LittleRiver
Shiny_Rock
- Joined
- Jul 25, 2011
- Messages
- 314
FI bought my engagement diamond last year just before the last major price increase. By the time the ring was on my finger, it would have cost about 20% more than FI paid to replace it. The vendor provided an appraisal value about 38% above that replacement cost. Given the crazy price increases we had seen while shopping for my e-ring, we went ahead and insured for the appraisal value.
Now, prices seem to have stabilized (and platinum is actually lower than last year), and it seems excessive to pay premiums on a figure 38% more than what it would cost to replace the ring today. But I'm having a hard time deciding what the right amount of coverage is. Should we insure for 10%, 20%, 30% more than what it would cost to replace today?
WWPSD?
Now, prices seem to have stabilized (and platinum is actually lower than last year), and it seems excessive to pay premiums on a figure 38% more than what it would cost to replace the ring today. But I'm having a hard time deciding what the right amount of coverage is. Should we insure for 10%, 20%, 30% more than what it would cost to replace today?
WWPSD?