Re: Jewelry Insurance Question

SharkE · ‎08-19-2010

Our cheap O policy never went up ........mmmmmm strange. When we needed them we found out why it never went up they wasn't gonna pay for nothing anyway, so, we was paying 2,000 a yr (yrs ago) for

the fun of it.

jlkz · ‎12-02-2013

@SharkE

Last February while we were in FL, our 2020 red Sienna was totaled. Because of the impact of Hurricane Ian that destroyed Sanibel and North Fort Myers, we couldn't buy a used car anywhere.

New Siennas, whether here in FL or back home, wouldn't be available until the Fall. Repairs if feasible would not make it to the schedule until August. However, because all the air bags were deployed and the likelihood of unseen undercarriage damage once the van was examined repair was out of the question.

Long story short, we had opted for the more expensive value of the van and not the Blue Book ( ? ) value. Bottom line, the car insurance paid the full cost of a new van plus the cost of renting a van to drive home as well as all taxes.

Your idea to go with the top of the line insurance options will pay off but I hope you never need it. Be safe.

At our age, we went with a top of the line Subaru Outback XT with all the safety options.

We make a living by what we get. We make a life by what we give.
Sir Winston Churchill

SharkE · ‎08-19-2010

Glad to hear it ! If it seems to good to be true, it is !

No way, my deceased husband would pay what I'm paying, but, I don't want to have money in the bank and live in a ghetto.

He just wanted to save every nickel. There's a happy medium.

Ainhisg · ‎03-09-2010

@SilleeMee wrote:
If you have homeowners insurance, jewelry is covered under the personal property section but you need to check the limits and increase it if needed.

Yes, we have homeowner's insurance. I know there is some coverage, as he mentioned it. The policies don't go into effect until Tuesday, so we don't have the hard copy policies nor are they online yet for me to see. I will call him tomorrow to verify what the personal property section says.

Janey2 · ‎06-07-2010

I was told years ago only insure what would be a hardship for you to replace.

SaveTheTurtles · ‎10-09-2023

@Ainhisg I have jewelry as part of my regular homeowners insurance covered up to $10k and then I have our wedding rings and a ring I inherited from my mom scheduled separately so with that you pay so much per $1k of appraised value. If you are not wearing your jewelry and don't plan to it will be less expensive to keep in a safe deposit box.

Ainhisg · ‎03-09-2010

@SaveTheTurtles wrote:
@Ainhisg I have jewelry as part of my regular homeowners insurance covered up to $10k and then I have our wedding rings and a ring I inherited from my mom scheduled separately so with that you pay so much per $1k of appraised value. If you are not wearing your jewelry and don't plan to it will be less expensive to keep in a safe deposit box.

@SaveTheTurtles I am going to call tomorrow to see what amount is covered under the homeowner's policy. Then I could insure the more expensive pieces with the separate policy. Thank you for telling me that you do it that way. I have a safety deposit box, but I live in tornado alley so still feel like I would need insurance on any pieces kept there.

SaveTheTurtles · ‎10-09-2023

@Ainhisg wrote:
@SaveTheTurtles wrote:
@Ainhisg I have jewelry as part of my regular homeowners insurance covered up to $10k and then I have our wedding rings and a ring I inherited from my mom scheduled separately so with that you pay so much per $1k of appraised value. If you are not wearing your jewelry and don't plan to it will be less expensive to keep in a safe deposit box.
@SaveTheTurtles I am going to call tomorrow to see what amount is covered under the homeowner's policy. Then I could insure the more expensive pieces with the separate policy. Thank you for telling me that you do it that way. I have a safety deposit box, but I live in tornado alley so still feel like I would need insurance on any pieces kept there.

I hope my experience helps you determine how to do it. Yes, it makes sense to have all insured given where you live. Different insurance companies may work it differently too but your agent should be able to provide you with the best option for your needs. Good luck.

amyb · ‎04-05-2010

I think mine is not a separate policy but a "list" attached to my homeowner's. I don't know if I'm using the right terms. I have State Farm. I think it does have a term I can't think of now...

I had a similar situation to yours...not only do I have my own fine jewelry gifted or bought over the many years, but then inherited my mom's and I also have grandmother pieces too...and they hadn't been reappraised for about 20 years...so I did all that 2 years ago after mom passed.

To answer your question they advised anything over $500.00. My items had gone up substantially too, as 20 yrs is too long and also how gold had gone up.

Not sure what I pay, or how my policy works, but I think you only wanted to know about amounts I insured.

I don't put them in a safe deposit box because, while I don't wear it all all the time, I do wear a lot of it in rotation, and want access to it. If it's just there for "investment" and safe keeping, then that is a good idea.

annie-g · ‎04-20-2011

Get a Cannon upright gun safe, bolted to the floor. Best insurance policy there is. If u live in Texas or tornado alley. They will not move. Saved my jewelry from a home theft in Dallas years ago. Cannon brands are the best and if damaged in a fire or flood, the Company will replace the safe free. We were in hurricane Harvey in our second home and had 22 inches of water in the house and safe, and I got a bigger and brand new safe free, with free delivery. Can't beat that.