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Do you insure all your jewelry?

Discussion in 'RockyTalky' started by Mamabean, Feb 28, 2019.

  1. Mamabean
    Ideal_Rock

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    by Mamabean » Feb 28, 2019
    Wow! You’re a brave woman!
     
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  2. Dancing Fire
    Super_Ideal_Rock

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    by Dancing Fire » Mar 1, 2019
    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: [​IMG]
     
  3. Nikki1415
    Shiny_Rock

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    by Nikki1415 » Mar 1, 2019
    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.
     
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  4. Missie1
    Rough_Rock

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    by Missie1 » Mar 1, 2019
    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.
     
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  5. Jimmianne
    Ideal_Rock

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    by Jimmianne » Mar 1, 2019
    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.
     
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  6. missy
    Super_Ideal_Rock

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    by missy » Mar 1, 2019
    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.
     
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  7. OcnGypZ
    Shiny_Rock

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    by OcnGypZ » Mar 1, 2019
    None of it. If I'm not wearing it - it's at the bank. I insure my fine art though - that's irreplaceable.
     
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  8. Mamabean
    Ideal_Rock

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    by Mamabean » Mar 1, 2019
    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....
     
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  9. vintageloves
    Shiny_Rock

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    by vintageloves » Mar 1, 2019
    No, just cheap! I don't have jewelry expensive enough to be worth the cost of insuring it.
     
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  10. MeowMeow
    Brilliant_Rock

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    by MeowMeow » Mar 1, 2019
    I completely agree. It was a pretty funny sounding sentence xD poor gold being all disposable now for me.
     
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  11. rocks
    Brilliant_Rock

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    by rocks » Mar 1, 2019
    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.
     
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  12. Dancing Fire
    Super_Ideal_Rock

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    by Dancing Fire » Mar 1, 2019
    Yeah those insurance premiums starting to add up after 10 yrs. ::)and after 25 yrs? :knockout:
     
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  13. anne_h
    Brilliant_Rock

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    by anne_h » Mar 1, 2019
    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.
     
    Last edited: Mar 1, 2019
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  14. D&T
    Super_Ideal_Rock

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    by D&T » Mar 1, 2019
    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
     
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  15. eapj
    Shiny_Rock

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    by eapj » Mar 1, 2019
    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.
     
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  16. StephanieLynn
    Ideal_Rock

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    by StephanieLynn » Mar 2, 2019
    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.
     
  17. Mamabean
    Ideal_Rock

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    by Mamabean » Mar 2, 2019
    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..
     
  18. Missie1
    Rough_Rock

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    by Missie1 » Mar 3, 2019
    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
     
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  19. Mamabean
    Ideal_Rock

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    by Mamabean » Mar 3, 2019
    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..
     
  20. Missie1
    Rough_Rock

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    by Missie1 » Mar 3, 2019
    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.
     
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  21. Jimmianne
    Ideal_Rock

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    by Jimmianne » Mar 3, 2019
    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
     
  22. Dancing Fire
    Super_Ideal_Rock

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    by Dancing Fire » Mar 4, 2019
    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.
     
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  23. Mamabean
    Ideal_Rock

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    by Mamabean » Mar 4, 2019
    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?
     
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  24. kmoro
    Brilliant_Rock

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    by kmoro » Mar 4, 2019
    But you can only say this because you haven’t had a loss, right? It’s all good in hindsight.
     
  25. missy
    Super_Ideal_Rock

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    by missy » Mar 4, 2019
    It comes down to this. How risk adverse are you and how much are you willing to spend on that aversion.
     
  26. Missie1
    Rough_Rock

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    by Missie1 » Mar 4, 2019
    I agree totally because when DH lost his watch I felt relieved knowing it was insured. Best money ever spent.
     
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  27. FireMonkey
    Shiny_Rock

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    by FireMonkey » Mar 4, 2019
    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.
     
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  28. Missie1
    Rough_Rock

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    by Missie1 » Mar 4, 2019
    Yes you do but I totally understand lol. Can’t even imagine if it was damaged and not covered yikes
     
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  29. Dancing Fire
    Super_Ideal_Rock

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    by Dancing Fire » Mar 4, 2019
    Yes, but why would I need insurance to have the stone reset? :confused:
     
  30. Mamabean
    Ideal_Rock

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    by Mamabean » Mar 4, 2019
    It could chip during the setting? I’ve heard of that happening..
     

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