Jewelry Insurance Premiums, part deux

[nebe]

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

 

[rubybeth]

Would you be so kind as to comment with the number of pieces you insure and the yearly premium you pay?

3, $32

 

[Selkie]

3, $116

 

[Circe]

5 pieces for $450.

 

[whatamiwithoutapurpose]

1, $58

 

[Selkie]

Nebe, are you taking residence location into account in any way? That may be a significant factor in pricing.

 

[nebe]

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]

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]

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.

 

[Dreamer_D]

1, $185.

 

[isaku5]

2 - $493.

 

[yssie]

3, ~550?

 

[nebe]

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

 

[Dancing Fire]

0=$0..can't afford the premium..

 

[yssie]

0=$0..can't afford the premium..

but *can* afford to replace the pieces out of pocket should something happen - which I can't!

 

[Dancing Fire]

0=$0..can't afford the premium..

but *can* afford to replace the pieces out of pocket should something happen - which I can't!

but $220 per $10k of coverage is..

 

[megumic]

$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....

 

[ImpatientOne]

3 $228

 

[fenix]

1 for $172

 

[nebe]

bumpidty bump thump?

 

[Phoenix]

4 items for $2,000.

 

[vc10um]

3, $125

 

[confusedaisy]

1 for $230 yr.

 

[iota15]

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_D]

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.

 

[yfzcentral]

1, $210

 

[sonnyjane]

I took stats once, so I sympathize

3 pieces, $96.

 

[rosetta]

2, $770

 

[gwennivere]

1, $92

Hope your project goes well!

 

[Laila619]

Man, I need to switch insurance companies. Where are people getting such low premiums?!

2 pieces for $294.