Insuring my E-Ring

posted 2 years ago in Rings
Post # 2
Member
2791 posts
Sugar bee
  • Wedding: May 2015 - Walnut Hill Bed & Breakfast

Can you not be added to the home policy? I would think that would be a pretty usual occurance.  My dad had no trouble insuring my ring on his insurance policy when i was living with him. Then when I got my house, I switched it to mine.

Post # 3
Member
1538 posts
Bumble bee
  • Wedding: August 2015

I have a separate policy for my ring. It is through a company that offers policies for jewelry. It is called Perfect Circle. It is affordable and covers all sorts of things, loss, theft, damage, etc. Highly recommend it! 

Post # 4
Hostess
9919 posts
Buzzing Beekeeper
  • Wedding: May 2014

NovemBride1415:  You should be listed on the home policy. If they’re not covering posessions that aren’t his and you’re living there that’s a problem.  Should there be theft or fire all your property would be excluded from coverage by that logic and that’s not good!

Post # 5
Member
346 posts
Helper bee
  • Wedding: October 2015

I always wondered about this….It may be a silly question,  but how much should your ring actually be worth if you decide to insure it?  I have been thinking of doing the same but not sure if it’s worth it

Post # 6
Member
4641 posts
Honey bee
  • Wedding: September 2014

We added a rider to our homeowners insurance, specifically covering the engagement ring. We’ll be adding another one for our wedding bands, the peace of mind is worth it to us.

 

Post # 6
Member
1538 posts
Bumble bee
  • Wedding: August 2015

kitty_cupcake:  I would insure if you couldn’t afford to just go out tomorrow and buy a new one if something happens to it. You insure it based on its value, so its less expensive if you have a less valuable ring. Technically, we could afford to go out tomorrow and replace my ring if something happened to it, but who wants to shell out that kind of money again? I’d probably insure anything over a few thousand dollars. I have other more expensive than normal, but not worth over a thousand dollar pieces that I don’t insure. But, if i lost those, I’d be sad but I wouldnt feel the need to go out and replace them. 

  • This reply was modified 2 years, 1 month ago by  littleanchor.
Post # 9
Member
4641 posts
Honey bee
  • Wedding: September 2014

NovemBride1415:  I wasn’t on our mortgage when we had the rider added! We’re with State Farm, maybe speaking to someone else may help.

Also, State Farm is a good option because if something happens to your ring you can replace it through a jeweler of your choice, this was important to me because we have a relationship with our jeweler. Some companies will not issue you a cheque and require you to work with one of their recommended jewelers.

Post # 10
Member
1532 posts
Bumble bee
  • Wedding: August 2013

kitty_cupcake:  Ask your homeowners/renters insurance what your jewelry coverage is for a single item. I think mine was $1,000? To replace my ring I’d need about 3 times that amount. To insure my ring for $3,000 costs like $50 a year if I round up. So I’m gonna be close to dead before I’ll have paid my insurance the cost of replacing the ring. Seems like a reasonable investment to me. I think it’s worth it.

Post # 11
Member
13020 posts
Honey Beekeeper
  • Wedding: June 2011

kitty_cupcake:  If it’s worth more than you are comfortable replacing out of pocket.  For us that threshold for 5-6k, which my e-ring exceeds, so we insure it.  I have a RHR that I bought for $1500, but didn’t insure that.  My wedding band isnt insured either. It’s really just if you’re “ok” with the loss and can replace it on your own vs how likely you think something will actually happen to it.

NovemBride1415:  That odd.  Personally, if that were really the case, I’d lie and say it was his.  If he wants to pay to insure anything, I find it hard to believe ins company actually verify who it belongs to.  They did not ask for any informatino from us about who it belongs to or anything like that, just for an apprasial. 

Post # 13
Member
2791 posts
Sugar bee
  • Wedding: May 2015 - Walnut Hill Bed & Breakfast

NovemBride1415:  I can’t see any reason why they can’t insure it if you’re living there. Obviously I’m not on my dad’s homeowner’s insurance and he had zero issues adding my ring. I’d just talk to someone else.

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