Jewlery Insurance

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#93
Thanks for all your responses. I guess I better look into this. I would die if one of my studs fell out of my earrings.

How much does it cost to get an appraisaa? When I discussed this with my insurance agent she said the appraisals had to be done within the past 2 years. All my appraisals were done at the time of purchase and are way past 2 years. I also did not have to pay for the appraisals since the store paid for them when I purchased
 
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#94
honestly i was one the fence but my mother is so good about things like this. I recently just lost my 1837 T&CO ring in starbucks bathroom and thankfully I did what my mother said and had insurance... it is a must also for your handbags also . i might not have as much as many on here have btu it is mine and i would feel beyond terrible if i lost it all and had no insurance and had to personally buy every piece.
 
#95
sign_coachboi said:
honestly i was one the fence but my mother is so good about things like this. I recently just lost my 1837 T&CO ring in starbucks bathroom and thankfully I did what my mother said and had insurance... it is a must also for your handbags also . i might not have as much as many on here have btu it is mine and i would feel beyond terrible if i lost it all and had no insurance and had to personally buy every piece.
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OMG, I never heard of handbag insurance. How do you get that? Is it included in your homeowners insurance? I need to get on the ball with this stuff
 
#96
Loganz said:
Yes I do; it pays off too...I lost a .86ctw dia stud earring in NYC 2 years ago. I filed the claim, submitted photos of the matching earring, receipt from store, and they cut me a check within 2 weeks of filing the claim. I now have a matching set of studs again - at no cost to me.

To get the policy we added a valuable personal property rider onto our auto and homeowners policy. The monthly cost is negligble when compared to the cost of jewelry replacement. To be sure I get full value for my pieces, I did get independent appraisals for everything valued over $2500 ($2500 is their coverage payout without appraisal/no documentation needed). Obviously, you would want to know what your insurer's max payout is without documentation, and then get them the appraisals for all jewelry valued over that amount.
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Can I kindly ask you who you have your diamonds insured with?
 
#97
I always had just household insurance through American Family as well as my automobile.
When I had a tennis bracelet designed in November 2007, the jeweler gave me an appraisal that I immediately took to insure the bracelet. The replacement is over $4000 more than I paid; for peace of mind because I would have a nervous breakdown if I lost it or was stolen.
 
#99
I have a jewelry rider since our base policy only covers $6K.

I've never had to get a separate appraisal... most of my items are branded with authenticity papers from the store so I just send copies of those in and the purchase and the company covers them.

One thing to check is if your policy replaces with the same item/value... this is important if you have branded jewelry. For example, my policy is clear that if my diamonds are stolen/lost, that I get a Tiffany & Co replacement, not just any x.x carat replacement. Very important if you have Cartier, Harry Winston, VC&A etc... pieces.
 
#100
I do-and that's because my engagement ring is quite expensive. I have other jewelry and bags which I think I might consider putting under insurance too.

I have Tiffany sent out an appraisal of replacement value and that's all the insurance company really needs.
 
#103
Loganz is absolutely right. If you have a homeowner's insurance policy do not count on your jewelry being fully covered if you don't have the items scheduled seperately. In the state of NC, homeowner's policies only allow $1500 for jewelry and that excludes "mysterious disappearance or loss". You definitely need to have your items scheduled individually on your policy if you want them covered for their appraised value. You will need appraisals but it pays off. The costs is minimal to have each piece added to the policy. I have around $30,000 insured and it costs me about $175 a year.

Sorry for the long winded post. I am an insurance agent. :)
 
#104
ShelleyM said:
Loganz is absolutely right. If you have a homeowner's insurance policy do not count on your jewelry being fully covered if you don't have the items scheduled seperately. In the state of NC, homeowner's policies only allow $1500 for jewelry and that excludes "mysterious disappearance or loss". You definitely need to have your items scheduled individually on your policy if you want them covered for their appraised value. You will need appraisals but it pays off. The costs is minimal to have each piece added to the policy. I have around $30,000 insured and it costs me about $175 a year.

Sorry for the long winded post. I am an insurance agent. :)
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Not long winded at all. Thank you, I assumed the cost per year would be much higher. For peach of mind it sounds like it is worth the work to get the appraisals done and worth the investment
 
#105
tweetie said:
I have a jewelry rider since our base policy only covers $6K.

I've never had to get a separate appraisal... most of my items are branded with authenticity papers from the store so I just send copies of those in and the purchase and the company covers them.

One thing to check is if your policy replaces with the same item/value... this is important if you have branded jewelry. For example, my policy is clear that if my diamonds are stolen/lost, that I get a Tiffany & Co replacement, not just any x.x carat replacement. Very important if you have Cartier, Harry Winston, VC&A etc... pieces.
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very helpful advice, as I have pieces from Tiffany, HW, and Cartier. I really need to get on the ball with insurance for my pieces!!!
 
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