(Closed) Who is your ring insured by?

posted 9 years ago in Rings
Post # 3
Member
5993 posts
Bee Keeper
  • Wedding: May 2010

we have personal property item insurance (dont know what it would be called in the US) to cover items when outside of the home (mainly scuba equipment but added the rings to the policy)

 

Post # 4
Member
110 posts
Blushing bee
  • Wedding: October 2009

Jewelers Mutual.  The jeweler where we had my ring made recommended them.  They said that one of their customers had to file a $20000 claim and it only took 7 weeks!  That sounded great to me.  So we went with them.  www.jewelersmutual.com

Post # 5
Member
735 posts
Busy bee
  • Wedding: January 2009

I think we just insured it through our bank… note: we only insured it one year, if I lose it, it will be in the first year (says hubby)

Post # 6
Member
267 posts
Helper bee
  • Wedding: September 2010 - Jewel Box in Forest Park and Windows on Washington

I have mine insured through our homeowners’ insurance.  You should be able to tack it onto your home or renter’s insurance, just check with your agent.  Several jewelry stores offer their own, but you can usually get a discount when you bundle all of your insurance together (car, house, ring, etc.).

Post # 7
Member
123 posts
Blushing bee

I use Chubb, I think it’s a bit more than other insurance companies but they give you cash back as oppose to giving you a ring from jeweler of your choice ( eg if you had Tiffany ring, they don’t have to give you Tiffany ring, they give you something similar. Chubb gives you cash and you can buy new ring wherever.)

Post # 8
Member
18 posts
Newbee
  • Wedding: December 1969

My ring is insured by my renter’s insurance.   My apartment complex forces us to have renters insurance so according to the policy, it’s covered.   Are you in an apartment too?  You should consider renter’s insurance.

Post # 9
Member
458 posts
Helper bee
  • Wedding: September 2009

If you are not a homeowner, then as Betty said, you likely have renter’s insurance.  If you do have Renter’s insurance, you can add a "Marine Policy" that will cover the jewlery. (And no, Marine doesn’t have anything to do with a boat – don’t ask me why they call it that!)  Typically, the cost per year is about 1% of the value of the item (Example: Ring Value is $3,000 – Insurance for the year will be $30). 

From personal experience, if you don’t already have an insurance company, go with Erie.  My ring is somewhere in the Yough after it fell off going white water rafting.  I made two phone calls, gave a statement, and had a check within a month.  They were great to deal with, and it was very easy to set up the policy. 

Post # 10
Member
7431 posts
Busy Beekeeper
  • Wedding: October 2009

Mine’s with State Farm, mainly because I work there and wrote the policy myself.  For those of you with Renter’s and Homeowner’s Policies, make sure you have jewelry limits on your policy that cover the expense of the ring – and make sure you realize that those limits cover all your other jewelry too!!  I say this because the most we’ll cover for a loss is $5k, not a lot of money when a bunch of your jewelry is gone.  What’s nice about the policy I have (its called a personal articles policy) is that you can put all kinds of stuff on it – jewelry, furs, silverware, goldware, cameras, video cameras, laptops.  Pretty much anything worth something you can add to this policy.  It has no deductible unlike your Homeowner’s Policy.

Post # 11
Member
1514 posts
Bumble bee
  • Wedding: August 2009

Mine is through my homeowner’s insurance, but you should check into your renter’s insurance, they may be able to add it to that.  I have American Family Insurance for my home, auto, life insurance, jewlery.  If you have car insurance or renter’s insurance through any of these types of companies, you should be able to insure through them.  Plus, you save money by bundeling.

Post # 12
Member
2208 posts
Buzzing bee
  • Wedding: September 2009

BettyBye be careful with that – I thought the same thing with mine, but it turns out renter’s insurance only covers single items up to like $3,000 (in my state and my ins. company anyways.)  I had to add a rider (ryder?) on to my renter’s insurance to cover ANY jewelry worth more than $3,000.  It wasn’t awful price-wise (compared to jewelers mutual or Chubb), but it did make my monthly payments more.  They will also pay you in cash OR with a replacement.  I have State Farm, they’ve been wonderful.

Post # 13
Member
5399 posts
Bee Keeper
  • Wedding: November 1999

Farmers, it’s rider on our house policy.  However, I do know that if you are a renter there is a way to get renters insurance to cover it.  I would talk to whoever your car insurance is with and see what they can do because many times you can get a discount if you have different types of things insured, e.g. car, life, ring, etc.

Post # 14
Member
23 posts
Newbee
  • Wedding: July 2009

We bought separate insurance through Jewler’s Mutual.  A year ago we needed to make a claim on our renter’s insurance, and ended up paying out of pocket because making the claim would increase our rate dramatically. That’s why we dediced to keep it separate.

I know that making claims on any insurance will affect the rates when applying for new insurance.  So hopefully if we ever do need to make a claim, it would be after we have bought a home and already have homeowner’s insurance.

Post # 15
Member
1230 posts
Bumble bee
  • Wedding: November 2008

We have a rider on our home owner’s insurance.  Before we had Homeowners, we had it on a rider on our Renter’s insurance.

The important part is just to add the jewelry items individually under the Personal Articles Rider instead of just assuming it’s covered under your general renters’ policy.  Like a previous poster said, your renters policy will have very low limits for coverage of jewelry.

 

Post # 16
Member
275 posts
Helper bee

Its on our renters insurance as a separate line item.  I think we have travelers –

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