(Closed) did you insure your ring?

posted 8 years ago in Rings
Post # 3
Member
302 posts
Helper bee
  • Wedding: May 2011

Talk to your jeweler.  My Fiance bought the insurance policy when he purchased my ring.

Post # 4
Hostess
18644 posts
Honey Beekeeper
  • Wedding: June 2009

I didn’t have to get mine appraised (edit).  I just included it in my valuable property insurance rider on my renters’ insurance.

Post # 5
Member
282 posts
Helper bee
  • Wedding: April 2010

I bought a special policy for my ring from the company that I have my renters insurance with. It’s a Valuable Personal Property policy. I insured my ring for the value of the appraisal the jeweler gave us when we bought the ring.

Post # 6
Member
576 posts
Busy bee
  • Wedding: December 2009

My ring is insured under my homeowner’s insurance. All that’s required is an appraisal of your ring, and they’ll insure it for that amount. To get it appraised, just call up a local jeweler and ask them to recommend an appraiser. Mine was appraised in less than an hour!

Post # 7
Member
1940 posts
Buzzing bee
  • Wedding: July 2010

Yes, I absolutely insured my ring!  I just had it added to my renter’s insurance.  They just needed a copy of the receipt or an appraisal value.

Post # 8
Member
721 posts
Busy bee
  • Wedding: October 2010

Mine is insured.  I wasn’t sure where to start either, so I went with the company I use for car insurance.  I got a policy for renter’s insurance and added my ring as a rider.  It’s $45 a year, but that is based on how much your ring appraises for.  I got it appraised for $75 by an independent appraiser.

Post # 9
Member
1051 posts
Bumble bee
  • Wedding: April 2010

Check with your home owner/renter’s insurance.  Depending on the value of the ring, you can either include it or add a separate rider (I think most policies are around $5000 before needing to get it’s own rider).  You’ll need an appraisal (should be able to get it from where you got the ring, but can always pay a jeweler to appraise it if it was a family heirloom or something like that) stating the details (metal, the Cs, cert # if the diamond is certified, etc) and the replacement value which is usually much higher than you paid (mine’s a third more) to insure it can be replaced with a comparable ring down the road.  Also!  Don’t forget to have the ring reappraised eventually.  Diamonds appreciate.  The same diamond that costs $10k now will cost $20k to replace 20 yrs from now.  

Post # 10
Member
4547 posts
Honey bee
  • Wedding: September 2010

My Fiance got my ring appraised and added to his insurance policy when he got it, so it was free. When I get my wedding band soddered to my engagement ring it will be reappraised because it counts as one ring. He just added it to his homeowner’s insurance policy. However, there are a lot of companies out there that do just jewelery (Jeweler’s Mutual is one that comes to mind). Something to think about when choosing a company is whether they will replace your ring or just write you a check for the amount the ring is ensured for.

 

Post # 11
Member
1732 posts
Bumble bee
  • Wedding: September 2010

Yes, this is the first thing we did.

I had mine appraised at a jewelery store – most will do so.  We added it to our homeowner’s policy.

Post # 12
Member
806 posts
Busy bee
  • Wedding: August 2010

I had it added to my renter’s insurance.  They required the appraisal documents to do so, but it was no big deal because those came w/ the ring when we bought it (from bluenile).

Post # 13
Member
9 posts
Newbee
  • Wedding: July 2010

I inusred my hugely expensive ring though my auto insurance company- State Farm. It costs me $3.33 a month!

Post # 14
Member
1020 posts
Bumble bee
  • Wedding: January 2011

we also insured ours–especially since we got engaged in another country! we added it as a rider to our renters insurance through nationwide. they first told us we had to get it appraised, so we did, but then it turns out, all we needed was the bill of sale =p

Post # 15
Member
2695 posts
Sugar bee
  • Wedding: April 2010

I insured mine under the homeowner’s policy because you put an amount to cover other jewelry.  I’m glad I did this because both my mom and step-mom lost diamonds last year out of their rings.  My e-ring isn’t a diamond but an Aqua from Tiffany’s and is a rare color of Aqua stone. So it is higher price then other Aqua’s you see in the stores. Tiffany’s doesn’t have a program that covers gems or not at least at our price level. So we figured we needed the extra policy to replace it if lost or damaged.

Post # 16
Member
457 posts
Helper bee

we got our ring appraised through our jeweler because they have an appraiser that works for them, then we got my ring insured through statefarm because thats where i have my car insurance. So they just tacked on the insurance on my car insurance each month. For $8000 dollars its $70 dollars for us to cover my entire ring and that even includes the inflation rate on diamonds. So we can pay that $70 dollars all up front or just have them take it out monthly with my car insurance.

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