(Closed) Insurance for diamond ring…need help

posted 9 years ago in Rings
Post # 3
Member
2342 posts
Buzzing bee
  • Wedding: May 2010

You should def get insurance for your ring!!  If anything happens to it, you lose it, a diamond falls out…you can just get it fixed or replaced, it’ll def be worth it in the long run!  If you own a home you could put it under your home owners insurance or take a separate personal articles policy

Post # 5
Member
2695 posts
Sugar bee
  • Wedding: April 2010

My step-mom lost her center diamond and was able to get it replaced through the insurance.  I put my ring on my home policy.  All I had to do was add it to the policy.  Once I get the band I’ll have to up the policy and add it.

Post # 6
Member
1956 posts
Buzzing bee
  • Wedding: June 2010 - Tannery Pond at the Darrow School

I had to get renter’s insurance in order to get a policy on the ring.  It was the same price if I had taken out a policy JUST on the ring…The renter’s insurance plus the ring policy is the same price thru travelers’ insurance as was a seperate quote from a jewelry insurer for just the ring….It’s worth it, at least for a few years, for piece of mind!

Post # 7
Member
38 posts
Newbee
  • Wedding: June 2009

I live in NYC and I just got my ring insured about a month ago (I wore it over 1.5 years w/o) and it felt great!  I was always afraid to get mugged.  Insuring a ring isn’t cheap though.  I checked jeweler’s mutual and for a $25k ring it was like $500 a year.  With Statefarm for a $20k ring with a $500 deductible it came out to close to $320?  But it’s called “no fault” and they said they replace no matter what…lost, stolen whatever.  Good luck!

Post # 8
Member
7431 posts
Busy Beekeeper
  • Wedding: October 2009

when you add the ring to your Homeowners type policy and ever need to file a claim you have to pay a deductible.  If you get a separate policy for the ring there won’t be a deductible.  I got a policy with State Farm for $25 a year and it covers for everything with no deductible.

Post # 9
Member
647 posts
Busy bee
  • Wedding: July 2010

I got my ring insured under a personal property policy.  It was like $20 for a full year, and it covers everything..loss, theft, damage, etc.  All we had to do was bring in the appraisal.  I posted about it here.  Good luck!

Post # 10
Member
2207 posts
Buzzing bee
  • Wedding: September 2009

its not cheap depending on the price of the ring (as laxybride said above)  I was quoted, living in Manhattan, at $990 a year to insure mine on top of our renters insurance.  You hae to add it as a rider to your current renters or homeowners insurance.  Typically the regualr insurance wont cover anyting above $3000 without a separate rider, and it requires a professional appraisal.  Ours was certified at purchase, but we still had to bring it back and have it GIA appraised.

Totally worth it though.  IF anything should happen, youre totally covered. 

Post # 12
Member
80 posts
Worker bee
  • Wedding: May 2011

I just insured my ring. It only costs me $39.00 a year. It all depends on where you live and the value of your jewelry. NY is probably a little higher than here in Ohio. I recieved the info on mine from the jeweler. I’m sure any jeweler could steer you in the right direction.

Post # 13
Member
1774 posts
Buzzing bee
  • Wedding: September 2009

I talked to my insurance guy who is AWESOME!  He said if it’s under 3000, it’s not worth it to insure.  Betweeon 3000-4000- consider insurance.  Over 4000- insure.

Post # 14
Member
7 posts
Newbee

Any diamond over about $1000 shoud definately be insured, IMO. 

Here is a page about diamond insurance, that includes info like cost estimates and what it covers.  There is also a link to get a freebie online insurance quote from Jewelers Mutual which one of the posts above mentioned.

Good Luck.

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