(Closed) Having rings insured vs. warranty

posted 8 years ago in Rings
Post # 3
440 posts
Helper bee
  • Wedding: September 2011

That is really interesting that your rings did not come with an appraisal when you bought them. My center stone came with a GIA certification and apprasial for the whole setting when they were purchased. I know that for my insurance we had to have an appraisal and not a warranty.

I cannot say how much an appraisal should cost but there is no reason that they should have to keep it for a week unless they are having to take the stones out of the setting and ship them to GIA to be certified. I would definitely check what all is included with your appraisal.

Post # 4
1135 posts
Bumble bee
  • Wedding: June 2010

You should be able to get blanket coverage for the rings. You don’t need to have the ring appraised, just be able to pick an amount of coverage that will cover the rings.

Blanket coverage covers a value listed on the policy for any personal belongings that are of high worth, like jewelry or valuables. So if you get a $2500 blanket coverage endorsement on your homeowners policy, that $2500 will cover your ring or your grandmother’s heirloom earrings or whatever of value you can claim on it (depends on the company what is covered under a blanket endorsement).

What you are thinking of is scheduled coverage. That’s a coverage that covers only the items listed in the policy. So, only the ring. For scheduled coverage you have to have the ring appraised to get the specific amount of coverage for that one item.

Call your homeowner’s agent and ask about their options for blanket coverage endorsements for jewelry. It’ll save you the time and money for an appraisal. The endorsement I got covers my ring anywhere I wear it and I think it was an extra $75 or so a year for the coverage.

Post # 5
806 posts
Busy bee
  • Wedding: August 2010

One benefit of having your rings covered through insurance is, if you ever lose them (even if it’s your own fault) you can get them replaced.  The warranty wouldn’t be any help if you lose it or it gets stolen.

Are you sure your ring didn’t come with appraisal papers when you bought it?  If it’s a certified diamond with paperwork I’d be a little surprised if it didn’t. 

The topic ‘Having rings insured vs. warranty’ is closed to new replies.

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