quickie insurance question

[LikeDeIce]

Hi everybody,

I know there''s tons of insurance posts in the archives, but there is so many that I am having difficulty finding answers to the most basic questions. Any input is appreciated. The background is that I just got in a 1.14 carat engagement ring in a simple tiffany style setting for ~$6000. I don''t own a home, so getting supplemental homeowners is not an option, and I don''t have renters insurance because I have very few valuables in my apartment. On to the questions:

1) Companies I''ve heard of for insurance are Chubb and Jewelers Mutual. Is one better than the other, or is there another company that''s preferred over these?

2) Does an agent have to be close (ie, would I have to physically take the ring in) or can it be done by faxing a receipt, appraisal, and AGS report?

3) If an agent does have to be close, what are the options for people living like 35 miles north of Chicago?

Thanks in advance for the advice!

LDI

 

[niceice]

The head office for Chubb insurance is located in Chicago, so I imagine that it will not be difficult to find a representative in your area to issue a policy. I believe that Chubb will issue an engagement ring policy regardless of whether you have other items insured with them or not. State Farm will also issue individual policies for jewelry items as will Jewelers Mutual. All three companies have good reputations for jewelry replacement. Many insurance companies insist on seeing the item being insured to reduce fraudulent claims (for items that never existed).

 

[LikeDeIce]

Thanks for the input niceice, just in case anybody else was wondering, I just called Bill Castro with Chubb (who''s name i found by searching insurance on here) and he said that very recently Chubb has started requiring renters insurance and doing jewelry as a supplementary insurance.

 

[motownmama]

My jewelry is insured with Chubb. They do not have to see your ring in person. I had some studs dissappear a few years ago and they paid very promptly ($1600) with no hassle.

 

[LegacyGirl]

Date: 4/16/2008 2:39:24 PM
Author: LikeDeIce
Thanks for the input niceice, just in case anybody else was wondering, I just called Bill Castro with Chubb (who''s name i found by searching insurance on here) and he said that very recently Chubb has started requiring renters insurance and doing jewelry as a supplementary insurance.

Different agents require different things. I''ve had several tell me there were minimums of 10k, 25k, and even 100k with one agent.

 

[cectra79]

My ring was insured with Travelers. I happened to loose the ring, and I had no problems with them. It doesn''t matter where you are, they will insure you.
Good luck!