safety deposit box/insurance?

[rainbowtrout]

I''m leaving my e-ring in a safety deposit box while I am abroad next year....and I am thinking that maybe I do not need to waste money on insurance for the next yr?

Has anyone ever had a safety depoit box broken into? Do such things even happen? (outside of films like Inside Man)

After that I''ll be in New York so I am going to def get some kind of insurance if I can (hopefully Chubb or the like). Although my ring +wb would only insure for 5500-ish, and I have heard they won''t insure a single item for that "small" a value.

 

[rainbowtrout]

Hmmmm, I have deduced from both the lack of replies here and from my FI''s skepticism on the matter that this was probably a silly question--I just remembered that people with very expensive jewelry keep it in a SD box and still have it insured/wear replicas, so I was curious.

 

[Sundial]

There are no silly questions on pricescope! I think some wealthy people who have very expensive jewelry keep it in a safety deposit box and just get it out when they want to wear it. They probably still have it insured since it does come out and could get lost, stolen, or damaged. If it were me and I just had my stuff sitting in a safety deposit box I would skip the insurance. There is always something that could go wrong I guess, but I would think it would be pretty unlikely.

 

[Sparkster]

My mum keeps her ''spare'' jewellery in a safe deposit box. Security is pretty tight. The one my mum''s is housed in is in the basement floor of a bank in the CBD. You go down the stairs/elevator to a counter where you need to sign in (the people employees are behind a glass counter). It''s very secure. She also keeps the title to her house in there as well.

 

[flower12]

Date: 8/30/2006 2:10:14 PM
Author:rainbowtrout
I''m leaving my e-ring in a safety deposit box while I am abroad next year....and I am thinking that maybe I do not need to waste money on insurance for the next yr?

Has anyone ever had a safety depoit box broken into? Do such things even happen? (outside of films like Inside Man)

After that I''ll be in New York so I am going to def get some kind of insurance if I can (hopefully Chubb or the like). Although my ring +wb would only insure for 5500-ish, and I have heard they won''t insure a single item for that ''small'' a value.

yes I have most my jewelry in safety box at bank.(I''ve using it for past 15years ) and so far no problem about safety issue.
half stuff is insured and other half is not.
I have one key and bank has one key and need to open the box by 2 key .
only one time had little problem that we couldn''t open the box because the key hole got damaged for long time use.
but we could open to the end and they changed to new box.
I thought cubb has insurance for more than $5000.
so how about to get new appraisal? since diamond /gold /Pt price went to up.
i

 

[fire&ice]

You can have your cake and eat it too!

I have many pieces of jewelry insured at "vault rate". It''s pennies on the dollar as far as insurance cost. When I take a piece out of the safety deposit box to wear, I call my insurance company. They change it for the time being from vault rate to regular scheduled rate. Save tons of money & when in the safety deposit box, I have peace of mind.

My insurance is with Allstate. Call you insurance company and see if they have such a rate for you.