(Closed) Average cost of engagement ring insurance??!

posted 8 years ago in Rings
Post # 17
Member
1826 posts
Buzzing bee
  • Wedding: December 2013

It depends on what it’s insured for but if you want it covered for everything then the $10/$1000 seems about the norm.

Post # 18
Member
6354 posts
Bee Keeper

Did you ladies do yours based on an appraisal of Replacement Value, Fair Market Value, or something else?

Post # 19
Member
2903 posts
Sugar bee
  • Wedding: January 2011 - Midland, TX

I think we pay like $10 a month with our Car Insurance and Rental insurace policy…so we get a slight discount and they went off of what we paid for it…I have not had an appraisal done yet. We paid close to $5800

Post # 20
Member
11231 posts
Sugar Beekeeper
  • Wedding: August 2013

View original reply
@joya_aspera:  That’s a good question. I don’t think our appraisal specified, but the appraisal price was based on the current market value of the ring (gold + diamonds), if that answers that?

Our premium is $25/year through A Perfect Circle (based on $2000 appraisal value). I had my ring appraised (it did not come with one) through a local, independent jeweler, scanned the appraisal in, and uploaded it to APC. Super easy.

Post # 21
Member
53 posts
Worker bee
  • Wedding: September 2014

same as VORPALETTE we went through a perfect circle insurance. ” It came out to under $100/year with $0 deductable. This covers anything from theft, damage, or loss. Well worth it to me!!! A friend of mine lost her e-ring and didn’t have insurance because they didn’t want “an extra cost.”

Post # 22
Member
1041 posts
Bumble bee
  • Wedding: November 2012

We pay $350 a year for mine. Mostly due to the value of my ring and the fact that we live in NYC. The quote was $75 cheaper for Ohio. We use jewlers mutual.

Post # 23
Member
5667 posts
Bee Keeper

My e-ring is $98 a year through A Perfect Circle/Jeweler’s Mutual. My ring cost between $7k and $8k.

Post # 24
Member
577 posts
Busy bee
  • Wedding: October 2012

As an insurance agent, the best way to do it is through your homeowner’s or renter’s insurance. 

I currently have $4500 of protection for $60 a year through Allstate.

Post # 25
Member
438 posts
Helper bee
  • Wedding: August 2014

We were quote $25 per month ($300 per year) through USAA when it was bundled with our homeowner’s and two auto policies. I expect that it would be higher through other providers and on an individual jewelry only plan.

 

Post # 26
Member
286 posts
Helper bee
  • Wedding: March 2014 - Glen Sanders Mansion

We added it to our renter’s insurance.  The appraisal on the e-ring was $9,999 and I believe it increased our insurance by about $130 a year.

Post # 26
Member
118 posts
Blushing bee
  • Wedding: November 2016

Hi All, my insurance just quoted me an extra $600 for the entire year. This includes rental insurance. I think this is ridiculously high? I am going to check out jewlers mutal and a perfect circle, but if anyone else has any others that I can check out, I would really appeciate it?

 

Post # 27
Member
1701 posts
Bumble bee

I just called today…there is about decent difference between my “paid for” value and “appraised” value…Paid for cost is going to be about $350/year…appraised value is about $435…

Post # 28
Member
392 posts
Helper bee
  • Wedding: May 2017

View original reply
GretaMae316:  My Fiance and I are both with USAA. (Love them!) With all of the discounts we pay less than $10 per $1000 of the cost of the ring. Thankfully, when we get married we’ll be eligibe for additional discounts due to more insured products within one household rather than our current two. 

Post # 29
Member
1494 posts
Bumble bee
  • Wedding: October 2015

View original reply
ZAX:  I pay $40 in addition to my renter’s insurance.

Post # 30
Member
283 posts
Helper bee

Have insurance prices raised a lot recently?  My engagement ring was appraised in the 40 k range,  i just checked jewler’s mutual and their quote was $1350 a year!!! seemed REALLY high 

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