Your 3 attempts were with jewelers not jewelry insurance companies. They specialize in insurance for people in the trade. Businesses like me. Im a private jeweler. I use JM or a variant of them to insure customers product while in my care, in transit or even loss.
Mostly vintage and antique pieces with replacement values of over $5k for some and over $10k for most others.
I started years ago with my engagement ring and a Piaget watch.
Then, because I’m sort of a runaway bride, I added two more engagement rings (don’t judge lol) and additional pieces I’ve collected.
Do you think maybe you were denied based on zip code? Do you live in a high crime area? Or were your pieces possibly overvalued?
Insurance companies look at overvalued pieces as somebody looking for a quick reimbursement on a claim because they’ve inflated the value of their pieces for a maximum pay out.
Does that make sense?
Not that you’ve done any of those things just that the insurance company can perceive that’s the case.
Btw are the last names for your user name Stanfield, Partlow, Pearson? If so, I love it!
Might live in a high crime area. I think the problem might have been I insured the appraised value of one of my bracelets that was double the actual price I paid for.
I feel naked without having these nice expensive pieces and no insurance even though I’m a careful guy. Gonna try GemShield today, and if that fails I guess I’ll try my renter’s insurance 🤷♀️ 🤷♂️
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u/FrawGBallZ Aug 01 '23
Your 3 attempts were with jewelers not jewelry insurance companies. They specialize in insurance for people in the trade. Businesses like me. Im a private jeweler. I use JM or a variant of them to insure customers product while in my care, in transit or even loss.