My 2 Cents on Insuance

[Holland]

I wanted add my two cents about insurance. My recent experience looking for insurance pointed me to Jeweler's Mutual.

I appreciate several things:
1. The ability to deal with Jeweler's Mutual directly.
2. The fact a live person answered the phone and transferred my query phone call immediately to the appropriate person. I was not forced into an endless maze of menu options.
3. The fact that "Travis" answered the phone immediately and provided well educated responses to my concerns.
4. The fact JM sells stand alone policies that do not require me to switch ALL of my insurance needs just to get jewelry coverage.
5. The ability to not have a deductible with Jeweler's Mutual. My homeowner's policy deductible would apply to jewelry should I choose them.

I am disappointed with the Chubb corporation's responses to my query. I could not deal with Chubb directly; I had to choose a local insurance brokers. Every insurance broker within 20 miles would not sell me the Jewelry policy as a stand-alone. Every one of them was rude and stated that Chubb would require me to have my house, car, boat, etc.. insured with them to access the jewelry policy. I am looking to insure my jewelry, NOT disrupt many portions of my life. I found it interesting that Chubb was trying hard not to take my money.

In the grand scheme of things, the ring is not overly expensive. When I told JM agent how much I was looking to insure, he responded as if we were dealing with the crown jewels. The Chubb representatives actually made impolite comments.

There is an emotional component to the ring I am looking to ensure that I do not have the words to express justly. I appreciate the ease in which Jeweler's Mutual openly provided information and access. I appreciate the time Jeweler's Mutual took with me to meet my needs.

That is my two cents. Thanks for looking.


Heather S
California

edited because I can't spell to save my life

 

[WinkHPD]

Heather,

Welcome to Pricescope and thank you for your comments! I am insured as a jeweler by JM and I have always appreciated their responsiveness when dealing with them and I have especially appreciated being able to refer my clients to JM for their jewelry insurance needs. Although I do not receive any compensation for doing this, I regard it as one of the services that we jewelers are able to offer to our clients.

The advantage as I see it to you over your homeowners is that JM will allow you to go back to YOUR jeweler for replacement, not insist that you deal through a replacement agency who may or may not be able to get you exactly what you lost.

Wink

 

[Modified Brilliant]

Hi Heather

Welcome to Pricescope.

I agree with Wink. My appraisal business is also insured with Jewelers Mutual. Jewelry and only jewelry is what they insure.

They understand the industry and have the right answers to your questions. I''ve had clients that were pleased with Chubb as well.



www.metrojewelryappraisers.com

 

[MECinVA]

Thanks for your post Holland. I just purchased an ering via James Allen and its on its way. Like you, I did not spend an enoromus amount of money on the ring, but I want it insured. Further, when I present the ring to her, I don''t want her to have to worry about going to get the ring insured through her homeowners policy. I, personally, think that since the ring, in effect, is a gift, she should not have to buy anything extra with it. Its like getting a toy at Christmas and not having the batteries to play with it.

Anyways, I have been looking at both Chubb and JM. I called the only two Chubb dealers in my area and both were very quick to tell me that they could not and would not insure just a piece of jewelry. I liked Chubb''s cash-out policy. In the end, I would never imagine not replacing the ring should anything ever happen to it. So, the only thing the cash-out option gives me is the ability to get the ring cheaper than what it is appraised for. Really, all I would want is to replace the ring not come out ahead. JM, when I called them were VERY helpful. So, I too am looking at going with them.

Thanks again for your posting. I think it has pushed me one step closer to JM.

 

[jasontb]

I am so temtped to post my 2 cents on insurance...but I have to meet the fiance (never type that word before - and I've only said it like 3 times) for dinner. Maybe tonight. Or maybe I will spare everybody.

 

[Holland]

Date: 5/25/2006 10:38:08 PM
Author: jasontb
I am so temtped to post my 2 cents on insurance...but I have to meet the fiance (never type that word before - and I''ve only said it like 3 times) for dinner. Maybe tonight. Or maybe I will spare everybody.

"only said it 3 times"...I think that means I owe you congratulations.

 

[niceguymr]

Contrary to numerous posts I''ve read, I found obtaining a ''stand-alone'' policy for Chubb to be as simple as calling a local Chubb agent and asking for it. I then purchased another ''stand-alone'' policy for my firearms collection. The agent was very friendly, willing, and able. He bound my policy immediately and I had all the paperwork in the mail within 2 days. So it suffices to say that obtaining my Chubb policy was quite pleasant... But then again, I also had a pleasant e-ring purchase through a local B&M vendor which also contradicts what many have posted here on PS. I guess I''m just lucky.

 

[Regular Guy]

Date: 5/25/2006 2:01:57 AM
Author:Holland

5. The ability to not have a deductible with Jeweler''s Mutual. My homeowner''s policy deductible would apply to jewelry should I choose them.

Heather,

Yes, welcome to Pricescope. I''m a semi-old dog here that can''t get away. Also, somehow, insurance is one of the topics that draws me in.

Regarding your homeowners, though you might be right, most I think allow you to add a non-deductible rider, which is what I did.

Much of what I think about insurance, I documented here.

With Chubb, like with all of insurance that is somewhat wacky, you have to go a certain route to get what you want. I just searched on Chubb and RockDoc to find this link to Bill Castro. Usually, RockDoc knows who you can go to for Chubb to get the insurance you want, because -- though you may get lucky, as apparently nicegumr did, going to a local agent -- it seems you can pretty reliably get their insurance by going to one of their agents that specialize in engagement ring insurance.

 

[butterfly 17]

Hi, I just wanted to chime in and say that I didn''t experience this problem with Chubb.

I just called them the same day I got the ring, explained I wanted to have it insured and was insured the same day over the phone.
They did not require an appraisal unless it was over $25K I was insuring.

I spoke to someonei directly , I called just one number and someone actually picked up the phone. I got transferred to the appropriate person as well, who also picked up right away.

Later on, I was able to add my wedding ring and a few other pieces and when I upgraded my stone and changed the setting (twice), I called them each time to change the description and therefore the value, and I did have any problems.

I also filed a claim when I lost a ring (a wedding band) and they did everything over the phone, I neve had to send them an appraisal, and I got my insurance check within 4 days of them processing my claim. So basically, I got the check about 6 days after making the initial phone call that I lost the ring.

Chubb must of changed their policies, because I definitely did not have any of the problems you and others have had with them.