Weddingbee boards

Yes. End of story. Rings (in addition to my e-ring I have and wear my greatgrandmother's e-ring) have always had a seperate insurance policy. This way I've never had to worry if my HOA covers them, no matter where or what circumstances something could (knock on wood) happen to them.

Sorry, didn't answer all your questions. I don't know how much it costs- but it's nothing signifigant. We have it as a seperate policy through our HOA.

I would definately get  ring insurance (I think it may be approx. $35 a month... or so I've heard).  It's worth it.  You won't lose anymore sleep over it ;) 

We are going to put ours on our Homeowners as soon as we get them appraised.

I have separate ring insurance through Jewelers Mutual Insurance Company.  You have to send in the documentation for your ring for them to determine the value in which to insure the ring (papers that came with the ring when purchased).  They specialize in jewelry insurance, and from what I've seen on other websites, they are the gold standard for jewelry insurance.  My ring is valued at $7800, and we pay $86 annually.  For a $7.18 a month, it's a great deal, and I sleep peacefully at night.  It's super easy, and I definitely recommend them.

I have Chubb, but heard great things about Jeweler's Mutual.  With Chubb, they'll pay out cash if your ring is insured over a certain amount.  If you ever decide to change the setting of your ring, I believe Jeweler's Mutual will cover the diamond if the jeweler loses/damages it.  It's something like that...

The cost of the policy is dependant on how much you paid for it or for how much the ring is appraised as well as where you live. 

A lot of homeowner's insurance policies only go up to a certain amount for jewelry. If you paid xxx amount over for the ring, you should insure it.  It gives you peace of mind. I know it does for me!

I need ring insurance too.  I live with my FI but he couldn't put it under his insurance until next month (we have been engaged since July 2008)  and I couldn't put it on my parents because I don't live in the same state as them.  Can it be put under our homeowners insurance because we live together?  My name isn't on the deed or mortgage but my FI does own our house can I put it on there come next month?

Great topic to talk about! I feel scared about losing my ring, although it never leaves my finger!!

I have gem shield and its just under $100/year.  Definitely worth it...I know I dont' have $8000 lying aroudn to replace it if I lose it.

I have a condo policy to insure my possessions (not the actual structure itself since the condo association takes care of that).  The ring insurance cost me $122/year for $20k through MetLife.  You will need to submit the appraisal to prove the value.  From speaking with several insurance reps, for those of you who each owned their own condo/home, when the man buys the e-ring, he should insure it with his homeowners policy (or equivalent).  Once it passes to the woman (the proposal), it needs to go on her homeowner's insurance (or whereever she is living).

PS - insuring the rest of my crap cost me a LOT less than the ring itself.  It was like $70/year.

Hey Pengy.

I worked in Auto & property insurance for a few years, so maybe this can help?

1) You're right on the money re: price of insurance increases with the cost of the replacement. @ Mrs. Emerald, not sure of the specifics with your rings value, but it would be safe to say the value of your ring would need to be in excess of about $30k to substantiate the premium being charged.

2) Your "condo fees" can be misleading, and unfortunately you're going to have to read the small print. Often times, the way the insurance company looks at it, you as a condo owner own everything contained within the 4 walls from ceiling to floor. You basically own the contents of the condo, but not the walls itself (does that make sense?). The need for your condo insurance isn't only for theft of your items, but also fire, flood, etc. Doesn't seem like such a big deal, but even if your items are high in value, if your place burns you're likely to be homeless until your place is rebuild/fixed/etc. Your condo fees might not cover the Additional Living Expenses (ALE) to put you up in a hotel room, etc... And in the end you could be stuck with bills for your kitchen cabinets if anything other than the standard was added to your unit to increase it's value. Again, you need to review your policy for the details. Also, same goes for liability purposes if someone slips & falls while within "your four walls". It gets kind of scary to break it down like that.

3) In my experience (while I was renting), the cost for your condo insurance is relatively low compared with homeowners insurance. Then to add your e-ring, you generally need a recent appraisal of your ring. Definitely worth it if you're likely to lose your ring! Mine is about $12/month and no deductible. Totally worth it, just for the peace of mind alone!

4) I don't think you can add your ring to your parent's homeowner's policy... If they don't have a financial "interest" in your ring, they can't insure it. If, where there is no potential for "loss" to them, they have no "interest".

5) Finally (I swear, I'll stop after this), for the gals who don't have specific floater coverage for their ring, keep in mind most insurance companies will cover only to a specific limit (ranging from 1k-$2,500). Sure it offsets your losses a little, but is it a risk you're willing to take?

Good luck either way! 

We have ring insurance.  We also have it with our renters insurance.  My FI wouldn't let me wear my ring without it!  It is worth the peace of mind!

I think the standard rate for insurance is 1.5% of the ring's value per year. So, if your ring is appraised at $10,000, you'd pay $150/year in insurance. I hope this helps - then you can figure out how much your ring would cost to insure.