State Farm Stand Alone, JM, or Chubb

[diamondseeker2006]

so i just spoke with liberty mutual (i have car and renters insurance through them). i don't have my actual appraisal yet so nothing has been finalized, but here's what they're potentially offering.

$27 a month for $15k coverage with no deductible. their normal policy is to find the ring for me using my gia report and appraisal. but if they can't find something i'm happy with they will also write a check so that i can find the stone i want. i told them i was buying a cushion and the cut can vary from stone to stone unpredictably and they seemed to be perfectly fine with me finding the stone myself.

i still haven't spoken with JM, but this first option doesn't sound half bad.

Do you mean $27 a month for 12 months ($324/yr.)???!! That is very high! I currently have around $25k covered on a Chubb policy for around $280 a year. Chief just posted that his Jeweler's Mutual policy is $195 for $13k. You'd be much better off at JM, it sounds like, unless you are in some very high premium area. (We had Liberty Mutual insurance for YEARS, and when we moved last summer, we easily found a homeowners policy that was 30% less than we had been paying at LM.) It really pays to compare rates on these jewelry policies.

 

[diamondjim84]

I pay 589 a year for 28000 in coverage on a ring. Chubb will not reduce the coverage to what I actually purchased the ring for. I just find it weird that you do not need an appraisal to insure it, but to change coverage, you do. My worst fear is that if I ever do need to make a claim, they will not cut a check for the insured amount. I read horror stories on this forum about that :/

 

[pregcurious]

Got the same info from Chubb. I have JM.

 

[MissStepcut]

We used Touchstone. It was very easy to do, didn't have to have any other policy with them and the broker (?) I spoke to was knowledgable about jewelry and works with BGD often.

 

[diamondjim84]

Funny, I just got off the phone with my Chubb agent..He asked if my house was insured with Chubb and I said no. He then asked for the value, then told me to leave Chubb and use another insurance provider