Jewlery Insurance

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  1. Sorry I just noticed that I misspelled the word "Jewelry ". It has been a long stressful day for me. I am missing my diamond stud earrings. Luckily, I found it, then I decided to write a post regarding Jewelry Insurance around 1am :smile: Thank you again for all the information
     
  2. I also have my Love and diamonds covered by State Farm well worth it!
     
  3. #423 May 22, 2014
    Last edited: May 22, 2014
    Hello

    I recently had my engagement ring diamond reset and I'm having it appraised tomorrow for insurance purposes.

    Compared to most of you, I don't have a lot of extremely valuable jewelry. However, I have three other pieces that I'm considering adding, specifically scheduled, to my insurance policy. They were all purchased over the last 10 to 15 years and cost approximately $1000 a piece. They are diamond studs, a diamond locket and a three stone diamond band.

    Is it worth it to have them appraised and then put on my insurance policy? Are they worth enough? What do you have insured?

    Any thoughts are welcome would be greatly appreciated.
     
  4. I've had most of my jewelry pieces insured by "Jewelers Mutual" since it was highly recommended by the person who appraised my jewelry! Are you insuring your insurance from home owners insurance? If so, you may want to double check what they will offer you in writing and in print, just in case of lost or stolen jewelry! If your going to have your jewelry appraised with the appraisals documents, then just insure them so you have piece of mind! With the value of gold, precious metals and diamonds going up in value, its best to have them appraised so you can be up to current value. There was that incident with the girl who lost her Cartier Love bracelet in less than a week or two and didnt have insurance! GL with your decision.
     
  5. My lower cost jewelry items are covered up to 7500, and I insure pieces worth more than that. So for example, if I lost 1500 earrings, I'd pay my deductible but they would pay the rest.
     
  6. Def get it insured! Its gorgeous! :loveeyes::woot:
     
  7. How do I know which pieces of Jewelry warrant getting a formal appraisal done? Is there a certain dollar value that you would recommend doing it for?
     
  8. I think a formal appraisal is only needed if you want to insure the item, or sell it.
     
  9. I only appraise and insure pieces I couldn't afford to replace without hardship or severe annoyance lol.
     
  10. lol. Me too!
     
  11. Hello! Sorry if this gets wordy, I've gotten myself all confused.

    I just purchased a pre owned Tiffany platinum and pink sapphire band, and to my knowledge it is not going to come with original receipt etc. I would like to add it to my insurance along with my e ring and wedding band. For those, I just used the bill of sale to show specs and purchase price. Since this is pre loved, I am buying it for much less than it would cost to replace new should it get lost/stolen. Should I have it insured for the price I paid the consignment store, or get it appraised and have it insured for that amount (assuming it is higher)? The consignment price would not cover even half of buying a comparable ring new from Tiffany. Do appraisers/insurance take into consideration that it would cost more to replace than a similar ring because it is Tiffany? How does this even all work? Or, am I entirely wrong and it just needs to be insured for what I paid now, and then should anything happen I'm just out of luck unless I can find another for the same price?

    Sorry if these are obvious questions! I'm new at this. :shame:
     
  12. IF the appraiser is familiar with Tiffany and there is any proof of authenticity, they should be able to identify properly that it IS tiffany on the appraisal.
     
  13. You get it appraised and insure it for that amount.
     
  14. I am an insurance agent and you need to get it appraised and then insure it for the appraised amount.
     
  15. Hello all!

    How do you guys inside your more expensive pieces? (Ie tiffany engagement rings)

    Who do you recommend to get and avoid?
    Looking at jewelry mutual but seeing if there are other better options out there.

    Thanks!
     
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