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Jewelry Insurance Premiums, part deux

nebe

Brilliant_Rock
Joined
Aug 22, 2007
Messages
954
Ladies and Gents, I need your help! I posted last week about this in The Hangout, but I hope you don't mind me trying again in a more business thread to try and gather some extra responses. Anyway, I have a statistics project to do but I'll spare you the boring details other than: I need 50 data points to use to construct a hypothesis test.

I've decided to do my project on the insurance rates for jewelry- So, this is where you come in! Would you be so kind as to comment with the number of pieces you insure and the yearly premium you pay? I don't need specific companies or monthly payments, just the premium total.

I'd be super grateful to anyone who is willing to contribute :wavey:
 

rubybeth

Ideal_Rock
Joined
Nov 12, 2007
Messages
2,567
nebe|1306255342|2929173 said:
Would you be so kind as to comment with the number of pieces you insure and the yearly premium you pay?
3, $32
 

Selkie

Ideal_Rock
Joined
Jan 11, 2006
Messages
2,876
3, $116
 

Circe

Ideal_Rock
Trade
Joined
Apr 26, 2007
Messages
8,087
5 pieces for $450.
 
Joined
Feb 24, 2009
Messages
214
1, $58
 

Selkie

Ideal_Rock
Joined
Jan 11, 2006
Messages
2,876
Nebe, are you taking residence location into account in any way? That may be a significant factor in pricing.
 

nebe

Brilliant_Rock
Joined
Aug 22, 2007
Messages
954
Selkie|1306259334|2929216 said:
Nebe, are you taking residence location into account in any way? That may be a significant factor in pricing.
No, the assignment is not so specific- which makes my life much easier ;))
 

diamondseeker2006

Super_Ideal_Rock
Premium
Joined
Jan 11, 2006
Messages
55,806
2, $280

Wouldn't the value insured be necessary in order to compare rates? I am not sure the number of items and price is meaningful at all.
 

Sheherizaad

Shiny_Rock
Joined
Feb 7, 2011
Messages
244
Not to make things complicated but.

At least 3 items, potentially up to 8 for $ 700 a year.

I have a $5000 coverage piece that is for any individual piece as long as the value is under $5k.
 

yssie

Super_Ideal_Rock
Premium
Joined
Aug 14, 2009
Messages
20,762
3, ~550?
 

nebe

Brilliant_Rock
Joined
Aug 22, 2007
Messages
954
diamondseeker2006|1306260584|2929238 said:
2, $280 Wouldn't the value insured be necessary in order to compare rates? I am not sure the number of items and price is meaningful at all.
Because the project is on the premiums paid on insurance, the value of the insured is not factored in :bigsmile:
 

Dancing Fire

Super_Ideal_Rock
Premium
Joined
Apr 3, 2004
Messages
32,091
0=$0..can't afford the premium.. ::)
 

yssie

Super_Ideal_Rock
Premium
Joined
Aug 14, 2009
Messages
20,762
Dancing Fire|1306281851|2929523 said:
0=$0..can't afford the premium.. ::)
but *can* afford to replace the pieces out of pocket should something happen - which I can't! :devil:
 

Dancing Fire

Super_Ideal_Rock
Premium
Joined
Apr 3, 2004
Messages
32,091
Yssie|1306282102|2929527 said:
Dancing Fire|1306281851|2929523 said:
0=$0..can't afford the premium.. ::)
but *can* afford to replace the pieces out of pocket should something happen - which I can't! :devil:
but $220 per $10k of coverage is.. :wacko: :nono:
 

megumic

Brilliant_Rock
Joined
Mar 8, 2009
Messages
1,647
$400 for 1 piece. We aren't homeowners so we cannot do a rider on our homeowners. Plus, we could not afford to replace it outright. If I wasn't such a klutz maybe we wouldn't need it.... :(sad
 

nebe

Brilliant_Rock
Joined
Aug 22, 2007
Messages
954
bumpidty bump thump? :halo:
 

vc10um

Ideal_Rock
Joined
Aug 22, 2009
Messages
6,006
3, $125
 

iota15

Brilliant_Rock
Joined
Mar 19, 2010
Messages
1,278
I've been quoted $354 for one item. I fully believe in insurance but I haven't bought it yet because I'm "appraisal-shopping". I know the price of diamonds has gone up but I don't understand how my piece is worth almost 2.5 x the value of what I paid. The premium's too high for me for just the one piece at the moment but I have some protection under our property insurance. On the other hand, I am sometimes terrified to lose it, so I'll need to appraisal shop faster.
 

dreamer_dachsie

Super_Ideal_Rock
Joined
Dec 16, 2007
Messages
24,364
iota15|1306434538|2930972 said:
I've been quoted $354 for one item. I fully believe in insurance but I haven't bought it yet because I'm "appraisal-shopping". I know the price of diamonds has gone up but I don't understand how my piece is worth almost 2.5 x the value of what I paid. The premium's too high for me for just the one piece at the moment but I have some protection under our property insurance. On the other hand, I am sometimes terrified to lose it, so I'll need to appraisal shop faster.
You certainly don't need an appraisal for 2.5x what you paid. The appraisal just needs to equal current market value. You can research *that* yourself on pricescope. You can also tell your appraiser you want the value based on online retail replacement, perhaps. I like a little paddingi n my appraisal so I don't need a new one every single year.
 

rosetta

Ideal_Rock
Joined
Jan 7, 2010
Messages
3,417
2, $770
 

Laila619

Super_Ideal_Rock
Premium
Joined
Apr 28, 2008
Messages
11,608
Man, I need to switch insurance companies. :(( Where are people getting such low premiums?!

2 pieces for $294.
 
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