom have significant expertise in the jewelry and insurance industries. If you’re considering BriteCo jewelry insurance, here’s what to know about this company, who it’s best for, its rates and products, and more.
BriteCo at a glance
- Policy cost: Starting at $4 per month for a $5,000 engagement ring
- Deductibles: No deductibles for standard policies
- AM Best rating: A+
BriteCo
| Appraisal required: | Yes |
| Estimated annual premium for $7,500 women’s engagement ring: | $75 |
| AM Best rating: | A+ |
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Who is BriteCo good for?
Offering coverage of up to $150,000 for a single item or $500,000 per collection, BriteCo is a good choice for those with expensive pieces. Its standard policies also come with no deductibles, so it could be worth considering if you want to avoid paying out of pocket after a covered loss. Its high coverage limits and lack of deductibles set this company apart from competitors.
BriteCo could also be a good choice for jewelry owners who don’t want to worry about reappraisals often. While many jewelry insurers will pay up to 100% of a lost or stolen item’s replacement cost value, BriteCo gives you some wiggle room. It will provide up to 125% replacement value, so you’re covered even if your jewelry’s appraised value has increased slightly since you obtained your policy.
BriteCo ranks as the best for engagement ring insurance, and one of the top five for luxury watch insurance and overall jewelry insurance.
Who shouldn’t use BriteCo?
Unlike some competitors, BriteCo doesn’t offer multiple insurance products. You cannot obtain auto or homeowners insurance through this company, just jewelry coverage. Those looking to benefit from discounts with bundling multiple products will likely want to look elsewhere.
While BriteCo offers relatively affordable coverage, it isn’t the cheapest jewelry insurance around; though this company does offer some perks that competitors don’t. If you’re looking for the least expensive coverage available, consider obtaining multiple quotes to find the best policy.
| Pros | Cons |
| High coverage limits | Does not offer multiple insurance products |
| No deductibles for most policies | May be slightly more expensive than some competitors |
| Up to 125% replacement value available |
BriteCo rates and products
BriteCo focuses exclusively on standalone jewelry insurance, which could be a positive or negative, depending on your perspective. Those seeking to bundle coverage may consider this a drawback, but others may appreciate the level of specialization and expertise a company like this provides.
Jewelry insurance
With BriteCo, you can insure the following types of jewelry.
| BriteCo jewelry insurance options | |
| Engagement ring | $4-$6 per month for a $5,000 engagement ring |
| Bracelet | $4-$5 per month for a $1,000 bracelet |
| Necklace | $4-$5 per month for a $500 necklace |
| Watch | $4-$5 per month for a $2,500 watch |
In addition to these pieces, BriteCo also insures earrings, wedding bands, other rings, pendants, and more.
Other services BriteCo offers
Jewelers seeking appraisal solutions can also partner with BriteCo to access its free jewelry appraisal management platform. This platform is designed to simplify the appraisal process, making it easier and faster to value pieces and expedite consumer claims.
BriteCo platform and customer support
If your insured item or collection is lost, damaged, stolen, or mysteriously disappears, you can file a claim online with BriteCo. The company indicates the process takes just a few minutes to complete. You can also contact BriteCo for help with an existing policy or have questions via email, phone, or their online chatbot.
Customer service representatives are available during normal business hours, 9 am-5 pm CST.
What is BriteCo’s reputation for paying claims?
BriteCo’s policies are issued by Glencar Insurance Company and reinsured by Hannover Re, both of which have A+ (superior) AM Best ratings. AM Best is a trusted, independent insurance credit rating company. These high ratings indicate that both companies are financially sound and can readily pay out customer claims when they occur.
BriteCo user reviews
BriteCo isn’t accredited or rated by the Better Business Bureau (BBB). User reviews of BriteCo are fairly limited on Trustpilot, with only one reviewer posting feedback about the company. The review is positive, mentioning that BriteCo was extremely helpful with the claims process.
The company fares well in terms of its Google and Facebook reviews, with a 5-star average rating across 950 reviews. Satisfied customers report good experiences with customer service and obtaining coverage. Others mention the company’s fair prices for jewelry insurance.
Compare BriteCo alternatives
| Insurers | Rates | AM Best rating | Available products |
|---|---|---|---|
| Current Selection BriteCo | $$$ | A+ | Jewelry insurance |
| Jewelers Mutual | $$ | A+ | Jewelry insurance Jewelry business insurance |
| GemShield | $ | A+ | Jewelry insurance |
| Chubb | Not disclosed | A++ | Vehicle insurance Home insurance Jewelry insurance Business insurance |
| Current Selection BriteCo | |
|---|---|
| Rates | $$$ |
| AM Best rating | A+ |
| Available products | Jewelry insurance |
| Jewelers Mutual | |
| Rates | $$ |
| AM Best rating | A+ |
| Available products | Jewelry insurance Jewelry business insurance |
| GemShield | |
| Rates | $ |
| AM Best rating | A+ |
| Available products | Jewelry insurance |
| Chubb | |
| Rates | Not disclosed |
| AM Best rating | A++ |
| Available products | Vehicle insurance Home insurance Jewelry insurance Business insurance |
Is BriteCo right for you?
BriteCo could be worth considering if you’re looking to insure jewelry exclusively. This company offers no deductibles for most of its policies, and you’ll get up to 125% replacement coverage. Your insured jewelry is also protected no matter where you are in the world—at home, on your honeymoon, or visiting family abroad.
If you’re shopping for jewelry coverage, it’s worth getting a quote from this company and others to determine which insurers offer the best coverage at an affordable rate.
Frequently asked questions
What is covered by BriteCo?
BriteCo protects covered jewelry from unintentional loss, damage, theft, and mysterious disappearance. Its coverage also extends to preventative maintenance, including prong repairs, repairs of bent earring posts, pearl restringing, and more.
Do you need an appraisal for BriteCo?
Yes, you will need an appraisal to get your jewelry insured by BriteCo. With a proper appraisal, you’ll get an appropriate amount of coverage for the items you wish to insure.
Is there a deductible for BriteCo?
BriteCo indicates that its standard policies have no deductible. Thus, you likely won’t need to pay anything out of pocket before your insurance coverage kicks in.
How does BriteCo’s claims process work?
You can file a claim with BriteCo online, and the process takes just a few moments. A customer representative will then follow up with you to discuss your claim. BriteCo does not provide a timeframe in which claims are typically settled.
About the contributors
Jessica is a personal finance expert who’s been creating online content since 2009. Before transitioning to full-time freelance writing, she was on the editorial team at Investopedia and The Balance. Her writing has been published on Yahoo Finance, Forbes Advisor, Investopedia, Time, and Newsweek.
EDITORIAL DISCLOSURE: The advice, opinions, or rankings contained in this article are solely those of the Fortune Recommends™ editorial team. This content has not been reviewed or endorsed by any of our affiliate partners or other third parties.
