(Closed) HELP! My engagement ring needs fixed… and my fionce did not buy ring insurance

posted 5 years ago in Rings
Post # 3
Member
6743 posts
Bee Keeper
  • Wedding: June 2014

Oh eek.. relax, I think it’s just the setting from what it sounds like which shouldn’t cost too much if it can’t be fix to replace.  And I would get insurance on it. 

 

Do you have renter’s or homeowners?  I don’t have insurance on my ring, but I do have renters that does cover jewelry.  Perhaps you can go that route?

 

Post # 4
Member
11272 posts
Sugar Beekeeper
  • Wedding: April 2012

@ksantala:  take it to a couple of different jewellers to get quotes for the repair.

Post # 6
Member
2869 posts
Sugar bee
  • Wedding: August 2013

Totally depends how damaged it is.  If they just have to kind of bend it back into place, it shouldn’t be bad.  If they have to completely reshape or remake the setting, it will be pricey.  Best of luck, that seriously sucks, I would be so upset!  They won’t be able to tell you  much by calling; find places that do repairs or custom work and take it in and talk to them. 

Do you have pics of the poor baby?

Post # 7
Member
405 posts
Helper bee
  • Wedding: June 2014

It’s never too late to put insurance on a ring, however getting insurance now would not cover any damage that already exists (and pretending like there is no damage would be fraud). What you will need to do to get insurance is have a jeweler appraise the ring and either get a specific jewelry insurance, or try and go through renters/homeowners insurance (renters insurance is very affordable). Then you would insure the ring for the appraised value, send a copy of the appraisal to your insuruer and keep two additional copies (usually you keep one at your residence and one with your parents/friend or a bank in case of a fire).

It’s impossible for us to estimate the cost of repairs b/c there are too many unknown factors (ring syle, metal, etc.). You should ask a couple of jewelers and see what they estimate it would cost to fix the ring and go with the most affordable option (assuming all options provide equal quality of labor).

Post # 8
Member
1657 posts
Bumble bee
  • Wedding: August 2015

Got pictures? It’ll be hard to tell how much it’ll cost w/o them.

So sorry btw. But you should probably get some insurance pronto. I went with Jeweler’s Mutual.

Post # 9
Member
374 posts
Helper bee
  • Wedding: July 2014

@akirasan:  I actually am looking to insure my ring with JM (when he proposes..it’s currently at home hidden from me) but I already have the appraisal form and everything. Could you take a minute and explain the process with JM to me? If not that’s okay but their website isn’t very helpful. Any help would be great!

Post # 10
Member
3697 posts
Sugar bee
  • Wedding: May 2012

If it was made it can probably be re-made, worst case.  Take it to a jeweler and get a quote or two.  Once you get it fixed and appraised, get a quote for insurance.  Then decide if it’s worth insuring.  For us, it was.  We can’t easily afford to replace the stone if something happened to it.  Insurance is a few $100/year to add to our homeowners’ policy with a rider. 

Good luck – and keep it on your finger once you get it fixed!

Post # 11
Member
3688 posts
Sugar bee
  • Wedding: August 2013

What metal is the band made out of?

Post # 12
Member
9955 posts
Buzzing Beekeeper
  • Wedding: December 2012

Sorry to hear about your ring… hopefully you can get it repaired.

(As others have said, giving you “an estimate” on-line is pretty impossible… too many variables.  it would be the same as someone saying… I had a fender bender with my car yesterday, how much is it gonna cost me to get it fixed ?  It would depend on how much damage… and what kind of car… lots of difference between “an old beater” you got to drive to and from Uni to a 2013 Mercedes !! )

As for Insurance… ANYTHING in life that you’d be sorry if it got damaged, lost or stolen… should be insured (be that a pet, loved-one, house, car, boat, vacation or your jewellery etc).  As other Bees have said if you have a Homeowner’s Policy (aka Renters Insurance if you don’t own)… OR a seperate policy for your Jewellery (Jewellers Mutual) you’d be covered for such mishaps… just be sure you read the “fine print” because some policies will be more extensive than others (damage, loss, stolen, misc circumstances… market value or FULL replacement value).  So KNOW what you are getting before you sign on the dotted line.

Hope this helps,

 

Post # 13
Member
14441 posts
Honey Beekeeper
  • Wedding: June 2011

Don’t worry too much about the lack of warrenty or insurance.  I doubt a repair like that would have been worth claiming insurance on since a deductible is typically no less than $500, and warrenty usually doesnt cover accidental damage like that, only workmanship defects.  Just go to a local jeweler and get some quotes.  I once bent a ring (it was a floral design that got caught on something) and it was only $20 to adjust it and solder it down so that it couldn’t happen again.

Post # 14
Member
1657 posts
Bumble bee
  • Wedding: August 2015

@CharleighT:  So I’m from Canada, but I think the process is the same.

JM’s jewelry insurance is called Perfect Circle. The application process is pretty easy, five or six steps I think. Make sure you have an appraisal on your computer (if it’s paper, scan and save it as a .pdf file). There will be a place to upload it. They’ll ask you your personal info, and if you keep your jewelry in a safe, hiding spot, etc. You can put a deductible on your insurance or choose not to have one. Then you pop in your credit card info, and they’ll send you a copy of your policy in the mail after about a week or so.

It’s pretty straightforward. There’s also a sample coverage form they offer on their site. (http://www.perfectcircleinsurance.com/PerfectCircle/media/MediaLibrary/Images/content/Personal-Jewelry-Insurance-Sample-Policy-11-12.pdf)

They cover almost everything.

Post # 15
Member
2050 posts
Buzzing bee
  • Wedding: May 2013

Ouch.  That stinks.  I agree with PP’s.  I have Perfect Circle Insurance (Jeweler’s Mutual) and all you need is an appraisal.  Its an easy process and its great for piece of mind to know my ring is protected.

Post # 16
Member
374 posts
Helper bee
  • Wedding: July 2014

@akirasan:  you’re wonderful! Thanks so much!

The topic ‘HELP! My engagement ring needs fixed… and my fionce did not buy ring insurance’ is closed to new replies.

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