Post # 1
Just curious. We have to sort out renter’s insurance soon. The agent recommended that my ring not be included in renter’s insurance (she recommended another type of insurance policy), but I think she was assuming that it would be a diamond ring (most diamond rings are worth a lot more than my ering). My ering’s stone is worth very little. The setting’s the valuable thing, as it’s platinum, and that cost about $1300. Given that jewelers tend to overappraise rings, I’m wondering if my ring’s worth insuring at all.
Post # 3
I know that my home policy has jewerly included for up to $2000. We purchased another rider off of it for $14000 to cover the loss of my wedding set. I think you should ask them how much jewerly is covered and exactly what that exactly covers. Good luck
Post # 4
maybe I can give you some perspective:
my ring appraised for about 2.5 times what DH paid for it (<$3000), we got it insured on a separate jewelry policy. his ring cost around $200. We felt that his ring was easily replaceable at that price so we didn’t insure his.
Post # 5
My ring is not insured for the opposite reason. The premium is just way more than DH and I are comfortable paying for a “just in case” scenario.
This is a decision between you and your DH. The question we discussed is what would we do if something horrible were to happen to my ring and it was uninsured.
Post # 6
I got mine insured through Perfect Circle. I have a .5ct total in white gold, which appraised for $2000 total (about 2.5 times what we paid for it), most of which is the gold setting. My premium is their minimum–$25/year. I’d insure it. I probably (personally) wouldn’t insure anything less than that because our premium is actually only supposed to be $20, but they have their minimums.
Post # 7
I have mine insured with the same company that does our renters insurance/auto insurace and they only charge us $4 a month to cover it…so I guess that is around $50 a year….and it would cost us around 6k to replace my set…so I say if you can get it cheap enough, go for the insurance.
Post # 8
@vorpalette: How strange…I use the same company and my annual premium is less. However it will go up once we add my wedding band with FI’s band too.
Post # 9
We did a rider for my ring and it went in increments of $5k, it was just added to our existing home owners policy.