Jewerly insurance

posted 3 years ago in Rings
Post # 3
Member
10219 posts
Sugar Beekeeper
  • Wedding: December 2012

Insurance plain and simple works like this…

IF something is valuable to you… be that for cost or sentimental reasons, you should insure it.

With full replacement cost at current value (time of loss)… you can replace it… even if that means having another made to be identical.

Different, than having replacement value whereby someone just cuts you a cheque for whatever was paid for the item when it was new.

We have full replacement value at current value on things of highest value, or we LOVE the most… so our house, furniture & appliances, my Rings, our Wedding Watches, other jewellery etc.  Other items & household goods… technology items, garden tools, linens, draperies, and personal effects (clothes) we just have regular replacement on… so if something was to happen we just take the money paid out and buy a newer model.  In most cases, the money given will be sufficient to replace whatever we need, as even bigger things go down in cost or technology changes drastically anyhow.

Hope this helps,

 

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