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Jewelry Mutual vs. Chubb

arbd

Rough_Rock
Joined
Mar 24, 2014
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I have been reading these threads, but there is nothing new and many terms have changes - esp for Chubb.
Can anyone comment on which is better and why?
Ring is still being custom made, price paid is $20k, appraisal likely will be more. Will receive in 2 weeks.
We do not own a home so it would be Renter's Insurance which my particular one does not cover valuable personal property over $10k.
Thanks so much for your help.
 
I don't know if Chubb writes renter's insurance or if they will allow a valuable articles policy added to one or not. Have you already checked that out?

I have Chubb for jewelry and prefer Chubb because they will send me a check if my ring is lost, stolen, or damaged. I just like the ease of it. But there is more to consider when you are contemplating changing your homeowners or renters insurance to Chubb in order to get the jewelry insurance. My understanding is that they specialize in insuring higher end properties. I have never gotten a homeowner's quote from them, but it could be a more expensive option than others.

I will say that my Chubb jewelry policy rates were and still are less than JM, which is why I chose it in the first place. But that was back when you could get a standalone jewelry policy.
 
One more thing. Tell your appraiser that you don't want an inflated insurance value. Tell them exactly what you paid. It's okay for the appraisal to be a bit more than you paid to cover inflation for a couple of years. But you lose if the appraisal is greatly inflated by overpaying your insurance premiums for several years.
 
Chubb have a reputation for paying claims very easily and with a minimum of fuss. Not disputing legitimate claims is part of their shtick to high-end homeowners.

The key is to read the policy wordings for what's covered and what's not. In the US, this may vary by state, so you can't be certain of anything said here because it may not be valid in your state. Policy wordings matter. For example, if the Dinner Set Gang breaks into your house while you eat and takes the ring from your bedstand, is the loss covered? Maybe not. Some policies only provide coverage if the theft occurs from a locked safe or directly from your control, while others would cover this as a burglary loss.

As the prior poster said, don't insure a ring for more than it's actually worth. My jewelry insurer (which doesn't sell to US residents - sorry) accepts the receipt or invoice as proof of value. So I take the inflated appraisal from the vendor and toss it into the safe and pull it out only if the value of what I bought goes up and I need proof that it's actually worth more now. Of course, an inflated appraisal isn't proof of value to anyone except an insurance company.
 
Yes, Chubb accepts my sales receipts as well. I always insure for the amount I paid (when retail) since that is the amount it would cost to replace the piece. They offer me automatic inflation protection around once a year. I can increase coverage by 10% or more just buy checking a box (and paying the higher premium, of course).
 
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