I'm sure this has been mentioned several times, but I thought I'd post the results of some of my research into jewelry insurance in Canada.
I looked into both my homeowner policy, with TD Canada Trust Meloche Monnex, and Jeweler's Mutual.
Homeowner
$12,000 maximum, $500 deductible
No appraisal required
Covers mysterious disappearance
Jewelry must be in your possession at the time of loss (i.e. no shipping coverage)
Don't necessarily get to choose your jeweler - up to appraiser
Cost*: An increase of $18/year
*Note that this is an increase of coverage to my existing policy. I pay $246/year for a condo owner's policy with $4,000 jewelry coverage. The $18/year boosts me to $12,000 jewelry coverage, adds mysterious disappearance, and increases a few other limits.
To compare apples to apples, I selected a $12,000 maximum and $500 deductible for the JM coverage:
Jeweler's Mutual
$12,000 maximum, $500 deductible
Appraisal required
Covers mysterious disappearance
Covers shipping
Choose your own jeweler
Cost: $127/year
I'm leaning towards the JM insurance for the following reasons:
[*]Shipping to and from my jeweler is covered. It seems that Canadians cannot get more than $1,000 in coverage when shipping across the border. Coverage through JM will give me that, which will make it affordable to send the ring back to BGD for repairs to maintain the warranty.
[*]JM gives me the flexibility of choosing my own jeweler.
[*]Once we add wedding bands to the policy, we're likely to exceed $12,000. JM can go higher. TD may be able to as well, but I neglected to ask.
[*]I can select $0 deductible with JM.
Those reasons might be worth ~$10/month.
What are others' thoughts? Are there any other ways to ship back to BGD and be insured? (Note: I have checked with UPS, Canada Post, and FedEx, and Purolator and their policies range from zero liability to $1,000 maximum).
I looked into both my homeowner policy, with TD Canada Trust Meloche Monnex, and Jeweler's Mutual.
Homeowner
$12,000 maximum, $500 deductible
No appraisal required
Covers mysterious disappearance
Jewelry must be in your possession at the time of loss (i.e. no shipping coverage)
Don't necessarily get to choose your jeweler - up to appraiser
Cost*: An increase of $18/year
*Note that this is an increase of coverage to my existing policy. I pay $246/year for a condo owner's policy with $4,000 jewelry coverage. The $18/year boosts me to $12,000 jewelry coverage, adds mysterious disappearance, and increases a few other limits.
To compare apples to apples, I selected a $12,000 maximum and $500 deductible for the JM coverage:
Jeweler's Mutual
$12,000 maximum, $500 deductible
Appraisal required
Covers mysterious disappearance
Covers shipping
Choose your own jeweler
Cost: $127/year
I'm leaning towards the JM insurance for the following reasons:
[*]Shipping to and from my jeweler is covered. It seems that Canadians cannot get more than $1,000 in coverage when shipping across the border. Coverage through JM will give me that, which will make it affordable to send the ring back to BGD for repairs to maintain the warranty.
[*]JM gives me the flexibility of choosing my own jeweler.
[*]Once we add wedding bands to the policy, we're likely to exceed $12,000. JM can go higher. TD may be able to as well, but I neglected to ask.
[*]I can select $0 deductible with JM.
Those reasons might be worth ~$10/month.
What are others' thoughts? Are there any other ways to ship back to BGD and be insured? (Note: I have checked with UPS, Canada Post, and FedEx, and Purolator and their policies range from zero liability to $1,000 maximum).
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