Post # 1
So after a major scare today of not being able to find my ring (it fell into our top drawer in the box when fiance was putting clothes away)..i am looking for some supplemental insurance for my ring should it get lost, damaged or stolen. It is listed on our renter’s policy but is only covered if we have a break in or fire at home. We also have a dog and since i take it off each night before bed, I am worried that no matter how high up i put it, he will manage some way to get it down and out of the box and into his belly. Does anyone have any economical but pretty comprehensive insurance plans they could recommend?
Post # 3
Do you have a jewelry box to put your ring in? I put mine in its ring box each night. But if you’re worried that your dog will get that, why not get a regular jewelry box or put your ring in the ring box and put that in a top drawer somewhere.
As for insurance, I can’t help you there. My ring is covered under the home owners.
Post # 4
You can get a jewellery rider which is a stand alone insurance policy for just the ring itself. It’s probably the cheapest option. There is coverage for jewellery under most comprehensive homeowners/tenants/condo owners policies but it’s usually a limited amount.You might want to look at getting a more comprehensive renters policy that will include coverage against all perils.
Just go see an insurance brokerage and they should help you out : )
Post # 5
I have Jewelers Mutual for my engagement ring. Not sure how good they are for claims since I haven’t had to use it.
Post # 6
You can add a valuable property insurance rider on top of your renter’s insurance. I have one for about $2,000 worth of jewelry and it costs only about $3 a month I think with our other plans. We have USAA so it might be cheaper than some other insurance plans.
Post # 7
Another option is through Jewelers Mutual, which specifically insures jewelry. You can just google them to find their website. They cover loss, theft and damage. Depending on where you live, it’s about ~$10 for each $1000 your ring is worth. I have my ring insured with them and I feel much better and more relaxed. I was terrified about losing or damaging the ring. Whatever you end up choosing, it will give you the peace of mind :-).
Post # 8
If you rent or own a home, it will cost you like $30 a year to insure your ring through your insurance company. My ring cost about $3k… so it was great when I found out how cheap it was.
Post # 9
Like others have said, you can add your ring as a separate line item or rider on your renter’s policy. That’s what I did while I was engaged. I think mine was about $50 a year and covered everything – loss, damage, whatever. If you tell your insurance agent that’s what you’re looking for (an all inclusive policy) they should know right away how to set it up.
Wherever you get your policy from, be sure to ask about the differences in premium based on what your deductible is. When I switched insurance after I got married, it ended up being a very small difference per year between a $50 deductible and a $500 deductible, but the agent’s program defaulted to the $500 policy.
Post # 10
You can get an insurance policy through your car insurance policy! Or renters insurance. Make sure you research their offerings pretty well and ask lots of questions! I’m not even allowed to TOUCH my ring til we have insurance on it!
Post # 11
I just have mine through my car/homeowners insurer. I just called him up and said “I have an expensive piece of jewelry to insure, how do I do it?”
Post # 12
Mine is through my car/home insurance. I pay about $30 a month…but it gives me piece of mind.
Post # 13
Thanks for the feedback, I will definitely check with our renter’s insurance company to see if they have a more detailed policy that would cover loss or damage of my ring, and looking into Jeweler’s mutual can’t hurt either…I am kind of the clumsiest person I know and am always walking into things, slamming my hand in doors, tripping, etc..and beside the fact that I am forgetful and tend to misplace things, i’m also terrified that I will smash my ring up somehow! As it stands now, i have a platinum setting and its totally scratched up after lots of months of living with me..
Post # 14
FI was able to get a policy that covers literally ANYTHING (I’m clumsy, unorganized and irresponsible and yet he loves me anyway) as a rider to his renters insurance. He did have to do some shopping around, but it came in handy when I plummeted down a flight of cement stairs a week after getting engaged (again, I’m clumsy, unorganized and irresponsible). The diamond was fine but I bent a few of the prongs backwards which we were able to have repaired and reset free of charge (only has to pay deductable on the diamond).
Post # 15
ours is 80 bucks a year with usaa for 100% coverage
Post # 16
Please be aware with many of these policies that there is some small print. I am in the business and have done my fair share of jewelry replacement and working with insurance companies. Many of them don’t tell you that they only cover 80% of the replacment cost or that they will replace your diamond for you without you having any say in where it comes from or seeing it beforehand. Trust me, Ive seen it!! It is a nightmare!
In addition, if your appraisal is not done by a Graduate Gemologist, your replacement is subject to whatever the paper says regardless of if they graded it correctly. For instance if they graded your stone as a J color but it had some fluorescence which made it look whiter (but didn’t mention that) the jeweler replacing that can just give you a J color even if it doesn’t look as white….
So, my recommendation is Jewelers Mutual, I use them myself and many jewelry stores use them for their coverage as well…..