Post # 16
My home insurance already insured up to $8k of jewlery, and my e-ring is appraised around $7.5k so we didn’t have to do anything! From what I’ve heard it’s much cheaper and easier to do it through home insurance so i’d look into that!
Post # 17
punkybrewster: Their policy rider for branded items clearly states that for branded items you must re-buy out of pocket, submit a receipt, and you will get reimbursed. I remember that PS members post, and while I am VERY sorry for the circumstances she was in, the wording of her policy was clear (which she admitted in the thread she did not read until after she had to deal with it). They did settle her claim with her and actually ended up going beyond what they had to do in the policy to do so.
Yelp does attract the negative. One reviewer gave a negative review because they told her they would not send cash, she needed to get jeweler and pay deductible first. I mean, this again is in the policy itself – that JM will choose to repair, replace, or do cash payout and it is their option.
If you search for positive experiences, you can also, unsurprisingly, find lots of positive experiences (including on PS).
My sister did a claim through JM about a year ago. They resolved it quickly, she got a new ring, and that new ring is insured through JM.
Post # 18
After lots of research, I also insured with JM. It was going to be more for our homeowners rider and they didn’t offer the broad coverage that JM does, plus it was more expensive.
My mom lost her engagment ring many years ago and had homeowners rider coverage. They tried not to cover it at all because it was a mysterious disappearance. Finally they settled with her but not for as much as they should have and then after a very heavy snow storm that required some damage to the house to be repaired, the insurnace company cancelled them.
She now has JM and all of her jewelry is covered by them. We suspect that one of my little sister’s friends stole a diamond necklace out of my mom’s bathroom a year ago but could never prove it. It was covered by JM and replaced with exactly the same thing, same brand, same quality diamond, everything, no questions asked.
Post # 19
My homeowner’s insurance covers everything, including mysterious loss, and it was cheaper than JM. But, as mentioned in this thread, that isn’t always the case. So this is just one of those situations where you need to get a quote from both and compare coverage, making sure you totally understand what is and isn’t covered at what price. Also make sure you understand what kind of coverage you may already have for jewelery on your homeowners/renters policy.
Post # 20
Thanks everyone for your feedback!!
Post # 21
littleanchor: hi I’m new to this idea of not using your home owners insurance. I’m now thinking I should have a seperate policy for the diamond that i recently inherited and will wear as a rhr. That being said, what made you choose JM over another jewlery ins co?