(Closed) E Ring Insurance

posted 10 years ago in Rings
Post # 3
Member
73 posts
Worker bee
  • Wedding: May 2008

I was always told not to add to home owners but to get a seperate policy from a company like Chubb (something I have been meaning to do for months). Maybe it’s different for NJ residents but from what I was told Home owners only covers up to a certain dollar amount and they especially won’t give you the appraised value. But coverage could vary state to state

Post # 4
Member
629 posts
Busy bee
  • Wedding: July 2005

I just recently had my e-ring restored (more than 50 years old), and I have an appointment in March to get it appraised. I feel a bit better knowing that it’s been set in motion after two and a half years, but I’ll have to let you know how it goes with adding it to our policy. Mind you, I hate paperwork. 🙂

Post # 5
Member
33 posts
Newbee
  • Wedding: December 2007

I added mine as a separate rider (i think that’s what it’s called) to my homeowner’s policy. I had the choice to add it based on the actual cost to purchase or the appraised value. We did the appraised value which was higher.

Post # 6
Member
164 posts
Blushing bee
  • Wedding: September 2007 - Hyatt Lodge, Oak Brook IL

I got mine insured through State Farm, since my family uses SF for all insurance needs. It was very easy and didn’t require much paperwork (if any at all, don’t quite remember). I just had to fax them the appraisal, and supposedly it is covered for 100% of the value. Hopefully this is the case.

However, they did mention that the cost will go up slightly every year. I paid about $360 for the first year of coverage, but then my next bill was about $400 for the next year!! I don’t consider an extra $40 every year to be a "slight" increase. Hopefully it doesn’t continue like this…

Post # 7
Member
48 posts
Newbee
  • Wedding: January 2018 - catherdral ceremony/private club reception

My ring is also insured as a "personal articles" rider, and it is for the appraised value rather than the cost.  I found that it was definitely cheaper than I thought it would be – I think I pay about $100/year to insure the ring.

Post # 8
Member
28 posts
Newbee
  • Wedding: July 2008

We insured my ring two weeks after we got it and shortly after the appraisal.  We used Jewelers Mutual and I was shocked at how inexpesive it was.  We were able to upload our appraisal online which sped up the process.

It definately does give you peice of mind.

Post # 9
Member
192 posts
Blushing bee
  • Wedding: July 2008

It was the first thing I did. My e-ring was a significant chunk of change and to think that my wedding band is sitting in his dresser drawer until the big day, my fear was "what if it gets stolen?  what happens if my ring slips off my finger on accident and I lose it?"

It was really easy. Took only seconds. Fiance had the e-ring and band appraised seperately when he bought them. So the day after the proposal he handed me the paperwork. (He’s soooo smart!!) I called our insurance guy and they added a rider. For $17k worth of coverage it’s only $5 more a month. Can’t beat that!  🙂

Post # 10
Member
51 posts
Worker bee

The day before I got engaged, I called and set up rental insurance for us (had been meaning to do it for some time)… during the intake, the woman asked if I had anything to insure, ie an engagement ring, and I said "No, but hopefully sometime soon…!" Little did I know but my fiance was out ring shopping! I was so excited to call the insurance person back to tell her to add it on!

Post # 11
Bee
588 posts
Busy bee
  • Wedding: November 2007 - Radisson Hotel

This couldn’t be more perfectly timed. I’m looking for insuring my (now two year old) ring, but now I decided I wanted a new setting, because my stone and my setting are from two different places- and if I lose it, I wouldn’t want to go back to the other place for a new ring. Make sense?? Eh…

 Thanks for bringing this up, though!!

Post # 12
Member
73 posts
Worker bee
  • Wedding: May 2008

Wow! I am definitly calling my home owners again because when I called Chubb for a quote it was over $600 to insure my ring for the appraised value. Which is why I didn’t get the coverage right away I was planning on shopping around but never did.

Post # 13
Member
73 posts
Worker bee
  • Wedding: May 2008

Well glad I called. I couldn’t insure on home owners becaue the amount the covered up to wasn’t enough BUT for the seperate rider it would be around $400 a year which is a couple hundred less than Chubb.

Thanks for starting the post suzanno it forced me to get it done!

Post # 14
Member
1061 posts
Bumble bee
  • Wedding: September 2008

i’m also using jeweler’s mutual and it’s SO much less expensive (like, $100 less) than getting a rider on my existing insurance. and it was really easy!

Post # 16
Member
96 posts
Worker bee
  • Wedding: June 2008

My Fiance proposed on a Friday and was nervous all weekend about insurance.  I called first thing on Monday morning.  I also opted for the personal property rider with my home owners insurance (Allstate).  My insurance agent explained that if a ring is lost or stolen, the replacement would come from a jeweler or distributor with which the insurance company has a business partnership.  My ring is from Tiffany’s and I wanted to make sure the replacement would not come from another source (I know it’s just a name but these things are patented… they are different!)  A replacement diamond of similar size but different cut and setting would not be acceptable to me.  I faxed my diamond’s documents to my agent and made sure the policy specified the patented Lucida cut from Tiffany’s. 

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