What type of insurance do you have for your ring?

posted 3 years ago in Rings
  • poll: What type of ring insurance do you have?
    Homeowner or Renter's Insurance rider : (59 votes)
    42 %
    Jewelry specific policy : (54 votes)
    39 %
    Both : (6 votes)
    4 %
    I just like to answer polls : (20 votes)
    14 %
  • Post # 3
    Member
    1114 posts
    Bumble bee
    • Wedding: August 2014

    Following this! I just lost my ring and my insurance company isnt paying anything to replace it. After telling us it was covered up to $1000. Such a joke! I would not recommend Geico or Assurant. 

    Post # 5
    Member
    2052 posts
    Buzzing bee

    After doing some research and finding out that my insurers definition of “loss” was not the same as mine, I decided to go with Perfect Circle by Jewelers Mutual Insurance. It was recommended to me by the independent gemologist who appraised my ring, who said they insured both the diamonds at her work and her own personal jewelery. They also cover “mysterious disappearance” which I think most of us are thinking of when we think of the word “loss!” 

    Anyway I just got them so I can’t speak to how they are with claims or anything, but they were affordable. Only $50 annual premium with no deductible. 

    Post # 6
    Member
    681 posts
    Busy bee
    • Wedding: October 2013

    I have perfect circle and my husband already lost his ring. They are replacing it at no cost and let us choose who we buy the replacement from, although we are just getting his original ring again. Also, they check to make sure you don’t double dip your policies, so I don’t think that would be something you’d need to do. 

    Post # 7
    Member
    2428 posts
    Buzzing bee
    • Wedding: May 2014

    I don’t have insurance on my ring and never really thought about it 🙁 I did lose one of my pave diamonds and the jeweler replaced it for free. I should look into it though. I would be so devastated if something happened to it.

    Post # 8
    Member
    4944 posts
    Honey bee

    We have a specific policy (personal article floater) through our homeowner’s insurance company. Geico is our insurer (so @ChellFish22’s experience has me a bit spooked), but our HO policy is through Traveler’s.

    When we first got my ring, we added a rider, but that wasn’t enough to cover the whole replacement cost. Once we got it appraised, we purchased a new policy just for the sparkly lady. Smile

    Post # 10
    Member
    7179 posts
    Busy Beekeeper

    @Krises:  most home/renters insurances only cover $1500 of jewelry (I found this out the hard way, after we got robbed!).  I now have a supplmental jewelry rider that is in increments of $10000 (it’s through our home insurance company)

    Post # 11
    Member
    1136 posts
    Bumble bee
    • Wedding: March 2015

    @Krises:  Mine comes under our contents insurance but is a specific item (due to the high value of it they needed valuation certificates etc)

    Most important thing is to make sure it’s covered for the total value / full replacement  anywhere in the world! (and not just for theft/damage from fire etc but also loss)

    Lots of people make the mistake of getting theirs insured under home/contents and then if they lose it outside their house it’s not covered!

    Post # 13
    Member
    7179 posts
    Busy Beekeeper

    @Krises:  most home/renters insurances only cover $1500 of jewelry (I found this out the hard way, after we got robbed!).  I now have a supplmental jewelry rider that is in increments of $10000 (it’s through our home insurance company).  My particular rider covers any sort of loss (stone loss, accidental loss, theft, etc)

    Post # 15
    Member
    3372 posts
    Sugar bee
    • Wedding: February 1997

    I am insured through Jeweler’s Mutual. as well. They have reasonable rates and cover a lot of possibilities. FWIW, few or NO policies anymore give cash back on loss or theft; they only cover a replacement that’s at or under the amount insured for. There are a few policies grandfathered in that still give cash, but almost none. 

    I believe in insuring anything that I couldn’t easily replace in the case of loss or theft. The insurance company is betting I won’t lose it (and they are probably right), and I just want to make sure I am not out that sum of money if I do, so it’s worth the cost of insuring for me.

    Post # 16
    Member
    1195 posts
    Bumble bee
    • Wedding: July 2013

    @Krises:  I have Perfect circle…never had to make a claim, but glad to know it is there in e event of.  Affordable too!

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