Our apartment got broken into last month and thankfully nothing major was taken but it made me realize how undercovered we are. I assumed our renter’s insurance would cover jewelry but apparently not unless you list each item separately with appraisals. Now that we’re engaged I’m paranoid about even taking the ring off. Tried looking into separate policies but the prices and reviews are all over the place. Anyone actually happy with theirs?
It took a break in to realize how naive I’ve been about insurance
byu/Frillyglucose1 inInsurance
Posted by Frillyglucose1
10 Comments
When you bought the policy, did you discuss coverage with your agent, or was the focus on what the policy costs?
Jewelry policies usually aren’t very expensive and if you have any jewelry with much value , you need it. Renters policies usually cover theft of jewelry for next to nothing, and you pay your deductible. Homeowners also has limited coverage. My company, renters covers 10k in theft, homeowners is 10k. And remember, the ring on your finger is exposed to theft risk.
There are a lot of companies that will separately insure jewelry, the main one is Jeweler’s Mutual. I have not personally used or worked with them but they seem to have a good reputation.
You need a personal articles policy. State Farm has a good one relatively inexpensive. Policies like this are great because it covers loss/theft worldwide not just your apartment.
Most policies usually do a small flat amount for jewellery and then for additional coverage beyond that, the piece you’re wanting coverage for can be separately listed with the amount they’re covered up to. Appraisals are very standard for this because they don’t want to over insure something like jewellery. So by appraising it you’re getting exactly the value of the piece. I’m happy with mine and the increase in premium wasn’t astronomical in comparison to the knowledge I’m protected just in case.
It is generally best to just add a rider to your homeowners or renters’ policy.
I went with Brite for mine it’s been totally worth it. I only pay about $8 a month, they have a $0 deductible and up to 125% of the value if prices increase. Honestly feels like one of those rare insurance things that’s actually fair and easy to deal with.
I went with Brite for mine it’s been totally worth it. I only pay about $8 a month, they have a $0 deductible and up to 125% of the value if prices increase. Honestly feels like one of those rare insurance things that’s actually fair and easy to deal with.
Ai bullshit
You should be able to add a rider to a regular policy that includes the jewelry.