Oyster's policy is an “all risk” policy, which means everything is covered unless it is on the small list of exclusions in the policy document. Any form of loss, damage, theft, or mysterious disappearance is covered anywhere in the world.

Jewelry coverage under a homeowners or renters policy is typically very limited and very restrictive. For instance, accidental damage is often not covered and theft is covered up to a relatively low limit, such as $1,500. The most common cause of jewelry loss is mysterious disappearance (i.e. you left it the hotel or at the restaurant) and this is very unlikely to be covered under a homeowners policy. You are also subject to the same deductible as your overall homeowners or renters policy (which is often $1,000), meaning that in a case of loss or damage, your actual protection may be well below the cost to replace or repair your jewelry. Other key drawbacks include the fact that any claims can affect your homeowner premiums and there is limited control over the repair/replace service. In summary, homeowners or renters policies are great for certain protection, but not adequate for jewelry. For more details, see our blog post on this topic.

Policies with Oyster typically cost 1-2% of the value of the jewelry year. This means that a $5,000 ring could cost only $50 per year to insure, or only $4 per month. Protecting your valuable jewelry could be cheaper than one coffee a month.

Depends on the jewelry items you own, it's typically recommended to have jewelry insurance to protect against unforeseen accidents. Jewelry insurance provides peace of mind in case your jewelry is broken, stolen, or lost. At Oyster, we specialize in insuring jewelry of all shapes, sizes and values and our low minimum annual premium of $25 (just $2/month) means that protecting items you may not normally think of becomes affordable.

Most warranty or service plans typically only covers wear and tear issues. These plans do not provide protection for everyday risks such as theft, loss, mysterious disappearance or accidental damage. Warranties can usually only be purchased at the time you buy the jewelry (or a short window after it) and are normally only valid at that specific jeweler.

In addition, claims are normally capped at the purchase price (not the appraised value, like Oyster insurance) and jewelry often goes up in value. Insurance is recommended in addition to a warranty or service plan, but if you only want one, insurance through Oyster is much broader than the average warranty and is personalized to your jewelry and your needs.

Homeowners' policies have limitations for electronics as to how they are covered, where they are covered, and how much they are covered for.

Firstly, many homeowner and renter policies do not offer any protection for on-the-go electronic devices. Those that do, typically have very low limits (e.g. $500) and often exclude important coverages such as theft or liquid submersions. There is normally no protection for devices used for business and deductibles are often prohibitively high as they often match the homeowner deductible. Should you need to file a claim against your policy, there is also a risk that your homeowner insurance rates increase.

Oyster has plans built specifically for personal electronics, with unlimited claim submission and the ability to purchase coverage anytime. Plus, coverage through Oyster means your homeowners or renters insurance rates won’t increase if you need to file a claim.

Oyster electronics insurance covers the cost of repairing or replacing your device for the following losses: cracked screens, spills, liquid submersion, accidental damage (e.g. drops), theft, natural disasters, fires, floods, and any power surge caused by lightning. We do not cover any intentional damage or cosmetic damage.

For new devices, we offer optional cover for mechanical failures and manufacturing defects.

Warranty covers mechanical failure and breakdowns, it normally does not provide coverage for accidental damage or theft. Electronics insurance from Oyster protects against a variety of damages including theft, cracked screens, spills, liquid submersion, and drops.

For new devices, we also offer optional cover for mechanical failure and breakdown, meaning we cover you for most foreseeable risks.

There is no real "average" policy as many factors affect the price of insurance e.g. type of device, price of the device, etc. Our policies start as low as $2/month, so protecting your electronics could be cheaper than a coffee a month.

It takes less than 2 minutes to get a quote for a policy with Oyster, so that's the best way to find out exactly how much insurance will cost you.