Do you INSURE your pieces (love bracelets etc.)?
- Thread starter chanelqueenalek
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Definitely insure the bracelet! Most homeowners policies have special limits on jewelry - usually an aggregate of $2500 or $5K with limits per individual piece of either $500 or $1K.
Also make sure when you purchase the rider that all causes of loss are covered, including theft and mysterious disappearance. You are more likely to lose the bracelet, or have it stolen, than for it to be destroyed in a fire or some other peril.
Also make sure when you purchase the rider that all causes of loss are covered, including theft and mysterious disappearance. You are more likely to lose the bracelet, or have it stolen, than for it to be destroyed in a fire or some other peril.
All my jewelry is absolutely well insured, just updated our coverage to include all of last years purchases actually.
Loves aren't perfect, accidents and theft can still happen.
Loves aren't perfect, accidents and theft can still happen.
I have all my pieces insured. Mostly for peace of mind! Adding the love to the policy didn’t make it go up by much, especially along with everything else. So it was worth it to me!
None here, at a certain level of value / number of pieces it does not make sense to insure them. The insurance covers the loss / damage but also adds substantial profit for their business and their running expenses. Overall any insurance is a loss like playing the lottery. Okay you might argue not insuring is playing the lottery but doing the math it's not true.
I have to wholeheartedly disagree. We were robbed almost 2 years ago and they took everything we weren’t wearing to dinner that night.None here, at a certain level of value / number of pieces it does not make sense to insure them. The insurance covers the loss / damage but also adds substantial profit for their business and their running expenses. Overall any insurance is a loss like playing the lottery. Okay you might argue not insuring is playing the lottery but doing the math it's not true.
Insurance was a God send, we’ll never be without out after our experience.
You do not disagree with me. It's just like you won the lottery but generally speaking insurance is a loss.
I had a burgerly in one of my houses in the Bay Area and that was covered by insurance. However, combining what I paid for insurance the past 15 years or so for all my houses I would have been better if without insurance. This is why e.g. some railways are not insured.
Plain simple for a few pieces insurance makes sense but not for a large collection. This is plain math. If the value of being able to sleep with the piece in mind that is a different story with it may be worth paying for.
I won't share the specifics, but we fared much better with insurance than we would've without.
ETA: I include my bag collection, among other things. I recommend AIG if anyone wants a good recommendation
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Happened to me years ago. I was naive and didn’t know about needing additional coverage as was going through what was stolen and insurance rep said “you can stop since you met policy max”. 😳😳😳. They felt bad and waived deductible. I use Jewelers Mutual for my jewelry that’s over $5k. I don’t have alot but want that covered. Peace of mind.
I also agree about insuring your jewelry, etc. I lost my wedding set a year and a half after we got married. Thankfully, we insured it right away and insurance covered all of it, what it would have cost to replace it, not what we paid. So we actually got a little more and I was able to replace with a new wedding set. I was so thankful of that.
Also, I do insure all of my jewelry, even my Rolex. Gives me peace of mind.
Also, I do insure all of my jewelry, even my Rolex. Gives me peace of mind.
It's nominal to add items I've found, may as well insure all meaningful items.