Ring Insurance?

[sajetto]

My DF bought my engagement ring and matching band last year. However, we have not insured them. How did you insure yours? Seperate policy, or within home owner's insurance. I want coverage for loss, theft, or fire. Any advice or companies that you can reccomend? Thanks!

 

[MorganLeFey]

add a rider to your homeowner's policy.

 

[sajetto]

add a rider to your homeowner's policy.

Does it cover the ring if it is lost outside the home?

 

[Valentine]

Coverage differs from state to state.. but usually yes, it will.. but make sure when you speak with your agent that you specify this is what you are looking for... you want on premises and off premises coverage. Congratulations!

Kathy

 

[sajetto]

Thanks! I wasn't quite sure. I've never owned jewlery except for this. Is there a limit to the value that can be covered?

 

[disney junky]

You will likely need an appraisal and then you can insure it for any amount up to that appraised amount. Keep in mind an appraisal is often higher than what you paid for the ring. I pay about $7 per thousand dollar value as a rider to my homeowners policy. In other words, a $5000 ring would cost $35 per year to insure. My policy insures it against theft, fire, loss of stone, etc. anywhere, anytime. It's pretty standard to do.

 

[sajetto]

We got an appraisal all the way back in October and still haven't insured it I know, dumb.

I was just wondering if there was a cap on homeowners. I was given a brochure from the appraiser on a insurance policy exculsively for jewlery and other personal items. The max it would cover is $5,000 we need coverage for double that so I thought maybe a rider on homeowners would give me more breathing room for coverage.

 

[golfgal]

We have a no deductible policy that is separate from our home owners for things like jewelry, golf clubs, expensive art, musical instruments, etc. It is fairly inexpensive depending on what you insure and if you make a claim against that policy it doesn't go against your homeowners and thus your homeowners isn't subjected to higher rates as a result. The only thing I found that was really "expensive" was my hearing aids, which would have been about $250/year. This policy covers pretty much every kind of loss, damage, etc.

 

[ducklite]

http://www.chubb.com/personal/masterpiece_adv_vac.jsp

Anne

 

[Lisa loves Pooh]

Our is a rider on our home policy for my latest ring.

I lost my original 1 month before the wedding (terribly devestating!). We did not have insurance. Hubby didn't think I would lose it. Hubby got insurance this time around!

We have USAA--so that probably doens't help you much.

But I say kudos on the future purchase of it and congrats on the nuptials.

 

[sajetto]

Thanks Anne, I'll need to call and get a quote tomorrow and compare it to a rider on the homeowner's we are getting for our new house. I really appreciate all this help

 

[disney junky]

I have riders on my homeowners for jewelry, musical instruments and my kids' laptops because they are outside the home. Though my homeowners includes a deductable for the usual stuff around the home, it doesn't apply to items listed in the riders. Don't feel that you are negligent about not insuring them sooner. Lot's of people don't. A quick call to your insurance agent will give you answers. I never have filed a claim, so I have no idea if it would increase my premiums. They seem to go up every year anyway....I would look carefully at a "specialty policy" like they gave you with the ring. If the value is more than what they'll insure it for, it doesn't seem like the best avenue.

 

[sajetto]

Thank God I'm not the only one. I guess we kept putting it off because it was an extra expense, we were planning on buying a new home, we were sure of the best policy, yada, yada, yada......at least I haven't lost it yet and I pray I never do. I'd be crushed.

 

[Chris2597]

We have a rider on our Home Owner's policy....we also have USAA. We were required to provide an appraisal of the ring.

 

[minniecarousel]

Our DS scalled our State Farm Insurance Agent (we have homeowners & auto with him). He sold DS a policy that was very reasonable. Just the appraisal from the jewelry store was enough. He still needs to get renters insurance. At this rate, he'll wait til his room-mate moves out in July.

(Poor guy was so nervous about the ring - and losing it - he proposed and gave her the ring when they went to WDW last December. He wanted a romantic setting, but ended up giving it to her at the big tree in Epcot. He could relax and enjoy their vacation after that!)

 

[ZachnElli]

I have a rider on my home owner's insurance policy for my ring. We have to provide an appraisal too.