How is a lost engagement ring covered under an individual jewelry policy thru renters insurance?
Several issues here… 1.) If you have a replacement cost policy then they owe for what it cost to buy the ring again for the average market retail cost. This would be the replacement cost value. I’m a property adjuster and I handle personal property specifically. We are not allowed to use ebay or sale prices because, like you say, we can’t guarantee that you’ll ever find it at that price again. However, you’d have to prove that it was worth $4000. You can do this by getting a copy of the appraisal. 2) Lost jewelry is generally not covered. However, theft or attempted theft is. 3.) Stolen jewelry is subject to a special limit unless you had it specifically scheduled on your policy. The max limit is normally around $2,500 or $5,000 depending on your policy. 4.) Your policy requires you to file a police report before filing a claim.
