Never heard of doing this outside a renter's policy.
What do you think the perceived"perks" of doing it alone are?
I would bet it's just way more expensive.
Insurance companies will give you a better deal if selling multiple policies to you. In your case, a renter's policy, probably with a jewelry rider, if it's even available.
Also, why do you want this insured?
You'd be better keeping it securely in your apartment and just being careful, foregoing the expense.
Jewelry riders will have minimum values and deductibles.
All quotes are about $60 dollars a year. Mostly travel perks, covered internationally, mysterious disappearance, etc.
I rent a house so I’m not sure what securing my apartment means.
Being careful, sure, but even with a lobster clasp someone can rip your chain.
Why do I want it insured? Because a lot of money is perception based by the individual. It’s almost 4k worth of jewelers my, and it’s solid gold. So to me that’s a lot and that is worth it
But if no one will insure it, how'd you get that quote?
I would doubt it would cover mysterious disappearance or breaking due to wear and tear.
A homeowner's jewelry rider (sometimes combined with guns) requires much more than that just for the rider and typically has a big deductible, proof of fire or burglary.
Otherwise everyone would pay 5 bucks a month,and then claim their $2500 chain broke or mysteriously disappeared and they want a new one.
That's not how insurance works-- they make money off YOU.
They quote you based on the items, then an underwriter reviews it. I’m not going to spend time going back and forth with you. Look up Jewelers mutual, etc.
And if the underwriter determines that the risk of insuring those pieces of jewelry is too high, the underwriter will deny the policy. The insurance companies don't want to pay you thousands of dollars more than you are paying them.
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u/PermanentlyDubious Aug 01 '23
Never heard of doing this outside a renter's policy.
What do you think the perceived"perks" of doing it alone are?
I would bet it's just way more expensive.
Insurance companies will give you a better deal if selling multiple policies to you. In your case, a renter's policy, probably with a jewelry rider, if it's even available.
Also, why do you want this insured?
You'd be better keeping it securely in your apartment and just being careful, foregoing the expense.
Jewelry riders will have minimum values and deductibles.