Post # 1
What are your thoughts? I have the store insurance (for any damage), but want to add a policy for lost or theft, esp with us leaving the country..
any advice or estimates of how much a year it would cost?
Post # 3
I do. I haven’t lost my ring so I haven’t ever submitted a claim but so far so good. My ring is insured for 14k and the premium is $175 a year. I have no idea what my deductible is though… 500 maybe? You can play around with the deductible to make the cost more reasonable. Also, theres a minimum to bill monthly rather than yearly and I was short of it so I think its $200.
Post # 4
Glad you posted this, @chittychittybanebane:. FI won’t get my ring on our homeowner’s because it is so expensive that in 5 or 6 years he will have paid off the price of the ring in insurance costs, so I’ve been looking at getting something myself for it.
Post # 5
@LGenz: ok, that sounds reasonable… my rings only needs to be insured for about 3500.00, so when I put in the costs it said 35$ ( I guess yearly? )
I should call at lunch!
@soyjoy222: I know, I’m waiting on our homeowners agent to get back to us, but I am sick of waiting for him and think this may be easier…a one time payment thing.
Post # 6
I don’t know if this is an option with your insurance but I have a rider on my home policy with USAA for $2,500 (any jewelry covered) whether in my house or on my person, lost, damaged, or stolen. And I only pay $27 a year for it.
Post # 7
I do! We pay $150 a year for just the engagement ring so far, and the price of the ring will be paid off in like 60 years or something, so I think this is worth it. We also have a $0 deductible, because I feel like if I lose my ring I will be a huge mess, and paying nothing else out of pocket might ease my mind a little. It seems like they cover all loss or damage, with the exception of nuclear war (kinda random right?! but seriously, it’s in the contract) So let’s hope for none of that, and I will have the peace of mind that my precious ring will be covered in case of anything!
Post # 8
awesome thank girls.
Bad news is :my homeowners insurance agent just emailed me and added it to my policy..without telling me the price or anything! Ugh! So, now I am double insured! I need to cancel one. GRRR that is what happens when my agent takes a week to get back to me…I do it myself!
Post # 9
We went with Jeweler’s Mutual. $0 deductible, $4500 or 5000 worth of coverage for around $70-80 a year I think (DH set it up, I don’t know exactly). We liked that it covers EVERYTHING, even if you just lose your ring.
Post # 10
Yes, I have JM. I think mine is $18,500 of coverage for like a little over 200/year. So so worth the piece of mind…I hope I never have to use it!
Post # 11
I have Jeweler’s Mutual, it’s just about $100 a year for $7,000 of coverage with a $0 deductible. I believe it will be just under $200 a year for about $14,000 of coverage when we add our wedding bands to it.
Usually the homeowners insurance coverage is not quite as good or extensive as the specific jewelry policies, so I would check the contracts and keep with the one with better coverage.
Post # 12
@chittychittybanebane: I have Jewelers Mutual and their premium is 2% of the appraised value if you choose no deductible, but it also depends on your area.
Post # 13
I am an insurance agent in FL so hopefully I can shed a little light on this for you.
Most homeowner’s carriers provide a certain amount of insurance to cover jewelry which is automatically included in your homeowner’s policy. In FL, they automatically give you coverage of $1,000. That amount may differ in other states.
Jeweler’s Mutual is a very good company. They are “A” rated with AM Best. We refer alot of clients to them to insure their jewelry. The policy with Jeweler’s Mutual should not have a deductible that applies. The ring would be covered for any type of loss.
Hope this helps!
Post # 14
My ring is insured by JM. Its insured for 17k with no deductable at about 350 a year. We dont own a home (yet) but were considering renters insurance but we could not find a company that would cover jewlery for that much so JM was the best option.
Post # 15
I have Jeweler’s Mutual and we pay $53 a year to cover my e-ring for complete loss with no deductable (damage and diamond loss is covered through my lifetime warrenty at Shane Co).
Post # 16
@BusinessBride: That sounds so much more reasonable. I just filled out an application for JM and for $18,750 worth of coverage it is $320 per year ($250 deductable). I dunno, it seems high, but they seem like the insurance to go with…