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re: Jewelry Insurance…. Is it worth it?
Posted on 5/3/24 at 9:16 am to MsState of mind
Posted on 5/3/24 at 9:16 am to MsState of mind
quote:
Property normally limits at $1500-$2500 dollars and doesn’t cover mysterious disappearance. Good advice though
its pretty bad advice for anyone in LA. your homeowners is the last policy you want to file a non act of god claim on. buy a jewelry/inland marine policy if its that important. you'll have better coverages too.
0
Posted on 5/3/24 at 9:24 am to hottub
Had a very similar situation. Wife’s grandmother had died and she wanted her ring as her engagement ring (great news for me 
). Like someone else said you can add a jewelry rider to your homeowner’s policy. Want to say it’s probably like $75-100 of my total yearly premium for about $45k worth of coverage.
). Like someone else said you can add a jewelry rider to your homeowner’s policy. Want to say it’s probably like $75-100 of my total yearly premium for about $45k worth of coverage. 
Posted on 5/3/24 at 9:24 am to roadkill
quote:
After 20+ years of marriage, bought the wifey a much nicer engagement ring w/3 emerald-cut diamonds - State Farm appraised and insured it - about 15 years later one of the diamonds apparently came loose and was lost - insurance replaced with a new comparable diamond. We continue to have insurance on that and added a nice pair of emerald-cut diamond earrings. I think it is worth it.
Just be aware depending on where you buy your jewelry from it might be "insured" for things exactly like this by who you buy it from.
Shane co. is where I bought my wife's engagement/wedding ring. Over the years shes had a few of the smaller diamonds fall out, they have always taken it and replaced it for free, lifetime guarantee on that, even the big stone.
Now this doesnt cover losing the entire ring, but as far as the diamonds themselves, it does cover that. Part of the reaosn I just bit the bullet and paid the massive markups they have at a place like shane co.
We also insured the rings earlier on in our marriage through insurance company but not any more, just have the shane co free diamond replacement policy for life now. So I hope she doesnt lose the whole set
This post was edited on 5/3/24 at 9:26 am
Posted on 5/3/24 at 9:45 am to ronricks
quote:
Appraisal on jewelry isn’t worth the paper it’s written on
Not all the time. A diamond of a certain size, cut, clarity, etc on a standard band is pretty easily valued.
Now Grandma’s gold necklace is another matter.
Posted on 5/3/24 at 9:49 am to hottub
I pay a few hundred bucks a year for a similarly valued piece. Going on almost ten years… Ask me again in a couple decades if it was worth it.
Like all insurance it’s peace of mind. If your wife is sporting this daily, then yes it’s probably worth it. If it’s stuffed in a safe, probably not.
Like all insurance it’s peace of mind. If your wife is sporting this daily, then yes it’s probably worth it. If it’s stuffed in a safe, probably not.
Posted on 5/3/24 at 10:40 am to hottub
Yes, it is super cheap, I have what is called a Valuable Personal Property policy from USAA for my diamond engagement ring and my watch. I need to update the appraisal on mine as the coverage is based on that amount.
Posted on 5/3/24 at 10:57 am to hottub
We use Jewelers Mutual. Our rule of thumb is any piece over $3,500 that is going to be worn at least a few times per year we insure. Rates are super reasonable. Premium is about $500/year for a little over 50k in "appraised" items. Women will inevitably lose shite.
Posted on 5/3/24 at 1:28 pm to hottub
Yes.
My mom has it on her big ring. Around $20,000 worth of insurance . And it’s not that much money annually for it.
She would say it’s worth it .
My mom has it on her big ring. Around $20,000 worth of insurance . And it’s not that much money annually for it.
She would say it’s worth it .
Posted on 5/3/24 at 1:56 pm to Lawyered
State farm calls it a personal articles policy. Separate from HO. about $70 a year. No idea of the details.
Posted on 5/4/24 at 4:17 pm to hottub
Safety deposit box
Posted on 5/4/24 at 5:29 pm to ronricks
quote:
Appraisal on jewelry isn’t worth the paper it’s written on. It’s only worth what someone is willing to pay for it and unless it has provenance connecting it to someone or something famous it will sell for maybe a third of that appraisal.
There is a generational reality that older women had more jewelry. There is a glut at estate type jewelers.
I think the next generations of people travel more and accumulate less. Jewelry is not how they store wealth or how they show appreciation.
Less children are born with each generation so giving jewelry to heirs is not guaranteed.
Posted on 5/4/24 at 5:51 pm to hottub
We added a rider for my wife’s wedding rings and some of her inherited jewelry to homeowners. Really wasn’t that much to yearly cost.
Posted on 5/5/24 at 7:11 am to Chad504boy
quote:
Might be cheaper to keep it in a bank safety deposit box
Until someone else using said institution or someone at the institution commits a crime and the feds seize ALL boxes and make you prove you arent a criminal to return it. They are now a terrible option.
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