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Where to buy insurance for your jewelry?

Discussion in 'RockyTalky' started by Legend, Aug 24, 2010.

  1. Legend
    Rough_Rock
    Trade

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    by Legend » Aug 24, 2010
    I have a ring that need to insure, can anyone let me know which company has good coverage and cheap premium please?
    I shopped at Statefarm, it is okay but i have to pay $61 application fees
    Jeweler mutual cost too much. I don't know what other company cost are, any suggestions? thanks.
     
    


    


  2. dreamer_dachsie
    Super_Ideal_Rock

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    by dreamer_dachsie » Aug 24, 2010
    I use Jewelers mutual and was happy with the premium relative to the coverage and what was offered elsewhere.

    But you should try your owon homeowners insurance, you can usually add a rider about the ring, specifically. If the ring is under $5000 you may not need to make it a rider at all on homeowners insurance, since anything in the home is covered (with conditions and deductible of course).

    Without homeowners insurance, most people seem to like freestanding insurance from JM, or Chubb (which costs more), because they either allow cash out in th event of loss (chubb) or allow you to replace your diamond and ring from the jeweler of your choice, essential if you own a branded cut or have an upgrade policy you wish to keep intact in the event of a replacement.
     
  3. Legend
    Rough_Rock
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    by Legend » Aug 25, 2010
    Thank, I checked them out and they are about same price as State Farm + application fees... Insure for $28k. My HO Ins quoted for $540 :( , Statefarm $335, JM I remember it was about $395
     
  4. Stone-cold11
    Super_Ideal_Rock

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    by Stone-cold11 » Aug 25, 2010
    For 28k coverage, $360 is not bad or about 1.3% value of your coverage. Mine was more like 2% and only covering for much smaller cheaper piece.
     
    


    



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