(Closed) Did you insure your Engagement Ring?

posted 7 years ago in Rings
Post # 2
Member
10041 posts
Sugar Beekeeper
  • Wedding: December 2013

Yes, I have all of my diamond jewelry insured through our homeowners insurance. We have allstate,I believe it’s called a “scheduled personal property ” or floater. It’s basically just an add on to our homeowners and doesn’t cost much extra at all.  I am very happy with them, last year I actually lost my engagement ring. No I didn’t get back exactly what we paid or what it was worth but it was nice to have a decent amount back to put towards a new one. Had I not insured it, i would have been SOL!!

Post # 3
Member
514 posts
Busy bee
  • Wedding: February 2016

Yes. We don’t have homeowner or renter insurance so we got a policy through Jewelers Mutual. Very inexpensive and easy.

Post # 4
Hostess
6518 posts
Bee Keeper

My ring is insured through our homeowner’s policy. Most of my jewelry is covered under our policy itself. We have a separate policy (personal property rider) for my anniversary ring. We use Geico, and insuring through them was super easy. One phone call, and it was done!

Post # 5
Member
921 posts
Busy bee

View original reply
abridetobe2015:  Mine is insured through my contents insurance

Post # 6
Member
109 posts
Blushing bee
  • Wedding: September 2015

View original reply
abridetobe2015:  Yes, I work for State Farm and have a personal articles policy. The jewelry coverage through the homeowners policy will cover up to $5k. The personal articles policy is inexpensive and based on the appraisal amount of the ring. You will need to provide information about where the ring is kept when you aren’t wearing it, how much you wear it(every day), if you want full coverage or just the appraisal amount. You will also provide basic demographic information(name, age, address, D.O.B etc). Simple and easy to put together, and then you can add both your wedding bands afterwards. 

Post # 7
Member
2233 posts
Buzzing bee
  • Wedding: June 2015

Yes! In the UK so can’t recommend a company for you but here are some generic pointers.

  • Make sure your policy covers you for new for old replacement value. The value of your ring plummets once you buy it as it is now pre-owned. 
  • Make sure you are covered for accidental damage as well as loss or theft within or outside the home.
  • Read the stipulations carefully and abide by them. Common ones include having your ring checked 6 monthly or annually for loose stones or prongs. Two yearly appraisals etc.  Keep proof of these services. 
  • Keep and scan and archive photos of all the documents relating to your rings: proof of purchase, GIA certificates, photos. If you can’t prove that your ring was a D colour Ideal cut then your insurers will certainly not fund an equivalent replacement. An uncertified, poorly cut and included replacement will cost a fraction of the value of the original and look shocking. 
  • My e-ring is fairly valuable and our household insurers not only refused to cover it, but gave us 7 days notice to find alternative buildings and contents insurance as they would no longer cover us on the basis I that we might be targeted by criminals spotting the ring! Now this is ludicrous as my ring is not flashy and not ginormous, – but that was their argument. We got another insurer without too much difficulty, but the premiums would have been much higher if we hadn’t opted for a £500 ($800) excess on the policy. Opting for a higher excess can make a huge difference to the cost over years of paying the premiums. 
  • This reply was modified 6 years, 9 months ago by Drizzle.
Post # 9
Member
277 posts
Helper bee

View original reply
abridetobe2015:  we have my e-ring insured through State Farm. We had to provide an appraisal that was no more than 2 years old, so I don’t think they would accept a receipt. 

Post # 10
Member
677 posts
Busy bee

I have my rings covered through state farm. I don’t know what the expense was because DH just brought in the paperwork one day during his lunch but I know it was very inexpensive to insure. If you’re having issues I recommend actually going in and talking with your insurance agent. 

Post # 11
Member
23 posts
Newbee
  • Wedding: August 2014

Yes we insured both engagement and wedding ring under our renters insurance. I think it only added $8 or $10 dollars a month to our policy and covers replacement value (~10k) so very affordable! We did have to provide an appraisal that was less than a year old Even though we had receipts (and cost less than they were appraised at). It is peace of mind for us incase something unthinkable happens! 

Post # 12
Hostess
720 posts
Busy bee
  • Wedding: October 2015

MetLife insured mine. We had no problems with it at all. It’s attached to the homeowners policy

Post # 13
Member
5985 posts
Bee Keeper

View original reply
abridetobe2015:  I didn’t because I had a gemstone something I don’t consider nearly as valuable as a diamond.  Can you go through the one that you would use on your home?

Post # 14
Member
273 posts
Helper bee
  • Wedding: April 2015

Jeweled Mutual ftw. Send them a copy of the appraisal and you’re good to go.

Post # 15
Member
344 posts
Helper bee

I have almost every policy imagined through State Farm, but I wanted to insure my wedding set (about $20,000 total) for a zero deductible and they wanted $350 a year. I called Jewelers Mutual and they wanted $230 a year for the same coverage. I went with Jewelers Mutual. 

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