Chubb Condo: Fill & Download for Free

As Bill Wilson indicates, you can add a jewelry floater to the owner’s existing homeowners / condo / renters insurance policy.It may be possible to purchase a stand-alone jewelry policy, but will probably be difficult to find and most likely will be more expensive than added to a homeowners policy.Not all insurance is the same however. In terms of breadth of coverage, I believe that Chubb has one of the best written policies out there. However, Chubb is known for insuring fine homes and cars, and isn’t the least expensive option.Insurance is NOT a commodity, and decisions made on price often come back to haunt the buyer.Caveat Emptor.

What is the best #insurance company for jewelry?Like many insurance questions, the answer varies depending upon your needs.If you are a jeweler, there are very specialized coverages required. Sales people can have extensive exposure in a briefcase, not to mention your inventory if you are have one or more retail locations. There are insurance companies that specialize in covering jewelry businesses only.If you are looking to insure a small number of personally owned items, the best insurer would be the one that is insuring your residence: whether apartment, condo or home.Typically, you add a jewelry specific endorsement or rider (aka floater) to your residence policy. Normally that endorsement describes each item of jewelry and provides a replacement value obtained from jewelry appraisal or bill of sale.The cost of the insurance is based upon the value of the jewelry insured.As the value of your collection grows, or the value of a single item exceeds a certain amount, many ‘main street’ insurance companies get skittish. At this point it is time to move to an insurance company that specializes in insuring successful people.Companies that will insure a million dollars worth of jewelry, or a $100,000 ring are very good at what they do. The process is the same, but the coverage and service levels are much higher which comes with an elevated price tag. But you appreciate fine jewelry, so you understand the value of quality, right?These insurance companies don’t just insure your ring. They want to insure everything else (your home at a minimum) as well. This is because losses are high on jewelry (ask Kim K about that), and they want some less volatile risks in addition to the risky items.If you have an extensive jewelry schedule, or one or more very expensive pieces, the insurance company will expect that you have a very nice home as well. If your residence is average, but your jewelry holdings are off the charts, you will have difficulty getting quality insurance.You can count the number of insurers that provide policies like this on one hand. One of the best is Chubb.Good luck, and thanks for the A2A.

There are basically 6 different types of Homeowners policies. All of them have the same liability coverage; the difference is in property coverage:HO-1 Covers limited and named perils of loss to propertyHO-2 Cover expanded and named perils of loss ("Broad form perils")HO-3 Covers Structures against ANY cause of loss, if not specifically excluded (All Risks) ; covers personal property against broad form perilsHO-4 Covers personal property against broad form perils. No structure coverage. For renters.HO-5 Covers structures AND personal property against All Risks of loss. Basically an HO-3, but on steroids.HO-6 Structure coverage for condo owners. Covers that part of structure deemed by the condo to be owned by you against All Risks of loss; covers personal property for broad form perilsHO-7 Same as HO-3, but for Mobile HomesHO-8 For older homes which cost more to repair after major loss than home's market value. For older and historic homes with unique architectural features not easily reproduced from contemporary materials.The above forms are promulgated by "ISO," the Insurance Services Office, now incorporated and operating under the name, "Verisk Analytics." All of your basic, mainstream insurance companies use these forms. In addition to the forms, there are numerous endorsements which allow the forms to be "tweaked" one way or another.Finally, there are "bastard forms," being the independent filings of various companies who produce their own policies, written from the ground up. Most of these are designed for very high valued homes with special insurance needs. Pre-eminent among them is the "Chubb," who demands the most stringent underwriting and who delivers the most comprehensive coverage for those who qualify.And let's not forget "perpetual" insurance which has no expiration date. A classic example is BEI - Baltimore Equitable Insurance, who charges one premium "forever," sort of like the "forever" postage stamp. But not quite. A premium is charged whenever the policy limits change. Thus, as your home increases in value, and you add more coverage, you'll pay, for that -but only for the "extra." And here's the clincher: if and when you cancel, you get all your money back.Hope that helps.