Is $200/yr good price for a Chubb policy for 11k diamond?

[mrhammer2u]

I bought my diamond for 11k from a wholesaler so I am sure it will appraise for more. I was just going to cover it for the purchase price to keep the premium low. The diamond will be set, it''s an engagement ring. The difference between 11k of coverage and 15k of coverage was $50/yr. I am just wondering if $200/yr is a good deal.

Thanks so much!!

RB

 

[frazzledphoey]

I need to get insurance too... I heard typical policy''s cost b/w 1% - 3% of the diamond. So it sounds like you are within range...

Ralph

 

[curlygirl]

I think that''s about right. I just had a rider added onto my renter''s policy and it was about the same price. It''s totally worth it for peace of mind.

 

[RockDoc]

Chubb is a far different type policy than adding to homeowners type or replacement type.

Instead of comparing prices read the policies to see how claims are settled. I think you''ll find that Chubb is a little higher - but the coverage is far better than the replacement policies.

There is a lot on the forum about this. Just search under the keyword insurance in this forum, and you''ll get lots of info.

Rockdoc

 

[NyssaLynne]

My Chubb policy was $138/yr for $10,200 worth of coverage.

 

[baltneu]

The cost of the insurance will vary with your location in the country. It is more expensive in NYC than in Podunk.

ps. Nothing against people in Podunk!

 

[leeenie]

Is it true that if you file a claim for the diamond, the rest of your policy premium shoots up? Is Chubb not like this bc it''s not a rider? Do all riders carry this risk, and if not, how do you tell?

 

[baltneu]

leeenie
good question. ask you agent, will vary from case to case, depending on prior claims experience.

 

[nicoly]

Date: 4/22/2005 11

3:52 AM
Author:mrhammer2u
I bought my diamond for 11k from a wholesaler so I am sure it will appraise for more. I was just going to cover it for the purchase price to keep the premium low. The diamond will be set, it''s an engagement ring. The difference between 11k of coverage and 15k of coverage was $50/yr. I am just wondering if $200/yr is a good deal.

Thanks so much!!

RB

I just bought a policy last week from Chubb, for $10,000 (cost of the ring), and the cost was $187. Does this help?