PURE Rolls Out Restructured Jewelry Insurance in Connecticut

The PURE Group of Insurance Companies (PURE Group), which includes Privilege Underwriters Reciprocal Exchange (PURE), the policyholder-owned property and casualty insurer designed for high net worth individuals and families, has restructured its jewelry insurance to include more protection for losses related to theft and disappearance on their 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 that is 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 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 complimented with a suite of services, including:

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.