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I took out a seperate rider on my ring. I have State Farm Insurance and the rider for the full REPLACEMENT (make sure it's for full replacement value and not just "what you paid for it") and is very inexpensive. About the cost of a pizza a month!
I have my renters insurance and car insure through Erie Insurance. For no deductible I am paying 28.00$/year. Worth it to me!
I used my homeowner's insurance company and got a rider for my ring (full replacement value).
I went with Jewelers Mutual. It covers everything, even if I just flat-out lose my ring. $40 a year for $4000 in covereage.
I would get your ring (and any other valuable jewellery) appraised and insured separately (separate policy).
My partner had my ring appraised & I pay a yearly fee. The insurance policy cost will vary based on the cost/appraisal value of the piece(s) insured.
I pay around 2-300$ a year, but my ring is appraised at less than 4k, so I can imagine that a ring appraised above that would be more.
We are insured through a local company so I do not have any recommendations in that regard.
eta: for full replacement, not just what was paid/valued.
I also went with Jewelers Mutual, and it covers pretty much everything, as abbyful said. We pay around ~$40 a year to cover the ring.
We have a rider on our insurance policy (Traveler's insurance). I think we can either get something worth the value or just get a check.
You should research this for your specific situation. The total price of coverage is going to vary based on the total value of your jewelry. I'd also inquire specifically how the insurer handles a loss, even if the property is handled as "scheduled" on a rider to your policy. Reps from both Allstate and State Farm mentioned that they work with their contracted vendors. This means that they will replace as cheaply as possible, with negotiated rates with these vendors. This will make a big difference to you, especially if you have a branded ring (like Tiffany or Cartier), as replacement with "like and kind" will likely not include brand. I also found traditional insurance agents to be woefully uninformed about jewelry insurance coverage. One rep even called my solitaire ring a "solitary". Come on. The amount of inconsistencies I received from various reps at Allstate was enough to have me switch.
I ended up going with Jeweler's Mutual. I haven't had a claim, but they seem quite knowledgeable and gave me a level of comfort.
We have renter's insurance through USAA and I have a separate jewelry policy that is billed on the same bill as my renters. I pay my renters and car insurance with USAA together and it's quite affordable. You have to qualify with USAA by being a member of the military or a family member of someone in the military, but I mention our policy because it's worth looking into combining your jewelry with your renters or home owners insurance.
We did jeweler's mutual as well...they were just really great to work with and seemed very straightforward.
We went with Jeweler's Mutual (recommended by Blue Nile, where DH got my ring). They're great to work with and have excellent customer service. Not that pricey and covers everything, including mysterious disappearance [not covered by homeowner's policies]. I paid around $200 to cover my ring appraised at $19k.
We got a rider through our renter's insurance since they only covered $5,000 in case of theft.
I think we pay about $100 per $10,000 worth of coverage, but FI took out the policy. I *think* it is through Geico.
It is important to do your homework and talk to people who have actually had losses and how they were handled with these companies. I regularly post on a diamond board (what can I say, I'm a geek), and there you'll find postings from those in the diamond business who warn about issues that can occur. One poster just had a complete disaster with settling a claim with USAA.
Because of where I bought my ring, the replacement value is the appraisal value. However, I know it is common for folks to have appraised values much higher than what they paid. In many cases, from what I read, people were paying years of insurance premiums on this inflated value only to have their claim settled for much lower than the actual purchase price (which of course was many times lower than the appraised value).
I would take recommendations from people who have been with these companies for some time and gone through the claim process. All is always rosey when you are just paying premiums to the insurance company.
Good luck!
FYI, mysterious disappearance is covered by many homeowner's policies... especially if you have a rider including the jewelry as scheduled property. Now, what the policy actually pays out is a different story.
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For those of you that got insurance for the engagement ring, can you recommend a good company to go through? I just checked with my property insurance, and in the case of theft, it only covers the first 5k. Is there a reasonable expectation as to how much we should pay for the policy? Any insight would be appreciated.