Post # 1
I’m on the hunt for the engagement ring insurance (don’t own a home or have rental insurance). Is there a company that covers lost items? I read on another board that some companies may refer to “lost” as lost during a fire, theft, etc. How does one confirm with the company will cover an actual lost or accidentally damaged ring (dropped it down the garbage, diamond fell off at the gym- that sort of “accident’)?
Post # 2
- Wedding: April 2015 - Miami, Fl
I got my insurance through Jewelers Mutual Perfect Circle. I’m incredibly clumsy and my fiance wouldn’t let me wear my ring till it was insured. I don’t remember all of the specifics, but the claim process seems fairly easy and you work with a jeweler to replace/repair your ring.
Post # 3
We did mine on top of our homeowners insurance policy. It says in their policy what a company will cover so you just need to read it before you sign up for the policy. You also need to have records to prove that you owned the ring.
Post # 4
I would also look for renter’s insurance that covers things like engagement rings. If the prices are not far off it is SOOO worthwhile… You never know when someone in the same building as you is going to be a dumbass and burn or flood the place. Might as well protect all your stuff at the same time.
Post # 5
Jeweler’s Mutual will replace a lost ring. I went through them for my lost ring. The only annoying part is that they wanted me to use the jeweler who made/sold the original ring and I don’t really want a custom made replacement, so it’s been really convoluted to get a replacement because typically they work with, and pay, the jeweler who made the piece originally. If you want to do something else you have to get a jeweler to invoice you for the replacement piece, then get reimbursed for the replacement.
Post # 6
Mine is through state farm.
Post # 7
Interested in what others say, i tried insuring my engagement ring through renters insurance but they will only replace up to $1500, which wont work since my ering alone is at least 10x that, plus I still have my wedding band and anniversary band to insure.
needless to say, I’m still looking :-\
Post # 8
You want your stuff insured! Plus what if something is your fault? Unless you’re living with someone else who is insured, but then just look to get your ring included under that. When I was renting it was something like an extra $20/year.
Post # 9
USAA offers a “valuable items” insurance.
Post # 10
jolieqe: Why dont you have Renter’s Insurance? It is really one of the best things you can buy–so inexpensive compared to what you would have to pay if you lost everything. And make sure to get replacement coverage. Then you can have a ‘rider’ that will cover jewelry.
Post # 11
wntrwhte: What type of paperwork do they need for a lost ring? I’m assuming no police report would be involved. I had a friend who is pretty much sure she lost her ring when she took it off to take the garbage, but that was handled through a policy with her home owners insurance.
Post # 12
jolieqe: I work in the insurance biz. What you are referring to is “mysterious disappearance”. I don’t insure my ring with my homeowners insurance – I wouldn’t want a claim for my ring to affect my fire insurance. I always recomend that people look for a separate insurance policy on their most worn items of jewellery in case something happens to the items. If you lose the ring, you would call to report the incident to the claims department. You are correct that there would be no police report – it’s not stolen, it’s lost. They would provide you direction from there. They have you physically replace the item before they pay out – this is their way of trying to prevent fraud. Hope that helps! <br />P.S. I’d give you my lecture about the benefits of renter’s insurance, buuuuut I think some other above have started 🙂 Good luck!
Post # 13
wanderingthoughts: thanks for the info! I was wondering about fraud too, makes sense to make you write the big check first!
Post # 14
If you don’t need insurance on the content of your home I second (third?) Jewelers Mutual. My daughter has that and it’s quite reasonable. If you want to insure your home stuff as well you need a separate rider on the policy. I see too many people here thinking their home insurance covers a lost ring. Um, no.
Post # 15
wanderingthoughts: So here’s a question….how do they expect people to pay out of pocket to replace a ring BEFORE they will write a check? The whole purpose of insurance is to cover accidents like that. The average person does’t have that kind of spare change just sitting around to place their own ring before insurance comes through?
OP, to answer your question, I would assume that many insurance companies have policies for such things. My rings are on our homeowners policy. That being said, check with whomever holds your car insurance, as most companies do give discounts for holding mutliple policies with them. For example, all my business insurance is with the same company that holds our home, car, life insurance(s) because they give discounts for having all our policies through them.