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 » RockyTalky
»  » Does $400 for insurance sound expensive?
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Does $400 for insurance sound expensive? |
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| P: 7/31/2003 7:08:37 PM | |
chrispassmore Rough Rock Total Posts: 17 Last Post: 8/14/2003 Member Since: 6/5/2003 |
I have called around (Allstate, Farmers, Jewelers Mutual), and so far it seems as if the average cost to insure my engagment ring is about $350-$400. It appraised at $18K, with a purchase price of $10K. I'm just curious if this sounds a bit pricy to anyone else. I sure as hell hope not. 
Chris |
| Posted: 7/31/2003 7:08:37 PM | |
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There are 1 replies to this message. There are 1 replies on this page. |
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| P: 7/31/2003 8:19:52 PM | |
hoorray Cut Rock Total Posts: 138 Last Post: 4/10/2004 Member Since: 5/16/2003 |
They typically charge a $$ amount per $1000 insured. If you got a new appraisel for closer to the actual replacement (purchase) cost, the insurance cost would be lower. It'd probably pay for the second appraisal several times over. I'd call a couple of appraisers and find out their process and style. Mine told me what he thought actual replacement cost was, and asked me if that was how I wanted the value listed (rather than the inflated retail pricing. No insurance company is going to pay retail, so they are making out with the inflated appraisals.) A basic insurance appraisal shouldn't be expensive.
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| Posted: 7/31/2003 8:19:52 PM | |
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