Engagement ring insurance?

posted 3 years ago in Rings
Post # 3
1503 posts
Bumble bee
  • Wedding: June 2014

I have Jeweler’s Mutual for my ring insurance. After hearing about so many rings being lost/stolen, insurance was a must for me.

Post # 4
903 posts
Busy bee
  • Wedding: September 2015

My ring is insured through a separate rider with the company that provides our car & renters’ insurance (American Family).  It’s ridiculously affordable (I honestly didn’t notice a change to our monthly premium) and it covers damage, theft, and loss with NO deductible!  I’ve already used it to make almost $400 of repairs to my ring; all I needed to do was speak with an agent and provide them with a cost estimate from the jeweler.  

Post # 5
2562 posts
Sugar bee
  • Wedding: March 2014

We got a rider on our rental insurance, though it will expire once we leave the apartment.

I do think it was something like 1,200 a year in total, but in the first year it was worth the peace of mind (a friend almost lost hers right before we got engaged, with no insurance and no money to replace) since the ring didn’t fit properly for a while. Now I never take it off (because… it’s sort of stuck haha).

If you have the money to replace it, I’d vote to skip the insurance and always have that money on hand. I will not let the cost of the jewelry rider surpass the cost of the ring, which is part of the reason I don’t want to continue with the insurance for another year.

Post # 7
11772 posts
Sugar Beekeeper
  • Wedding: May 2013

@menzies:  WHERE did you get that quote?! Mine is under our renter’s insurance.

It’s $42/year!

Post # 9
2675 posts
Sugar bee
  • Wedding: May 2014 - Madison, WI

I got Jeweler’s Mutual (Perfect Circle) insurance on my ring. I figure it’s worth it if any does ever happen. It’s only $25/year for me. That’s worth my peace of mind. My ring may not be worth as much as some I see on here but I sure wouldn’t want to have to pay the full price to replace it if anything did happen.

I don’t think anyone plans on loosing their ring. Things happen. I’ve known people who got injured and had to have their ring cut off. A woman who crashed into my car with her car spent an hour on the crash site looking for her ring which flew off her hand on impact. 

Post # 10
3265 posts
Sugar bee
  • Wedding: February 2014

I have Jeweler’s Mutual for my insurance. It was cheaper than putting a rider on my homeowner’s policy. It is DEFINITELY worth the money knowing that if anything should unfortunately happen to your ring, you’re covered.

ETA: I pay about $93/year for mine with no deductible. Through my homeowner’s policy it would be something like $120/year.

Post # 11
720 posts
Busy bee
  • Wedding: May 2015

We got ours through our renter’s insurance. I think our entire policy is $530/year, and we only have to pay a $100 deductable if something happens to my ring. That $530 also covers any damage or theft to any of our other belongings, so it’s not ring-specific. Before I was engaged, another Bee told me that she spent $86/year on her insurance and it covered just about everything, so it seems super affordable.

Insurance is a MUST, in my opinion. I am so scared of losing my ring or having it stolen – and if that did happen, I’d be out a hell of a lot more than $530.

Post # 13
329 posts
Helper bee
  • Wedding: December 2013

@menzies:  I live in canada, so it may be different here (if you are in the states). I pay about $100 a year extra as my insurance is a rider ontop of my home insurance. My fiance and I figured it out and I will be 90 before I pay as much as I would have to pay for a new ring. Totally worth it in my opinion!

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