Are your jewelry items insured?

[asscherisme]

Do you insure as a separate policy or a rider on homeowners/renters insurance your jewelry? Is there a pricepoint at which you decide to insure (for example, only items over $3K, or 5K etc?)

And for those of you who choose not to insure high value items (for example over $5K or more) why? Do you feel unsafe wearing uninsured items? Fear of loss?

For those that keep uninsured large items at home, do you have a safe that's bolted down? Other hiding place?

I just got my annual jewelry insurance policy and am reevaluating it. I am thinking of dropping items under a certain amount but keeping the big ticket items. Trying to decide where to draw the line.

Would love to hear others thoughts/opinions

 

[Tuckins1]

I have individual riders for my engagement, wedding, and RHR rings. Everything else is covered under my home owners. I basically just got riders for anything over 1,000, which is what our homeowners covers.

 

[texaskj]

Between the two of us, we pay a truly asinine amount of money every year to insurance companies. To be honest, unless we win the Lotto, I don't really want anything that needs to be insured. We decided our insure limit is $2,000. Jewelry I don't wear and family heirlooms are in a safe.

 

[ame]

yes through a Chubb standalone. They don't write them anymore so I am always scared it won't keep being renewed but I am thrilled with them, and I would not dream of not having good insurance on my pieces. I still end up with them in the safe 99.9% of the time.

 

[Dancing Fire]

No, can't afford the insurance at $230 per $10k worth of coverage..

 

[kenny]

I don't insure anything I don't have to insure.
The so-called peace of mind is less valuable to me than the price of the monthly premiums.

If something is lost or stolen I'll just be happy for the time I had with it.

 

[Indylady]

No--though I might get insurance soon.

 

[SB621]

My rule of thumb is that if I loose it can't easily replace it or recover form the $$ loss then I have it insured. But I also have really low insurance policey through USAA. I also keep most of my stuff in a bank valut so I get an addtiional discount for that.

 

[Mayk]

My e-ring and my RHR are both insured.. my bands, earrings and my pendant are not on the policy. My policy is with Jeweler's Mutual. We had it on Home Owners but when we sold our home and moved into a rental I had to make the change. Renter's insurance for Jewels not so affordable.. when we move into the new house I will look into moving it back to homeowners or I may just add the smaller pieces at that time.

 

[LLJsmom]

Yup, larger pieces, over $5K. Part of my homeowners' policy. I have to think about watches. Never did before. I'm risk averse. Insurance companies make money off me. It's what I need for peace of mind. I can live with it.

 

[distracts]

My rule of thumb is that if I loose it can't easily replace it or recover form the $$ loss then I have it insured. But I also have really low insurance policey through USAA. I also keep most of my stuff in a bank valut so I get an addtiional discount for that.

Have you ever had to make any claims on your USAA policy? We have switched our cars over to USAA and will be switching our house soon and I have talked to them and gotten quotes on the valuable personal property insurance but idk! The woman I talked to on the phone seemed to think they would find like kind only through their specific vendors, which makes me nervous as EVERYTHING I have to insure is either a colored stone or antique. I need to call and speak to like an expert on the valuable personal property insurance or something.

 

[Andelain]

None of my stuff is insured, but I should get insurance on at least my larger pieces. But I doubt any insurnace company would pay out on what I wear over here.

 

[SB621]

My rule of thumb is that if I loose it can't easily replace it or recover form the $$ loss then I have it insured. But I also have really low insurance policey through USAA. I also keep most of my stuff in a bank valut so I get an addtiional discount for that.

Have you ever had to make any claims on your USAA policy? We have switched our cars over to USAA and will be switching our house soon and I have talked to them and gotten quotes on the valuable personal property insurance but idk! The woman I talked to on the phone seemed to think they would find like kind only through their specific vendors, which makes me nervous as EVERYTHING I have to insure is either a colored stone or antique. I need to call and speak to like an expert on the valuable personal property insurance or something.

Distracts over the last 8 years I have had 2 claims. Both were very easy to deal with and USAA just wrote me a check for them. The key is to document everythign with them. I had appraisals, reports and receipts for 1 item and then just an appraisal for the other. Because USAA has to match everything or better the more documentation you give the better. I'm guessing the CS you are talking about is your sapphire? If you have an AGL report and put int he policey it is sapphire from BURMA, treatment XX, tone XX, I mean overkill them with details they won't be replace it. They will just cut you a check for the appraisal value or what you paid pending how you insure it. Honestly I have been super happy with them. The second item I did a claim with FYI was under their blanket policey- also super easy to handle.

 

[asscherisme]

What do you all think of jewelers mutual? Anybody every file a claim with them? From what I understand they let you choose the vendor so replacing with exactly what you lost would not be an issue. Currently I have a rider on my homeowners and I believe they choose the vendor. I'm with State Farm now. Anybody file a claim with State Farm?

 

[Skippy123]

Here are my thoughts for myself. I have pieces uninsured, they sit in a safety deposit box at the bank. Banks have good internal controls so I am not worried about anything happening to them there. I don't keep the things that are uninsured at home. I do have a few items uninsured that I could easily replace. I find insurance to really add up so things that are easy to replace, I don't insure. I actually looked into insuring things that stayed in the safety deposit box at the bank but it almost cost the same as just insuring them and I would have to go to the hassle of the bank signing off that the item is in the deposit, etc. Go for a stand alone policy. I think homeowners is only 2k and you don't want to ever really drawn on homeowners for jewelry. You need your homeowners for your home, for damage to your home, etc, that will cost a lot. My agent actually went into claims and being dropped, etc but that is a completely different topic and now I am rambling.

 

[Dee*Jay]

I insure everyting with Travelers and have been SUPER happy with them. Honestly, I probably do pay a premium (no pun intended) but if something happens (and I've had to make 2 claims in 15 years) they just cut a check *for the insured amount.* Of course they OFFER to replace it with like kind but once you give them a firm NO THANKS they get out the checkbook.

 

[MonkeysInk]

I have coverage for my e-ring through USAA and probably wouldn't wear it without the coverage. I have a watch that I will get coverage on as soon as I have it repaired (the band is in need of work, but I choked a little at the cost) and am wearing it again.

 

[Laila619]

Well I got rid of anything super expensive, so all my pieces are under 5k. I don't feel comfortable wearing anything more than that. So far I don't have insurance on anything. It's nice not having to pay that ridiculous jewelry premium.

 

[autumngems]

Only my 3.02 so far, I need to insure some others but I haven't had time to get appraisals yet. I have chubb

 

[Tacori E-ring]

I am so glad I had my wedding set insured because I did have to file a claim. It seems like the small premiums are worth the peace of mind. Jewelry can easily become lost or stolen.

 

[luv2sparkle]

I have only insured my e-ring. My criteria was quite simply that I would be sick if I lost something that had cost that much money. I wouldn't want to replace it out of pocket and I am not sure I would be able to get over it. It is about $600 per year. That is much less than we would insure a car for per year, so I am okay with it.

 

[that_someone_special]

Not all.. but most.
I did have an extra set of studs insured because I was going to have them reset but then decided to wait, so I'm still paying on it.

I pay like $100/ $10k though... I am thinking of dropping a few items because my premium is like $600 but with having a baby and all I have barely been wearing my stuff!!!

 

[NOYFB]

Anything worth over $500 is insured.

 

[Nyc2chigal]

It depends on the piece of jewelry. I have it, but only on the higher valued ones.
The rest, nope!

 

[Smith1942]

I have good insurance. It's a Chubb stand-alone Valuable Articles policy, which - as Ame alluded to - you can now only get with Chubb if you also have your homeowner's with them.

The great thing about this policy is that you do not have to itemize. It's blanket coverage. So, let's say half the value of my entire collection is insured. In the event of a catastrophic loss, they just write me a cheque for the insured amount. I don't have to choose, "Well, I'll insure this diamond necklace or that aquamarine ring." It's a moveable feast.

I only have half the value of my collection insured because it would be REALLY expensive to insure the full value, and also there's no point because there are a lot of items that are one-offs like inherited items which I could never replace. I have spent a lot of money on my jewellery and the half-value insurance would give me just about all of that back, I think. As I said, a good part of the value of what I have is for items I didn't spend out on myself.

I like my insurance; it gives me huge peace of mind. I have used it once, when I lost an earring earlier this year. Chubb was great; I just emailed them a link to a similar pair and they wrote me a cheque.

 

[pregcurious]

Yes because it is reflection of my personality. I am very conservative.

 

[diamondseeker2006]

I have good insurance. It's a Chubb stand-alone Valuable Articles policy, which - as Ame alluded to - you can now only get with Chubb if you also have your homeowner's with them.

The great thing about this policy is that you do not have to itemize. It's blanket coverage. So, let's say half the value of my entire collection is insured. In the event of a catastrophic loss, they just write me a cheque for the insured amount. I don't have to choose, "Well, I'll insure this diamond necklace or that aquamarine ring." It's a moveable feast.

I only have half the value of my collection insured because it would be REALLY expensive to insure the full value, and also there's no point because there are a lot of items that are one-offs like inherited items which I could never replace. I have spent a lot of money on my jewellery and the half-value insurance would give me just about all of that back, I think. As I said, a good part of the value of what I have is for items I didn't spend out on myself.

I like my insurance; it gives me huge peace of mind. I have used it once, when I lost an earring earlier this year. Chubb was great; I just emailed them a link to a similar pair and they wrote me a cheque.

Smith, I also have Chubb, but my policy is not like that at all. Mine has specific items itemized. As a result, I only have my ring, studs, and pendant on it (and I need to take the pendant off and put my asscher ring on there because it is worth twice as much!). It would cost too much to put everything on there. I would ideally like to insure everything over $5k, but currently I do not have it that way.