Deleted
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Aug 18, 2025 20:01:35 GMT
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Post by Deleted on Jan 27, 2015 23:26:44 GMT
Hi I have a hypothetical question for everyone here. If you had a valuable bracelet, you would have it appraised and it would be covered under your home insurance, correct? (Bracelet, watch, ring, earrings etc).
If you have a valuable purse or say more than a couple would you insure them, too? Let's say they were bought at the store in the last year, and are still in mint condition, and the owner would be very upset if they got stolen. The owner of said purses uses them as she bought them to use not just look at, but she is very careful with them.
Any advice?
Thank you.
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Post by Scrapbrat on Jan 27, 2015 23:33:22 GMT
There is usually a limit on items like jewelry. If you have a particular valuable piece, you'd have it appraised and then you'd get a rider to your insurance policy to cover that specific piece.
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basketdiva
Pearl Clutcher
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Post by basketdiva on Jan 27, 2015 23:34:37 GMT
I have bought a rider for my jewelry and electronics since my policy only covers a specific amount. I would check the policy limits and if the items are that valuable ( and there is proof of the value), add a rider for peace of mind. I would also check to see what the rider covers- loss from the home, vehicle or just plain losing the item.
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Post by susans sister on Jan 27, 2015 23:35:50 GMT
Read your policy and it should tell you. Usually items over a certain amount need to be covered under a separate rider.
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kelly8875
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Location: Lost in my supplies...
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Post by kelly8875 on Jan 27, 2015 23:44:19 GMT
It's not a simple answer, or the same for everyone. Read your policy, and call your insurance agent for rules.
We have to add endorsements for jewelry over a certain level, artwork, and other expensive items.
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Post by bianca42 on Jan 27, 2015 23:46:52 GMT
I know that I need a rider for jewelry over a certain $$ value. I assume it would be the same for expensive purses, but I'm a cheap purse kinda gal so I don't know what the purse-limit is in my policy.
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Deleted
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Post by Deleted on Jan 27, 2015 23:49:13 GMT
I was just wondering (Peas know everything...someone has experience with everything out there). I will call the agent and ask her. Thank you  |
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Post by eebud on Jan 27, 2015 23:52:06 GMT
I think the limit on my policy for jewelry was $2,000 or maybe $2,500. That was for jewelry, furs, cash and I can't remember what else it specified. I think there is a list of 5 or 6 items. I also think this is fairly standard for home owners policies in the U.S. I have had the same company for a very long time now but prior to this, I had policies with a couple of different companies and they were all pretty close to the same. The amount might have varied slightly. Either a rider or a separate policy is needed for anything over the specified amount.
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Deleted
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Aug 18, 2025 20:01:35 GMT
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Post by Deleted on Jan 27, 2015 23:57:20 GMT
Most home insurance will cover valuables up to a certain amount. Same with electronics. I think guns usually have to have a separate rider. I know my parents have a few additional riders - one for the guns my Dad has (two of them are fairly old and would be considered collectible), one for a couple pieces of jewelry as they are antiques and one is worth more than some of her rings combined are, and another for Dad's cars ('69 and '67 Chevelles). I'm sure you can get a rider for pricy purses too, especially if there's a record of them being worth several thousand dollars.
As always, stuff like this is better answered by the professional that serves your area.
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Post by cadoodlebug on Jan 27, 2015 23:57:26 GMT
It would also depend on your deductible. We have a $2500 deductible on our homeowner's and if I bought a purse that expensive DH would have me committed.  |
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Deleted
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Aug 18, 2025 20:01:35 GMT
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Post by Deleted on Jan 27, 2015 23:58:49 GMT
Most home insurance will cover valuables up to a certain amount. Same with electronics. I think guns usually have to have a separate rider. I know my parents have a few additional riders - one for the guns my Dad has (two of them are fairly old and would be considered collectible), one for a couple pieces of jewelry as they are antiques and one is worth more than some of her rings combined are, and another for Dad's cars ('69 and '67 Chevelles). I'm sure you can get a rider for pricy purses too, especially if there's a record of them being worth several thousand dollars. As always, stuff like this is better answered by the professional that serves your area. The record being the sales receipt? Those should probably go in the safe deposit box in case of fire, etc. |
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Deleted
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Post by Deleted on Jan 28, 2015 0:02:20 GMT
Most home insurance will cover valuables up to a certain amount. Same with electronics. I think guns usually have to have a separate rider. I know my parents have a few additional riders - one for the guns my Dad has (two of them are fairly old and would be considered collectible), one for a couple pieces of jewelry as they are antiques and one is worth more than some of her rings combined are, and another for Dad's cars ('69 and '67 Chevelles). I'm sure you can get a rider for pricy purses too, especially if there's a record of them being worth several thousand dollars. As always, stuff like this is better answered by the professional that serves your area. The record being the sales receipt? Those should probably go in the safe deposit box in case of fire, etc. Sales receipt wouldn't count but would help. I'm talking certificate of authenticity. If your friend really did buy a Coach bag or whatever, there's usually certificates of authenticity involved and you'd have to register the purse with the maker so they know who it belongs to. |
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Deleted
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Aug 18, 2025 20:01:35 GMT
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Post by Deleted on Jan 28, 2015 0:04:43 GMT
Ah ok. Yeah, there are all of those in the purses. (She has a bit of a ahem shopping problem when she goes to the US and they have better pricing on designer purses). Moral of the story, she does not shop in the US anymore especially Hawaii.
I will make sure "she" gathers them all together and puts them in the safe deposit box as well. Thank you for the information.
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mallie
Pearl Clutcher
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Post by mallie on Jan 28, 2015 1:10:31 GMT
Be careful with the riders. I checked into one for my mother and the annual cost was 20% of the appraised value. Which means that in 5 years, she would have essentially re-bought the collection again. Well, actually it would have been that she would have re-bought the collection at fair-market prices, which was far more than she paid for it (she was good at finding the dirty, hidden gem that just needed cleaning and minor repairs). Plus she would have been out the cost of the appraisal, plus the appraisal had to be re-done every 2 years.
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NoWomanNoCry
Drama Llama
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Post by NoWomanNoCry on Jan 28, 2015 1:35:33 GMT
My friend got insurance on all her scrapbooking stuff. I was curious how much her stash was worth but didn't want to be rude and ask lol
Girl I follow on YT has an extensive LV purse collection and has insurance on them.
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