Jewlery Insurance

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#376
1. Two carat heart diamond set in platinum
2. Platinum heart tag bracelet
3. Platinum heart tag necklace

*Once my Pandora bracelet is finished, I may consider insuring it also. I've been adding several gold charms and have a feeling it will end up mostly gold instead of two-tone like I began. :smile1:
 
#378
Only my engagement ring, a 2.52 solitaire. It's the only item I would not be able to immediately replace without insurance funds. I don't insure things that could otherwise be financially easy to replace. I'd rather give that $ to myself rather than an insurance company.
 
#379
If its worthy owning, its worth insuring. We insure everything. A guy I know had his home broken into, they stole his 8 Rolex watches. None of them were insured so all he got from his basic home owners policy was $2,000. Now he can't afford to replace everything, especially with price increases since he bought them. It would probably cost him about $50,000 to buy new replacements of everything.
 
#381
Candice0985 said:
^eek that would be horrible....

I only have insured:
1.22 fancy light yellow diamond ring
1.5 carat diamond studs

I should insure everything else, but it gets really expensive!
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It does get really expensive. But it's like the old joke...Why is it so expensive to get a divorce? Because its worth it!

The same goes for having good insurance coverage...just think of what the cost would be if you lost all of your jewelry through theft or a fire.:crybaby:
 
#382
Jetsetmax said:
It does get really expensive. But it's like the old joke...Why is it so expensive to get a divorce? Because its worth it!

The same goes for having good insurance coverage...just think of what the cost would be if you lost all of your jewelry through theft or a fire.:crybaby:
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it is true...I just can't justify adding $200.00+ per month to my insurance policy! I looked into Jewellers mutual as well and it was pretty pricey for everything I wanted to insure!

so I insured the pieces I couldn't replace right away and called it a day :D
 
#383
Candice0985 said:
it is true...I just can't justify adding $200.00+ per month to my insurance policy! I looked into Jewellers mutual as well and it was pretty pricey for everything I wanted to insure!

so I insured the pieces I couldn't replace right away and called it a day :D
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The cost of insuring a lot of good jewelry is brutal. However, I've seen so many bad things happen when people don't have enough insurance (I'm a lawyer) that I just can't chance it.
 
#384
Jetsetmax said:
The cost of insuring a lot of good jewelry is brutal. However, I've seen so many bad things happen when people don't have enough insurance (I'm a lawyer) that I just can't chance it.
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i guess when you're in this line of work you see a lot of bad things happen! i'll probably re-evaluate at the end of my policy cycle...
 
#385
I had all my jewelry insured for about 15 years and then decided to cancel it because I felt like it wasn't necessary. But now I bought the Love bracelet and diamond stud earrings and I am thinking I should reconsider.
 
#386
Lovefour said:
I had all my jewelry insured for about 15 years and then decided to cancel it because I felt like it wasn't necessary. But now I bought the Love bracelet and diamond stud earrings and I am thinking I should reconsider.
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I think its important to periodically review the value of your collection, and also consider any significant new pieces you have added in recent years. If the value is more than what you could easily replace if lost or stolen, then perhaps you want to get your collection, or significant pieces insured. Also, if there are significant pieces you do not wear often, get a safe deposit box at a bank. You can get an "In Vault" price for pieces that remain in a bank safe deposit box, and its significantly less than insuring everything and keeping it all at home. Although, then you have to go get those pieces from the bank if you want to wear them, also some policies have specific provisions about how much of the year they must remain in vault etc. Just food for thought.
 
#387
I have my diamond rings and my husband's watches insured. I thought about covering my Love bracelet but I never take it off and do not plan to so I probably will not add insurance for it.

 
#388
ChaneLisette said:
I have my diamond rings and my husband's watches insured. I thought about covering my Love bracelet but I never take it off and do not plan to so I probably will not add insurance for it.
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I know I have not taken my Love off in over a year and it has become such a a part of me I forget it's even on which kind of scares me. If it fell off I'm afraid how long it would take for me to realize. Do u know what I mean? Same with my earrings. My rings would never fall off. My necklaces don'e make me nervous either. I think I will look into it. Funny thing is the Love keeps going up so how do we keep up with that appraisal?
 
#389
Jetsetmax said:
I think its important to periodically review the value of your collection, and also consider any significant new pieces you have added in recent years. If the value is more than what you could easily replace if lost or stolen, then perhaps you want to get your collection, or significant pieces insured. Also, if there are significant pieces you do not wear often, get a safe deposit box at a bank. You can get an "In Vault" price for pieces that remain in a bank safe deposit box, and its significantly less than insuring everything and keeping it all at home. Although, then you have to go get those pieces from the bank if you want to wear them, also some policies have specific provisions about how much of the year they must remain in vault etc. Just food for thought.
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I agree I need to get a couple of pieces insured.
 
#390
Lovefour said:
Funny thing is the Love keeps going up so how do we keep up with that appraisal?
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Some policies will automatically increase the value of the item each year by I believe 5% for inflation. My policy does this, and while there have been times the item is insured for maybe a tad over the current MSRP or a tad under, but in general over time it evens out and most values on my items are very close to their current retail prices. Otherwise, it may depend on your insurance company and the agent (some may accept price found on the company's website or some other form of verification of current price, others may require an actual appraisal).
 
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