BriteCo Insurance

BriteCo Insurance: digital insurance for jewelry, watches, and events

BriteCo is a U.S. insurance technology company specializing in standalone jewelry and wedding or event policies. Founded in 2017 by a third-generation retail jeweler, the company presents itself as an alternative that streamlines and reduces the cost of purchasing coverage compared with traditional options. Its headquarters are in Evanston, Illinois.

The company sells its products through several channels: direct online sales, a network of more than 4,000 independent insurance agents in the United States, the checkout process of certain online jewelry retailers, the point of sale of more than 3,500 independent retail jewelers, and agreements with wedding venues and planners.

Jewelry and watch insurance

The jewelry and watch policy covers loss, theft, damage, and mysterious disappearance, with worldwide protection and coverage available at all times. The company states that policies can provide up to 125% of the appraised value, so the insured can replace the item even if market prices rise. Standard policies have no deductible, and coverage can be purchased from $5 per month, with monthly or discounted annual payment options. Purchasing is done online: getting a quote takes less than a minute, and coverage can be finalized in just a few minutes.

These are standalone policies separate from homeowners or renters insurance, so claims do not affect those other policies. Coverage includes certain preventative maintenance services, such as prong re-tipping and clasp replacement. There is no maximum insured value: the company covers everything from everyday pieces to million-dollar collections, always subject to its standard underwriting process.

The catalog distinguishes three main products:

• Jewelry insurance: customized coverage that can be purchased in minutes, with up to 125% of replacement value and no deductible.
• Watch insurance: protection for all major luxury watch brands.
• Engagement ring insurance: fast, affordable coverage against loss, theft, or damage.

Wedding and event insurance

The company offers wedding and event policies with broad, customizable protection for liability, cancellation, and specific risks. Notable features include "change of heart" coverage, COVID coverage, no deductible, and high limits.

General liability protects the insured, guests, and the venue against claims for bodily injury or property damage during the wedding. It includes host liquor liability, property damage, and pet liability if a dog or cat takes part in the celebration. The company states that many venues require this type of insurance and that liability coverage starts at $102, with $1,000,000 per occurrence and $2,000,000 aggregate. Cancellation coverage starts at $80 and can be adjusted to the cost of the wedding. Plans can include discounts of up to 15% and are venue approved.

Sample catalog pricing

The site shows indicative examples of monthly premiums: $6.06 per month for a $5,500 engagement ring in Phoenix, Arizona; $14.84 per month for an $11,750 watch in San Francisco, California; and $4.51 per month for $6,500 earrings in New York. The company notes that costs and limits are subject to underwriting review and approval according to the actual policy terms and conditions, and that rates may vary based on factors such as value and primary location.

Tools for jewelers

BriteCo offers retail jewelers a free, cloud-based appraisal option that integrates with e-commerce platforms such as Shopify and point-of-sale systems such as The Edge. This makes it easy for their customers to get instant insurance quotes at the point of sale.

Operations and licensing

BriteCo Inc. presents itself as an insurance agency licensed in all fifty states and the District of Columbia. The company operates from its headquarters in Evanston, Illinois, and markets its products under the BriteCo brand.

Location and contact

805 Greenwood Street, Evanston, IL 60201