Cost of insurance

[abbott]

What is the cost of your insurance for your jewelry?? I have my jewelry specifically listed on our home owners insurance and the cost is .94 per $100... seems quite expensive... What is everyone else paying?? I haven''t looked @ Chubb.. Can someone give me a rough estimate of what they charge??? Thanks!! Abbott

 

[afrodyt2000]

I am getting jeweler''s mutual, for the value of the ring (6970) the premium is 157 per year for where we live.

 

[baltneu]

Depends where you live.

Check out the threads on this one, it has been well discussed.

 

[Mara]

I second that one, baltneu...there are TONS of threads on this topic which could be very helpful!

good luck!

 

[mrssalvo]

seems low to me. I think chubb is something like $2.30/$100. I pay $1.30/$100 on my homeowners policy. you can probably find better #''s by doing a search. also, if you go to jewelersmutual.com you can enter your #''s and state and they will give you a quote.

 

[countingdown]

I am in the process of getting right now. My stone and setting cost me about 40k and the insurance is 787 per year through chubb.

 

[denverappraiser]

abbott,

0.94% is on the low end of the price scale but these things vary considerably with differences in coverage, address, claims history and the like. The high end seems to be about 3%. Not everyone wants the same sorts of coverage and rather like shopping for the diamond, it’s a mistake to look only at the price. Other big variables will include the claims procedure, the required deductible and what types of losses are covered. A discount on a policy that doesn’t have the kind of coverage you want is no bargain. On the other hand, many people count getting 2/3 of the coverage for half of the price to be a pretty good deal.

Neil Beaty
GG(GIA) ISA NAJA
Independent Appraisals in Denver

 

[claimsjeff]

Let me know if I can be of any assistance.

Thanks
Jeff Mills
Vice President Claims
Jewelers Mutual Insurance Co.

 

[norman_in_L.A.]

Hi Abbott:

Where you live makes a big difference in the premium that you will be quoted for a jewelry rider or policy. I am attaching a link to both Jewelers Mutual & Chubb. You should also talk to your home owners insurance agent, just to compare...........................because its only money!!


http://www.jewelersmutual.com/pj/formCalculatePremium.htm

http://www.chubb.com/personal/CSPCommunicationGateway?jadeAction=COM1


After you get the insurance write back and tell us what you did and if you can describe the experience.

Norman Monteau
Laboratory Director
[email protected]
AIG Labs http://aiglabs.com
American International Gemologists