The PURE Group of Insurance Companies has restructured its jewelry insurance to include more protection for losses related to theft and disappearance on its homeowners policy. The additional coverage is available to policyholders at no additional cost.

PURE has removed its $50,000 cap and will instead cover all jewelry losses up to the full contents limits of the homeowners policy. The insurer said this change reduces the chances of an out-of-pocket loss for its members. This updated program is designed to supplement the coverage provided through PURE’s dedicated Jewelry, Art and Collections policies.

PURE is piloting this program in Connecticut and aims to make a similar offering available to members nationwide.

The change will benefit members who maintain contents limits equal to or greater than 50 percent of their dwelling coverage amount, as well as any members with at least $2 million of contents coverage. There is no correlating adjustment in premium anticipated, enabling these members to have flexible coverage in advance of renewal.

While the $50,000 aggregate sublimit no longer applies to Connecticut members, the $25,000 per item limit still remains.

PURE’s policies are complemented with a suite of services, including:

  • Repairs, recovery and replacements – Following a claim, PURE’s specialists can coordinate repairs on members’ behalf and assist in the recovery process or locate a partner to craft a replica of the lost item.
  • In-home appraisals – PURE’s specialists can visit members’ homes to appraise the value of their jewelry when it is convenient for them.
  • Risk management assessments – A virtual or in-home risk management assessment to address the condition of members’ in-home safe, cameras and alarm systems and to advise on other safety protocols.
  • Jewelry buying – Should members need assistance with acquiring a new piece, PURE’s specialists can connect them with one of its vendors who can help locate it and consult on price negotiation.
  • Couriers and transport – PURE’s partners can assist with the shipping of high-value items in the event members are transporting a piece to be cleaned, repaired or are traveling.

PURE provides customizable coverage for high-value homes, automobiles, jewelry, art, personal liability, watercraft, flood, fraud and cyber fraud to more than 75,000 responsible, high-net-worth families throughout the U.S. PURE includes Privilege Underwriters Reciprocal Exchange (PURE), the policyholder-owned property and casualty insurer designed for high-net-worth individuals and families.

Source: PURE