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Do you insure all your jewelry?

Dancing Fire

Super_Ideal_Rock
Premium
Joined
Apr 3, 2004
Messages
30,462
None!, IMO just waste of money.:silenced: and don't forget that every few years you'll need to update/reappraise your collection for insurance purposes = more fees.

Which one of my watches should I insure? I can only wear one at a time. I'll just go to the safety deposit box if I decided to change watch. I saved enough insurance money during the past 20 yrs to buy me a very nice diamond. I was quoted $260 per $10k worth of coverage. :knockout:
 

Nikki1415

Shiny_Rock
Joined
May 17, 2018
Messages
415
I will get a few pieces insured. I don't really have super expensive jewelry in the sense that I got good deals by hunting on ebay for hours and replacing them would cost a lot more than what I initially paid. I like to buy vintage, antique, and custom pieces that people did (I'm bad at designing my own things hahaha). I want to wear the OEC ring that I recently purchased and the antique ring that's my profile picture, but I will get them insured before I start wearing them everywhere.
 

Missie1

Rough_Rock
Joined
Jan 12, 2018
Messages
38
I insure anything that appraised over 5k. My e-ring, couple pair of diamond studs and all our watches. I feel comfortable wearing my jewelry knowing that I’m covered.
 

Jimmianne

Ideal_Rock
Premium
Joined
Dec 9, 2013
Messages
5,233
I insure anything over 5k, keep expensive stuff in the bank on a vault policy and everything at home goes into a between-the-studs wall safe.
 

missy

Super_Ideal_Rock
Premium
Joined
Jun 8, 2008
Messages
27,400
It sounds like I’m not crazy then not insuring everything...I’m going to take some things off the policy when I add my cushion halo...I’m definitely keeping my studs and engagement ring on..along with a few other things..but going to take a chance on the rest. Thanks everyone! :kiss2:
Honestly, from my perspective, it is just throwing money away on the smaller bling items. Depending where you live of course. For those PSers who live in areas where it is not expensive to insure I can see the rationale for insuring anything over 5K let's say. But for other PSers where it is more cost prohibitive it just doesn't pay over time (ie over 20 plus years or more).

I insure my ER just because I would not easily be able to replace her and I would want to replace her. My other bling well if g-d forbid it got stolen I would be OK not replacing if I couldn't afford to or did not want to replace because it is not bling I feel I must have like my ER if that makes sense.

And as with most things there is no one universal right answer here. It is based on your tolerances and disposable income. And I cannot tolerate or rationalize spending many thousands of dollars each year to insure my bling but I can rationalize spending 1K each year to insure my ER. Even then it would be challenging to replace her but at least I would have the funds to start my search.
 

OcnGypZ

Shiny_Rock
Joined
Dec 18, 2006
Messages
255
None of it. If I'm not wearing it - it's at the bank. I insure my fine art though - that's irreplaceable.
 

Mamabean

Ideal_Rock
Joined
Mar 31, 2018
Messages
5,105
Honestly, from my perspective, it is just throwing money away on the smaller bling items. Depending where you live of course. For those PSers who live in areas where it is not expensive to insure I can see the rationale for insuring anything over 5K let's say. But for other PSers where it is more cost prohibitive it just doesn't pay over time (ie over 20 plus years or more).

I insure my ER just because I would not easily be able to replace her and I would want to replace her. My other bling well if g-d forbid it got stolen I would be OK not replacing if I couldn't afford to or did not want to replace because it is not bling I feel I must have like my ER if that makes sense.

And as with most things there is no one universal right answer here. It is based on your tolerances and disposable income. And I cannot tolerate or rationalize spending many thousands of dollars each year to insure my bling but I can rationalize spending 1K each year to insure my ER. Even then it would be challenging to replace her but at least I would have the funds to start my search.
The answers have definitely helped me to come to a decision...I’m not going to insure my cushion halo ring when I get it..and eventually start taking items off except for my larger studs and ER...I do feel like it’s a waste....
 

rocks

Brilliant_Rock
Premium
Joined
Nov 13, 2003
Messages
595
Lol I love this
This. The only items I insure are those I am more likely to loose. Studs, line bracelets and pendant. Nothing else. We live in a doorman building, and have a key safe so even the staff have to break a numbered seal to sign out keys. So far, I've lost one stud and a ruby earring.
 

Dancing Fire

Super_Ideal_Rock
Premium
Joined
Apr 3, 2004
Messages
30,462
With my Chubb Homeowners, jewelry under $5K is covered (no deductible) - I have my over $5K stuff scheduled on a jewelry rider, but now that I've been married almost 25 years I don't want to think about what I've paid to insure my ER!!!! EEK!
Yeah those insurance premiums starting to add up after 10 yrs. ::)and after 25 yrs? :knockout:
 

anne_h

Brilliant_Rock
Premium
Joined
Jun 13, 2005
Messages
966
With my regular homeowner's insurance, it was relatively inexpensive to add coverage for jewelry. My policy covers only up to a certain dollar amount, so I don't have pieces that total more than that in my possession at any given point. Everything else is in a safety deposit box and I rotate as needed.

I live above street level in a secure co-op building with onsite concierge. Although I feel theft is less likely now than when I lived in properties with direct access from the street, I like not having to 'worry' if anything does happen.
 
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D&T

Super_Ideal_Rock
Premium
Joined
Oct 27, 2008
Messages
12,505
Homeowners rider for home theft... North of 5K on jewelers mutual (out and about) ...not all rings are insured... fingers crossed, hope for the besto_O
 

eapj

Brilliant_Rock
Premium
Joined
Jun 3, 2017
Messages
505
I don’t insure jewelry at the moment. When my husband and I bought my engagement ring, we were told to get insurance and we didn’t know any better. After 10 years I finally cancelled it. I don’t have the expensive pieces many of you do but if I lose something, so be it. And that could be part of the reason I’m comfortable without insurance. Plus, I live in a low crime area so I’m not the least bit worried.
 

StephanieLynn

Ideal_Rock
Premium
Joined
Feb 2, 2016
Messages
4,493
None of my jewelry is insured and I used to work in insurance and wrote my own policy. I became completely disgusted when DH lost his wedding band and I called my agent (we had it scheduled on our home policy) and she told me if we submitted a claim we would most likely be non-renewed. Wait, what?! Lived her 15 years, no claims (not even when the water heater burst and flooded two rooms) and the first thing that comes up they want to drop us.

So I took all my jewelry off and DH found his ring and everyone lived happily ever after.
 

Mamabean

Ideal_Rock
Joined
Mar 31, 2018
Messages
5,105
None of my jewelry is insured and I used to work in insurance and wrote my own policy. I became completely disgusted when DH lost his wedding band and I called my agent (we had it scheduled on our home policy) and she told me if we submitted a claim we would most likely be non-renewed. Wait, what?! Lived her 15 years, no claims (not even when the water heater burst and flooded two rooms) and the first thing that comes up they want to drop us.

So I took all my jewelry off and DH found his ring and everyone lived happily ever after.
I’m glad he found his ring! I decided to just keep what I have on there now..and not add my new halo cushion coming on Monday. I’m also going to take a few things off..I wish I had a safe but I found a great place to put my jewelry when I want to hide it. I also take my jewelry pouch with when we go away for a weekend. I’ll take my chances..
 

Missie1

Rough_Rock
Joined
Jan 12, 2018
Messages
38
I’m glad he found his ring! I decided to just keep what I have on there now..and not add my new halo cushion coming on Monday. I’m also going to take a few things off..I wish I had a safe but I found a great place to put my jewelry when I want to hide it. I also take my jewelry pouch with when we go away for a weekend. I’ll take my chances..
Have you ever thought of insuring items separate from your home owners with say Jewelers Mutual. Their rates are really good and no hassle when if you have a loss
 

Mamabean

Ideal_Rock
Joined
Mar 31, 2018
Messages
5,105
Have you ever thought of insuring items separate from your home owners with say Jewelers Mutual. Their rates are really good and no hassle when if you have a loss
I did think about it but I think it would be strange to have different pieces insured by different companies. My ering, studs and a few other things are on a separate personal property policy now...with the same company we’ve had forever...I heard Jewelers Mutual was good..
 

Missie1

Rough_Rock
Joined
Jan 12, 2018
Messages
38
I did think about it but I think it would be strange to have different pieces insured by different companies. My ering, studs and a few other things are on a separate personal property policy now...with the same company we’ve had forever...I heard Jewelers Mutual was good..
I have my ering and one watch on personal property rider on home owners. I got JewelersMutual on recommendation of my jeweler and I’ve Added everything else. The prices were much lower than what homeowners charged. DH lost his Rolex at the Marina and the process was so smooth. He had new watch within a month and no premium increases at all.
 

Dancing Fire

Super_Ideal_Rock
Premium
Joined
Apr 3, 2004
Messages
30,462
I probably save about $30k on insurance premiums in the past 20 yrs. $1500 per yr. avg X 20 yrs = $30k. I can buy me a very nice diamond with $30K.
 

Mamabean

Ideal_Rock
Joined
Mar 31, 2018
Messages
5,105
I probably save about $30k on insurance premiums in the past 20 yrs. $1500 per yr. avg X 20 yrs = $30k. I can buy me a very nice diamond with $30K.
Didn’t you just reset your wife’s 3+ carat diamond? You don’t have that insured? How did you get it worked on without insurance?
 

kmoro

Brilliant_Rock
Joined
Sep 13, 2018
Messages
1,076
I probably save about $30k on insurance premiums in the past 20 yrs. $1500 per yr. avg X 20 yrs = $30k. I can buy me a very nice diamond with $30K.
But you can only say this because you haven’t had a loss, right? It’s all good in hindsight.
 

Missie1

Rough_Rock
Joined
Jan 12, 2018
Messages
38
But you can only say this because you haven’t had a loss, right? It’s all good in hindsight.
I agree totally because when DH lost his watch I felt relieved knowing it was insured. Best money ever spent.
 

FireMonkey

Shiny_Rock
Joined
Jul 21, 2009
Messages
172
I insure through Jeweler's Mutual all pieces that would cost me more than about $5k to replace. I also have a vintage Native American necklace insured, as it's quite valuable. The premiums for my area are reasonable, thank goodness.
 

Missie1

Rough_Rock
Joined
Jan 12, 2018
Messages
38
I am concerned more about chipping or cracking a stone than theft. Insurance gives me the freedom to enjoy my rings. Do I sound like a commerical? Lol
Yes you do but I totally understand lol. Can’t even imagine if it was damaged and not covered yikes
 

Dancing Fire

Super_Ideal_Rock
Premium
Joined
Apr 3, 2004
Messages
30,462
Didn’t you just reset your wife’s 3+ carat diamond? You don’t have that insured? How did you get it worked on without insurance?
Yes, but why would I need insurance to have the stone reset? :confused:
 

Mamabean

Ideal_Rock
Joined
Mar 31, 2018
Messages
5,105
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