Do you insure your rings/jewelry?

[butterfly 17]

Thanks guys.

I was just thinking whether or not it was worth it to insure or not, but I know there is no way I would be able to afford to buy my set again if I had to, at least not for a while and I probably would not even bother getting what I have now because it just would not seem worth it to me when I could get the same size, but lower color clarity/color for less money.

I think my premium from Chubb is high, I pay close to 1300 for just my e-ring and 2 wedding bands and I didn''t use the appraisal, I used the purchase price. I think it''s because I live in NY, even though I don''t actually live in NYC, but one of the boroughs.

But I lke that if I lose it, they will send out a check rather than try to get me a similar diamond.

I never ever take my rings off when I wash my hands. I like washing my rings anyway and then wiping them down with the paper towel. I feel they look cleaner!

 

[Ellen]

Date: 2/23/2008 11:17:51 AM
Author: isis~goddess
i am glad to know that i am not the only lazy person out there. sadly, i assumed my jewelry was covered under out home owners policy, but now im not so sure. i keep meaning to call and ask, but totally get side tracked. its really bad of me. i do think i need apprasials for everything though, and current ones, not the ? year old ones i have. what is the average appraisal price, 75 bucks? so that''s like 75 * 10. uh, so it would cost 750 dollars to have 10 things appraised? holy &&&^! i could buy a nice piece of jewelry for that money! see how i think, its trouble... i dont wear a lot of them often, so i probably woundt bother having them all insured. and the ones i got on a bargin, i could rule those out too. i guess i have to boil it down to the important ones and go from there.

Call around for pricing, and tell them how many pieces there are. Many will discount the more you have.

 

[Girlrocks]

My homeowner''s covers up to $3,000. For each item that is worth more than that, they are on a seperate rider attached to my home owner''s policy.

 

[isis~goddess]

good idea, never thought of it. nor did i think of how expensive it was to own jewelry once i decided i wanted to start collecting. these rocks are NOT the kind i used to collect out of the gravel driveway when i was a kid, thats for sure!!

 

[diamondseeker2006]

I think the only pieces that need insurance are the ones you''d not easily be able to shell out the money to rebuy if they are lost. So I''d never insure lower priced items. But once you are into the thousands, I wouldn''t exactly be happy about paying for a loss.

That said, butterfly, your premium is extremely high! I guess it is where you live. I have $24,000 of coverage with Chubb for under $300 a year! I would certainly do some price shopping to see if I could get a better rate even if it meant sacrificing the cash pay-out feature. I do carry about three other items as a rider on the homeowners. They are things I seldom wear but want the protection in case of theft. I do think someone had a good idea about getting a safety deposit box at the bank and putting in the items that are rarely worn rather than insuring them. I''ve just never gone to the trouble of doing that. But I think it is essential to insure expensive pieces worn daily. I think it is much more likely to chip a stone than it is for them to be stolen or lost.