With what company do you have ring insurance - Jewelers Mutual; Chubb; Liberty Mutual; PLI Brokerage (sub of Chubb)

Original post by akaMrsT

Nov 04, 2004 11:39 AM

Who is your ring insured with?

I have gotten some high quotes and am curious to know who everyone else is using.

To insure my ring and 3 other pieces, Liberty Mutual wants $944 in addition to the homeowners portion.

Chub wants $720 just to insure the ring - but I can get a lower quote if I insure it for replacement value (actual cost of the ring) rather than retail replacement value. So, it would be about $920 to insure all my pieces with Chubb.

Jewelers Mutual will be about $736 but they request retail replacement value appraisals??? Is this unusual?

I am waiting on a quote from PLI Brokerage now but suspect it will be in line with the Chubb quote.

Thanks in advance for the info.

akaMrsT Posted: Nov 04, 2004 02:40 PM

Re: With what company do you have ring insurance - Jewelers Mutual; Chubb; Liberty Mutual; PLI Brokerage (sub of Chubb)

Posted by holly231

I work in insurance, and have never heard of retail replacement value..I have only heard of Replacement Cost Value and Actual Cost Value and you definitely want Replacement Cost...ask them to fax yuou a ciopy of the wording for Replafcement Retail...they should ahve a form that explains what that is, and also ask for a form that explaing Replacement Cost....Actual Cost value you do not want...and I do not think they offer that for Jewelry floater policies anyways...

Also, fi you have a safe, or a burglar alarm, they might give you credits on your premium...

Good Luck!

Okay, got my new appraisal numbers. Just as I suspected, the replacement values are much lower than the original appraisals.

I was insured for $15,400 when I should have only been insured for replacement value for my 2 bracelets and earrings

Now that I'm working with better numbers, I can get a decent quote.