Homeowners Insurance or Jewelers Mutual??

[NTave]

Forgive me if this has been asked before, Im new but have been lurking and gathering all your incredible info for months now. We are very close to purchasing a round brilliant AGS ideal H&A in a Tacori setting and I would like to know if its better to just underwrite in in my homeowners policy or go with a Jewelry insurance like JM??
I had JM insurance on a previous piece, but let it run out when I stopped wearing it as it wasnt worth that much to replace vs paying the premium for years and years..this particular stone and setting is much more pricey for us and I do need insurance to feel comfortable wearing it. Thoughts?

 

[nfowife]

If the policies are the same (replacement, deductible, etc.) I'd go with whatever is less. Which will probably be your homeowners. I have a personal valuable property policy for my e-ring with my homeowner's insurance carrier (USAA) but it is a standalone policy for that item of jewelry. There is no deductible and since I have lost my e-ring in the past and was very satisfied with how USAA handled it I went that route again. It was $100 cheaper per year for the same coverage.

 

[centralsquare]

I would look at prices / policies. I don't think there is a strict right answer...it's really what coverage / cost tradeoff works for you.

 

[pregcurious]

It will depend on your items, what type of coverage you want, and sometimes your total policy. JM has a steep discount for items you keep in a safety deposit box (suitable especially for heirlooms you don't wear). When I looked into USAA, they did not have this as an option.

 

[nope]

I just bought a policy from USAA the other night. Glad you had/have a good exp with USAA. I am paying roughly around 12 bucks a month for my gf's ring she doesn't know about

The process from USAA was painless

If the policies are the same (replacement, deductible, etc.) I'd go with whatever is less. Which will probably be your homeowners. I have a personal valuable property policy for my e-ring with my homeowner's insurance carrier (USAA) but it is a standalone policy for that item of jewelry. There is no deductible and since I have lost my e-ring in the past and was very satisfied with how USAA handled it I went that route again. It was $100 cheaper per year for the same coverage.

 

[centralsquare]

I just bought a policy from USAA the other night. Glad you had/have a good exp with USAA. I am paying roughly around 12 bucks a month for my gf's ring she doesn't know about

The process from USAA was painless

If the policies are the same (replacement, deductible, etc.) I'd go with whatever is less. Which will probably be your homeowners. I have a personal valuable property policy for my e-ring with my homeowner's insurance carrier (USAA) but it is a standalone policy for that item of jewelry. There is no deductible and since I have lost my e-ring in the past and was very satisfied with how USAA handled it I went that route again. It was $100 cheaper per year for the same coverage.

Interesting...USAA seems that it may even be cheaper than homeowners. Thanks for sharing!

 

[Amys Bling]

Great question. I've been wondering myself if I should switch to a separate policy or keep it on my homeowners.