Jewelry Insurance Claim

[Ferdelious]

So my wife lost a diamond earring, fell off one night unknowingly. I have them insured with Jewelers Mutual along with her engagement ring and my 3 watches. The replacement value isn't crazy, $6k. The value of the rest of the insured items is significantly higher.

The question is, do I make a claim and risk Jewelers dropping me? I've been reading threads lately where they are dropping people for no reason. Or do I put in the claim and see what happens. I don't have the option of adding a rider to my homeowners policy.

[RichM]

You have it. You pay premiums. You have a legitimate loss.

I would file the claim and let the chips fall where they may. It makes absolutely no sense in having it, if you’re not going to use it when it’s needed.

[Ferdelious]

Originally Posted by Rich Mickol

You have it. You pay premiums. You have a legitimate loss.

I would file the claim and let the chips fall where they may. It makes absolutely no sense in having it, if you’re not going to use it when it’s needed.

Good point but it was so cheap to add the earrings that’s why I did it.

I’m just concerned if I’m dropped I will have trouble finding a replacement for a reasonable premium. I’m not aware of many other jewelry insurers.


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[themast]

Originally Posted by rich mickol

you have it. You pay premiums. You have a legitimate loss.

I would file the claim and let the chips fall where they may. It makes absolutely no sense in having it, if you’re not going to use it when it’s needed.

+1

[Watchflair]

It's why you have insurance in the first place - can't fear putting a legitimate claim in.

[THC]

If JM does drop you State Farm has a personal articles policy that is just as good for same premium. State Farm is rock solid imo too

File your claim sir

[Watchflair]

Originally Posted by THC

If JM does drop you State Farm has a personal articles policy that is just as good for same premium. State Farm is rock solid imo too

File your claim sir

I actually just switched all my coverage from JM to State Farm - much less in premium.

[wesdaniel]

Originally Posted by Watchflair

I actually just switched all my coverage from JM to State Farm - much less in premium.

This. My State Farm premium is less than $6 per year per $1K of insurance and is way lower than JM premium.

There's just something about the equation that seems off.... I have insurance, but I don't want to make a claim because, if i do, I'm afraid I won't have insurance anymore. Why bother to insure to begin with?