The Price of Chubb

[goldengirl]

...So is it expensive? Relatively cheap? Why should I get it over, say, a rider policy with my current auto/home/life insurance provider?

I kinda get the impression Chubb packs quite the premium wallop. For a relatively inexpensive ring (we''ll ballpark under 2K), does anyone know what the premium would be, "ish"? And is it worth it?

 

[abradabra]

I really liked Chubb because you need such a small amount of information to insure the ring. I had messed around on the Jewelers' Mutual website and found that the premium for my ring was the same between the two companies (but it sounds like other people didn't have that experience, so who knows). For a ring around $2000, I would imagine your annual premium would be under $50/year--maybe even under $30.

ETA: The Jewelers Mutual site estimated that $2000 in coverage would be $25/year. Even if Chubb was 10% more, that's still only $27.50--so I think it'd definitely be around $25-$30.

To answer your first question, it basically comes down to what you want in case of loss. Chubb cashes you out instead of just finding what they think is an equivalent piece. For "cut nerds" like a lot of the folks around here, getting to pick your new ring was important. My home insurance company and Jewelers' Mutual wanted independent appraisals before insuring (which my fiance didn't think to do before giving the ring), so I went with Chubb because they'd insure me right away and take the appraisal later.

 

[Mara]

mmmm lets see..to insure my ring it was going to be $160 a year with State Farm and with Chubb it was only going to be $200 a year. I think the estimate was something like 2% of the value for our geographic location.

So honestly I figured the extra $40 more was worth it since I liked Chubb's policy better (and their cutting a check way vs having to replace the ring).

 

[kaylagee]

We chose Chubb too... much better than what Allstate was offering. It''s about 300+ something (e-ring repl value 7,775) but there''s some extra blanket coverage for other items.

 

[reena]

ditto on why we chose chubb

my policy is through the roof expensive but a lot of that is because we live in NYC. I''d take a wild guess at $50 or below per year for $2k of coverage. the thing is, chubb may have a minimum amount that they will insure for a jewelry-only policy (otherwise they want you to get their homeowner''s insurance). you might want to look into that.

 

[Shay37]

Mine is about $140 a year. It''s more than some others with similar insurance. That''s due to the area of the country. So there are actually or three variables at work here. How much to insure for, where you live, and whether you want a cash-out policy or replacement with like kind. I wanted the ability to pick my own replacement.

Shay