Is there any PSer who does NOT insure ering?

[Dancing Fire]

Date: 2/25/2009 5:10:14 AM
Author: Deelight

Date: 2/25/2009 2:40:05 AM
Author: zhuzhu

Date: 2/25/2009 2:30:37 AM

Author: Dancing Fire

nope, it would cost me $190 to cover every 10K worth of jewelry.

I hear you. In SoCAl it is crazy expensive.

But what if something happens to your wife''s big rock?

That is cheap I won''t tell you what it costs me to insure my ring a year

that quote was 2 yrs ago. how much per 1k to insure jewelry in your area?

 

[gemgirl]

I wouldn''t be able to sleep at night if my ring wasn''t insured. As a rule of thumb, many jewelers have told me "if you couldn''t afford to go out and replace something that''s special and important to you immediately after you lost it, then insure it". Jewelry insurance is just like a lot of other insurances we pay for. Hopefully we won''t ever need to use it, but having it is peace of mind.

 

[VegasAngel]

Mine isnt. Eventually I will take care of that.

 

[MichelleCarmen]

Mine isn''t. I need to get it insured. Because of where I live, insurance costs are really low. My friend lost her 1 ct stone a few weeks ago.

 

[Inanna]

My insurance is through Jeweler''s Mutual and the cost for my area is $10 per $1k of value (per year).... totally, absolutely, 100% WORTH IT! I''d gladly pay 4 times that price.

Having been a victim of theft twice in the last 5 years, I think it would be insane to not insure.

 

[MichelleCarmen]

Date: 2/25/2009 3:31:19 PM
Author: Inanna
My insurance is through Jeweler''s Mutual and the cost for my area is $10 per $1k of value (per year).... totally, absolutely, 100% WORTH IT! I''d gladly pay 4 times that price.

Having been a victim of theft twice in the last 5 years, I think it would be insane to not insure.

Mine would be $11 per $1,000. . .ahhh, I just need to get my ring appraised.

 

[diamondseeker2006]

I don''t insure items worth under around $5000. I just insure the e-ring, diamond earrings, bracelet, and a couple of other items. I''m willing to take the risk of replacing less expensive items, but I want the peace of mind to know if I lose or shatter my 1.6 ct. diamond, it would be replaced. I definitely wouldn''t want to pay for it again!!! There are a couple of items I should remove from the insurance and move to a safe depost box since I never wear them, though.

Just a note..my mother''s original diamond shattered from some kind of impact that she had no knowledge of whatsoever. So it is not just theft or loss that would cause a need for a replacement.

 

[violet02]

Date: 2/25/2009 11:33:50 AM
Author: gemgirl
I wouldn''t be able to sleep at night if my ring wasn''t insured. As a rule of thumb, many jewelers have told me ''if you couldn''t afford to go out and replace something that''s special and important to you immediately after you lost it, then insure it''. Jewelry insurance is just like a lot of other insurances we pay for. Hopefully we won''t ever need to use it, but having it is peace of mind.

That''s a good rule of thumb I think. If I for example, lost my ring down the toilet my insurance would pay me for that. So I''d want that guarantee with my e-ring since I can''t go out and replace that due to how much it cost. But in re: to wedding bands etc, they are pricey and would be a hassle to replace but after say x years of paying insurance on them you''d have been able to buy yourself a new band. But I guess you NEVER know.

I have an additional blanket policy for misc items but that''s not very pricey to maintain.

 

[deegee]

I wore my original, uninsured e-ring for 12 years, and then demolished it in an accident. I replaced it with a much nicer ring, and made sure it was insured before I wore it. I had it for 6 months, and then noticed that I had chipped the stone (it had a thin girdle). I had my 2nd replacement ring for less than a year and knocked my stone loose in the setting. I might have lost it if I hadn''t been paying attention! One day at work I looked down and noticed that I had somehow broken the chain on my necklace in half, and the pendant was gone. I found it in my recycle basket after crawling around on my office floor. I''m too much of a klutz to risk not having insurance.

 

[Cind11]

I have all my jewelry insured that is above $1000. I''ve been thinking maybe I should up that amount a bit. But my e-ring will definitely always be insured. I would not want to shell out the cash to replace the stone and the custom setting if it was ever stolen.

 

[chrono]

No, because I have the cash to replace it. In addition, everything I don''t wear on that day goes into the safe deposit box. I am also a frequent customer of the safe deposit bank to rotate out my jewellery that I wear.

 

[Burk]

My e-ring and stud earring are insured. Everything else we could easily replace if lost, stolen, or if something should happen to them.

 

[diamondringlover]

I do have insurance on my ering, I insured it from the time I got it, I kinda look at like you insure you car and house and anything that is worth alot of money so why not insure you jewelry....my sister accidentally threw away her wedding set and an beautiful right hand ring (long story lol) and it was not insured, she threw away around 10.000, now to alot of people that might not be alot of money but to me and her it is...therefore I insure my ering, I pay about $10 bucks per thousand and I think it is worth every penny

 

[Bliss]

I would not enjoy any of my pieces if they weren't insured. Oy, that would totally annoy me not to be able to wear my ring anywhere I wanted, anytime I wanted to enjoy it. Same with the other sparklies!

I think the peace of mind is worth it. But yes, when the yearly bill comes - I do find myself wondering how many sparklies I could have bought with all the years of insuring the baubles.

 

[Deelight]

Date: 2/25/2009 11:31:12 AM
Author: Dancing Fire

Date: 2/25/2009 5:10:14 AM

Author: Deelight

Date: 2/25/2009 2:40:05 AM

Author: zhuzhu

Date: 2/25/2009 2:30:37 AM


Author: Dancing Fire


nope, it would cost me $190 to cover every 10K worth of jewelry.

I hear you. In SoCAl it is crazy expensive.


But what if something happens to your wife''s big rock?

That is cheap I won''t tell you what it costs me to insure my ring a year

that quote was 2 yrs ago. how much per 1k to insure jewelry in your area?

$40.56 per 1k to insure so it is not cheap.

 

[niccia]

I did initially, but then I moved out of province and didn''t bother.

Stupid, I know. I rarely wear it unless I am going out, and then I am super paranoid and checking to make sure the diamond is still there constantly.

 

[Dancing Fire]

Date: 2/25/2009 9:43:11 PM
Author: Deelight



$40.56 per 1k to insure so it is not cheap.

sooo...for a 20k e-ring that would cost like $900 per yr ?

X that by 40 yrs...

 

[Deelight]

Date: 2/25/2009 10:23:11 PM
Author: Dancing Fire

Date: 2/25/2009 9:43:11 PM

Author: Deelight





$40.56 per 1k to insure so it is not cheap.

sooo...for a 20k e-ring that would cost like $900 per yr ?

X that by 40 yrs...

yah mine is insured for a bit more then that but it is still underinsured due to the massive drop in the exchange rate.

Still I would rather that then forking out for the bauble again.

 

[Lulie]

Ditto, it's too expensive [$63.10].....we only ins DH watch & a solitaire of mine, the rest goes to a safe deposit, got that one free w/acct.

 

[LGK]

My e-ring and my right hand ring are insured, through JM. I don't have anything else insured. I ponder whether I should insure the rest or not, but haven't yet.

The uninsured items are a lot of miscellaneous other antique diamond whatsits (rings, watches, earrings etc.). The thing is, generally I bought the stuff for so cheap, it seems silly to get an appraisal for almost what I paid for some items, but yet, I couldn't replace them for anywhere near what I paid- hence, why I sometimes revisit the decision, but still haven't insured. For example, I have a platinum and single cut diamond wedding band- a 2mm one with 7 single cuts, and some pretty engraving- that I paid $80 for. An appraisal would cost $100, but yet, I would have to pay a LOT more to get another similar one. Or, I just got a pair of 2/3 cttw diamond stud earrings which are a surprisingly high quality (F/G VSish), that I paid $100 for... again, same cost for an appraisal, but replacing them would be way more expensive.

I'd kind of decided if I paid under $1K, I wouldn't insure... which is about what I have stuck to.

I would never leave the e-ring uninsured. I know myself way too well to forgo the insurance! Guaranteed I'd lose it the day I dropped insurance on it. I'm a huuuuge loser of stuff, which is why I very, very rarely remove the ring; I sleep with it, I shower with it, I clean with it, I only remove it to clean it and then put it right back on. I'm so much more likely to put it Somewhere Safe and lose it when I'm on the phone or something, than I am to damage it (knock on wood).

 

[violet02]

Date: 2/25/2009 10:23:11 PM
Author: Dancing Fire

Date: 2/25/2009 9:43:11 PM
Author: Deelight




$40.56 per 1k to insure so it is not cheap.

sooo...for a 20k e-ring that would cost like $900 per yr ?

X that by 40 yrs...

Holy **! Are you serious????

I just figured mine out. I pay $14.00 per every 1k of insurance.

I have a REALLY good deal on insurance though.

 

[Deelight]

Date: 2/26/2009 4:51:31 AM
Author: violet02

Date: 2/25/2009 10:23:11 PM

Author: Dancing Fire

Date: 2/25/2009 9:43:11 PM

Author: Deelight






$40.56 per 1k to insure so it is not cheap.

sooo...for a 20k e-ring that would cost like $900 per yr ?

X that by 40 yrs...

Holy **! Are you serious????


I just figured mine out. I pay $14.00 per every 1k of insurance.


I have a REALLY good deal on insurance though.

Yup, I can''t find another insurance company that will either replace with my choice of vendor of offer a cash out policy.

 

[Rhea]

Date: 2/25/2009 11:10:38 PM
Author: LittleGreyKitten

The uninsured items are a lot of miscellaneous other antique diamond whatsits (rings, watches, earrings etc.). The thing is, generally I bought the stuff for so cheap, it seems silly to get an appraisal for almost what I paid for some items, but yet, I couldn''t replace them for anywhere near what I paid- hence, why I sometimes revisit the decision, but still haven''t insured.

This has always been my conflict too. Plus, getting something appraised in the UK always seems to be a flat fee, say £40, plus 2-3% of the value of the item, which I feel inflates the appraisal and is a rip off. Everything I''ve bought in the US, kept the receipts, and just decided that I''ll see what happens with replacing something if I loose it.

 

[arjunajane]

Dee that does sound expensive

I would probably be in the same boat, if I didn''t receive a staff discount.
Mine is a bit under $600AUD year (almost $400USD), which is for home contents plus over 15k of valuables insurance (outside the home cover).
The valuables is where it all adds up, as that''s the highest risk.
Without the discount, I would be paying alot more.

This thread has got me thinking, and I see there are one or two things on my policy I''m paying for that I hardly wear atm. I am not one to lose valuble things, or lose things in general (touch wood). I mainly have the cover for damage..Perhaps it''s time to review..?

Unfortunately, I am also in the same boat as Dee that my ering is likely now under-insured due to the drastic drop in dollar value..I would like to have it re-appraiseed and increase the cover, but I''m scared of how much it will cost!

 

[Deelight]

Date: 2/26/2009 8:19:50 AM
Author: arjunajane
Dee that does sound expensive

I would probably be in the same boat, if I didn''t receive a staff discount.

Mine is a bit under $600AUD year (almost $400USD), which is for home contents plus over 15k of valuables insurance (outside the home cover).

The valuables is where it all adds up, as that''s the highest risk.

Without the discount, I would be paying alot more.


This thread has got me thinking, and I see there are one or two things on my policy I''m paying for that I hardly wear atm. I am not one to lose valuble things, or lose things in general (touch wood). I mainly have the cover for damage..Perhaps it''s time to review..?


Unfortunately, I am also in the same boat as Dee that my ering is likely now under-insured due to the drastic drop in dollar value..I would like to have it re-appraiseed and increase the cover, but I''m scared of how much it will cost!

AJ It is expensive the difference between my house & contents insurance and ring insurance is about $200 if that LOL

 

[Lynny0780]

Date: 2/25/2009 2:54:31 AM
Author: Dancing Fire

Date: 2/25/2009 2:40:05 AM
Author: zhuzhu

Date: 2/25/2009 2:30:37 AM
Author: Dancing Fire
nope, it would cost me $190 to cover every 10K worth of jewelry.

I hear you. In SoCAl it is crazy expensive.
But what if something happens to your wife''s big rock?

no worry, she don''t wear it

its in a safety deposit box.

btw; i don''t even buy flood insurance for my house.

she never wears it?
why would you buy a diamond ring or other jewelry just to keep in a safe all the time?

 

[arjunajane]

Date: 2/26/2009 9:43:35 AM
Author: Deelight

Date: 2/26/2009 8:19:50 AM
Author: arjunajane
Dee that does sound expensive

I would probably be in the same boat, if I didn''t receive a staff discount.

Mine is a bit under $600AUD year (almost $400USD), which is for home contents plus over 15k of valuables insurance (outside the home cover).

The valuables is where it all adds up, as that''s the highest risk.

Without the discount, I would be paying alot more.


This thread has got me thinking, and I see there are one or two things on my policy I''m paying for that I hardly wear atm. I am not one to lose valuble things, or lose things in general (touch wood). I mainly have the cover for damage..Perhaps it''s time to review..?


Unfortunately, I am also in the same boat as Dee that my ering is likely now under-insured due to the drastic drop in dollar value..I would like to have it re-appraiseed and increase the cover, but I''m scared of how much it will cost!

AJ It is expensive the difference between my house & contents insurance and ring insurance is about $200 if that LOL

I hear ya lovey!
It''s funny how we can have our whole homes and contents insured for ~ the same as one piece of jewellery - crazy right?!
But it does make sense, as you can imagine the valuables ins. is where most companies pay out claims, and also what is targeted by fraudsters

And so we pay the higher premiums because of others ppl''s sillyness..
Ah well, what can you do. I know I would be too worried not to have it, and personally I don''t see the point of owning jewellery you never wear!

 

[Dancing Fire]

Date: 3/1/2009 3:06:58 AM
Author: Lynny0780

Date: 2/25/2009 2:54:31 AM
Author: Dancing Fire

Date: 2/25/2009 2:40:05 AM
Author: zhuzhu

Date: 2/25/2009 2:30:37 AM
Author: Dancing Fire
nope, it would cost me $190 to cover every 10K worth of jewelry.

I hear you. In SoCAl it is crazy expensive.
But what if something happens to your wife''s big rock?

no worry, she don''t wear it

its in a safety deposit box.

btw; i don''t even buy flood insurance for my house.

she never wears it?
why would you buy a diamond ring or other jewelry just to keep in a safe all the time?

she does wear a lot of jewelry,just not the bigger diamond ring.

 

[Londongirl1]

I think the answer depends of what your ering is worth. If it''s worth less than $1000 then I wouldn''t bother. Replacing my wedding set would cost at least $7000 so YES you bet your life I have insurance!

 

[snlee]

My ering and other jewelry have never been insured. The cost to ensure them is too much and we could afford to replace it if something should happen to them.