Do you insure your pearls?

[that_someone_special]

I got my pearls today. They came with a "Certificate of Guarantee" that states the quality of them and the replacement cost of $4900 (I paid $225). Am I supposed to insure these? Or just be excited that I didn''t spend $4900? Help? I mean, I know I would not insure them for the $225 cost, but to get them replaced if they were in a fire, or stolen, or whatever, I would insure for the $4900 price point? I''m confused!

 

[Miscka]

If you have homeowners/renters insurance, items up to a certain price will be covered (I believe, check with your agent). I do not insure my pearls, even though some of them are irreplaceable.

I would NOT insure them for the 5k. That is (IMHO) way inflated, and you will end up spending over the 225 in insurance, possibly within a year.

 

[that_someone_special]

Hehe ok! I just wasn''t sure..

 

[Skippy123]

I only insure what I can't easily replace. I mean if something happened to my freshadamas or other pearls I would be sad but paying ins on them is not worth it to me though and I don't wear my pearls all the time.

 

[that_someone_special]

Good point!!!

 

[D&T]

hmmm good question, if they were quite rare and super duper expensive then I may, but for the most part, my pearls (like my only two...lol) are very inexpensive so the money that I would think about putting towards premiums, probably just sock it away, and if something should happen (knock on wood) then I would be able to easily replace with that money

 

[brightlight]

Date: 8/21/2009 1:26:05 PM
Author: Miscka
If you have homeowners/renters insurance, items up to a certain price will be covered (I believe, check with your agent). I do not insure my pearls, even though some of them are irreplaceable.

I would NOT insure them for the 5k. That is (IMHO) way inflated, and you will end up spending over the 225 in insurance, possibly within a year.

I agree.

 

[Pandora II]

In a sense yes - I had my Miki''s valued and they came in at around the $3k mark each. Fortunately that is the value payable with my home insurance without a rider.

So, they are insured in that they are covered under my home policy, but I don''t have a seperate policy on them like I do with my e-ring etc