PURE provides coverage on a worldwide basis. Covered losses include fire, hurricane, mysterious disappearance and theft.
We cover a wide range of valuable articles including:
- personal jewelry
- fine art
- coins, stamps, silverware
Choices: Blanket versus Scheduling
You have the option of scheduling items within a collection class – that is providing a description of each individual item – or choosing a blanket amount of coverage for the entire collection class, which covers a loss to any item within the class up to the single value limit (which is 25% of the blanket coverage).
You can also choose to combine the coverage types – scheduling a few items and using blanket coverage for the rest of the collection class.
Newly Acquired Items
For scheduled items, you have a comfortable 90 days to inform us of newly purchased or inherited items – we understand that informing us of a purchase is not your first priority. In the event that a loss occurs before we are officially informed of the purchase, we will pay up to 25% of the total amount scheduled for the collection class of which the item is added.
In the event of a total loss to a valuable item, we provide market value up to 150% of the item’s scheduled amount or 25% of the blanket amount.
Losses to Pairs and Sets
The mysterious disappearance of a diamond earring or covered damage to 1 of 2 candlesticks can create questions about the proper replacement approach. Is it best to replace the earrings all together? Does the candlestick have sentimental value? Our policy gives you several choices – allowing you the freedom to decide the best option for replacement.
You can choose to restore the item to its condition immediately prior to the loss – that is finding a diamond earring that matches the earring you have or replacing the candlestick. In the event that the pair or set lost value due to this replacement, we will pay the difference in value.
Keep the intact earring or candlestick and receive the difference in the market value of the pair or set immediately before and after the loss. Or, surrender the undamaged item, and you will be paid the market value immediately prior to the loss.
How Can I Save Money?
Current Valuation – A collection that has been valued or appraised in the last 2 years is eligible for a significant discount.
Balance – We offer a discount for well-balanced collections. Well-balanced collections are defined as those in which a single item is not more than 30% of the total collection.
Off Premises Jewelry Loss Limitation – Do you keep a safe in your home? Jewelry collections kept in a UL rated, secured home safes are eligible for the Off Premises Jewelry Loss Limitation which restricts coverage outside the home to a member’s chosen percentage of the total coverage. The remainder is priced at a significant reduction.
For example, if you have $500,000 in jewelry, but you only travel with up to $200,000, if you choose the Off Premises Jewelry Loss Limitation, you are covered outside of your home up to $200,000. In the event of a total loss to your jewelry inside your home, you are covered up to $500,000.
Protection Devices – Central station burglar and fire alarms may help reduce premium depending on the collection classes you wish to insure.
This material is descriptive only. The precise coverage offered is subject to the terms and conditions of the policies issued.