JEWELRY INSURANCE?

[sledge]

I think for very special items that makes sense. For everything else though it isn’t cost effective to get an appraisal for every single piece. I would like to insure the whole lot but with JM it’s very difficult.

If you aren’t aware most homeowner policies have a small default amount for lower priced pieces. That coverage will vary from provider to provider. You can usually buy additional coverage if the default amounts aren’t enough. Things are more loose in regards to appraisals, etc. Also losses may affect homeowners policy pricing. It can be useful but should be used with understanding and caution.

 

[CaseyLouLou]

If you aren’t aware most homeowner policies have a small default amount for lower priced pieces. That coverage will vary from provider to provider. You can usually buy additional coverage if the default amounts aren’t enough. Things are more loose in regards to appraisals, etc. Also losses may affect homeowners policy pricing. It can be useful but should be used with understanding and caution.

Yes, my original question was about choosing between State Farm and JM. The standard SF homeowners policy only covers about $2k so I have a Personal Articles policy in addition to that to cover the rest of my items. I just wasn’t sure if JM would be better.

 

[sledge]

Yes, my original question was about choosing between State Farm and JM. The standard SF homeowners policy only covers about $2k so I have a Personal Articles policy in addition to that to cover the rest of my items. I just wasn’t sure if JM would be better.

IMO a separate policy is better. It keeps it separate from your home policy so if you experience loss or your homeowner rates don’t get dinged. Also, those riders may have higher deductibles — not always but you should ask and be certain.

That said, our higher value stuff we have a separate policy on through JM.

Similar deal with my guns. No way the default rider covers their value. So I maintain a separate policy. Initially I use purchase price to establish value unless I do a custom built gun. Then I update every few years. According to my wife I’m preparing for war (meaning I have a boatload of guns & ammo) so the task can be daunting but it’s not too bad once you get used to it.

 

[CaseyLouLou]

IMO a separate policy is better. It keeps it separate from your home policy so if you experience loss or your homeowner rates don’t get dinged. Also, those riders may have higher deductibles — not always but you should ask and be certain.

That said, our higher value stuff we have a separate policy on through JM.

Similar deal with my guns. No way the default rider covers their value. So I maintain a separate policy. Initially I use purchase price to establish value unless I do a custom built gun. Then I update every few years. According to my wife I’m preparing for war (meaning I have a boatload of guns & ammo) so the task can be daunting but it’s not too bad once you get used to it.

I need to confirm but my understanding is that my Personal Articles policy with State Farm is separate from my homeowners coverage so a claim won’t affect rates. The deductible is only $100 which is reasonable whereas my homeowners deductible is $5,000.