My house was broken into and the bastards took a small safe with jewelry of my husbands mother (R.I.P.) I never saw the jewelry cause my husband is very sentimental and nevr showed it to me. All I know is that she had a lot of jewelry and a tennis bracelet worth $600.00 cause he bought for her (she had earrings, bracelets, necklaces, rings all gold. I know cause I inquired with the mom's sisters). The insurance lady told us to come up with a number but we just don't wanna make up a number that is too extravagant. What should we do or what is a decent number to come up with???
2007-10-26 07:36:16 · 4 answers · asked by arielle 3 in Business & Finance ➔ Insurance
it was just passed to my husband when his mom died.....
2007-10-26 08:59:09 · update #1
Well, if you are in the US, theft of jewelry is usually limited to $1,000, some policies have $2,000 if the jewelry is not scheduled. Your deductible will be applied. To schedule a piece of jewelry, there must be an appraisal dated in the last 3 yrs. You will need to have some sort of proof that this jewelry was owned by you. You need something to substantiate the value. Was there an appraisal done of all possessions when the estate was settled? Or, was the jewelry just given to your husband before she passed?
Are there any purchase receipts?
I recently lost a ring (I had an appraisal with a photo) that was scheduled and the claim went smoothly. I was even luckier that I found the ring about a month later & I gladly paid the money back! It was a ring passed down 3 generations that I had worn at my wedding for something old, REALLY sentimental.
I hope you reported it to the police. They probably wanted an inventory of what was stolen, if you have that, you will need to show that to the insurance company.
2007-10-26 08:25:20 · answer #1 · answered by Sue 6 · 1⤊ 0⤋
It doesn't matter. The standard homeowners policy has a limitation of $1200 for jewelry by theft - not $1200 per piece, $1200 total. So that's the max you'll get.
Go to the jewelry store he bought it from, they usually keep a record of all purchases. Then look at prices for similar items, and write them down. Use those numbers.
2007-10-26 08:56:10 · answer #2 · answered by Anonymous 7 · 1⤊ 0⤋
Unless you have separately declared the value of this missing jewelry (supported by a jeweler's appraisal) on your insurance policy, chances are you will get the 'flat fee' of coverage provided by your policy. This coverage varies anywhere from five hundred to a couple thousand dollars, depending on the policy.
For full coverage on personal jewelry, one needs an endorsement covering the excess value, supported by certified appraisals.
2007-10-26 08:45:07 · answer #3 · answered by acermill 7 · 0⤊ 0⤋
Let your husband figure it out!
2007-10-26 08:27:43 · answer #4 · answered by mrsdeli 6 · 0⤊ 0⤋