Reply to If you have significant jewelry where do you keep it - safe deposit boxes are not safe apparently

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]OP. Mom doesn’t have much disposable income but does have a lot of very valuable items. She tried getting estimates for appraisal and they were high. Sure she could sell a piece and pay for the appraisals but I don’t think I can convince her. I will inherit them but I am too poor to pay either. She has had them for decades. Brought from Austria and through a few house moves. Always at that bank I believe.

Will tell her to continue keeping at the bank and the few pieces at her home hidden. The only reason I started this thread is because I saw someone post the other day about a man getting contents of safe box at bank stolen and no protection or something. But I bet many keep valuables at the bank and few have appraisals? [/quote]

A straightforward appraisal will run you about $80-$100 per piece.  Appraise the most valuable pieces and get insurance on them.  [/quote]

It would probably be less per piece if you have multiple items. I was the executor of an estate and I paid a gemologist around $1,500 to appraise 40 items.

Shop around — you don’t need the best appraiser in town, you need someone certified that the insurance company will accept.

However, if you have a lot of high-value items, you should also see if the insurance company has a dollar limit on what they will insure without providing for additional security (it’s usually a couple of hundred thousand).  In other words, to get insurance, your mother may be required to keep the jewelry in a safe deposit box or acquire a security system for her house. [/quote]

I believe it is 5% of the home insurance value unless you get a special rider. [/quote]

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