Post # 1
I want to look into insurance for my ring. I currently live with my Mom and her boyfriend. My mom’s boyfriend owns our house and said no to putting a rider on his home insurance because it would raise it too much.. or something like that. Basically he doesn’t want to help me.
My mom said she hasn’t ever had to insure anything like jewelry before so she’s not sure of who to call, or where to look for insurance.
I guess would it be good idea to call our insurance broker for where my car insurance is through? Or should I go through some place like jewlers mutual?
Also, about how much do you think it would cost annually/ monthly? My ring was purchased for around $2000, not sure how much it would be appraised for.
Thanks for the help bees!
Post # 3
Try you car insurance policy. it really should not cost you any more per a month to insure the ring.
Post # 4
typically insurance 10 dollar per 1000 of appraised value
Post # 5
@mandigrl04: I have my car insurance and renter’s insurance from state farm. I added my ring insurance to it as well, and it costs about $160 a year. The price fluctuates based on how much your ring was appraised for.
Post # 6
Mine is through Jewelers Mutual.
Post # 7
My jewelry is covered under my renters insurance / car insurance…except for a few larger pieces (a few diamond rings and my old wedding band) I had to add seperately but through the same place, I had to provide an appraisal for those. It never hurts to have options, so call around and see who gives you the best price. My renters insurance only costs me about $20/month…I honestly don’t remember if that includes the extras because it’s all a direct debit to my checking account.
Post # 8
I agree with all the other posters above, if you have car insurance co and you should get a qoute to see how much it would be to add a rider to your moms BF’s house insurance anyways (I heard its really not that much if bundled with home insurance, and you could just give him the money to offset the cost). otherwise, Jewelers Mutual is great (thats where I got my ring insured). They have an easy online process of getting a qoute and applying.
Post # 9
My ring is insured through GemShield, which is specificially a jewelery insurance. It’s free this year from the jeweler where my Fiance bought the ring, but it doesn’t look like it is that much per year.
Post # 10
I went through Jewlers mutual. You have to get it appraised (cost me $90 at a local jeweler, but I bought online so I wanted that anyway). My ring appraised for 2500 (but we paid 1900). I didnt let him set the amount too high because you pay based on appraisal value, but he set it a bit higher since my ring is pretty unique and he looked to see how it would be replaced. He didn’t want me getting a check to replace that wouldn’t actually be able to replace it.
My premium on $2500 was $38 for the year. Totally worth it.