(Closed) Insurance for your engagement ring

posted 7 years ago in Rings
Post # 3
Member
1108 posts
Bumble bee

I think mine is 55/yr for a ring appraised at 6k.

Post # 4
Member
3718 posts
Sugar bee
  • Wedding: July 2013

Ours came out to about half of a percent of the appraised value per year. We got it through USAA where my Fiance does all his banking and insurance.

Post # 5
Member
5428 posts
Bee Keeper

Well, since my engagement ring cost $89.00 at a pawn shop and my wedding band cost $49.00 at a jewelry store, I don’t want to spend insurance money on them LOL 

I would expect the insurance on jewelry will depend on where you live and where the jewel “lived” Compare these two scenerios :  on your finger 24/7  and a bank vault (can’t get stolen easily)

Post # 7
Member
366 posts
Helper bee
  • Wedding: September 2013

My ring had to have a seperate rider, our basic house insurance only covers jewellry (total) to a maximum of 12 thousand dollars. My e-ring and band are insured for 28 thousand at a cost of 58 dollars a month, which is ridiculous given the entire house with full covereage is only 73 a month but better safe than sorry.

Post # 8
Member
5797 posts
Bee Keeper
  • Wedding: May 2011

$185 per year for a 14k appraisal, through Jewelers Mutual

Post # 9
Member
3718 posts
Sugar bee
  • Wedding: July 2013

@kaiangel6:  

that is about what he paid. Looking at your ring pics, I’m guessing they are similar in value (mine is a 1.33, vs2, g, very good. Appraised at $20, cost around $12)

Post # 10
Member
928 posts
Busy bee
  • Wedding: August 2011

Second for Jeweler’s Mutual.I paid $160 a year for a 13k appraisal. We went with them because adding insurance as a rider on our homeowner’s policy would only cover theft, not damage or loss. Which knowing me is bad because I am more likely to lose it or detroy it that have it stolen…knock on wood…

Post # 12
Member
2869 posts
Sugar bee
  • Wedding: August 2013

I am looking into insurance now.  Places I have talked to will add it onto renters insurance, but don’t seem to do it on their own, so I’m leaning towards just adding it to my State Farm renters insurance.  My set was $4,600, so assuming that value, they said it would be an additional $124 per year with no deductible or $92 with a $500 deductible.  Seems worth it to me, but I might be changing my center diamond, so I’m waiting on actually getting the insurance. 

**This would cover lost or stolen or a stone falling out or anything – I definitely wouldn’t get a policy just in case it was stolen because I plan to have it on my finger, not sitting in my house 🙂

Post # 13
Member
664 posts
Busy bee
  • Wedding: December 2012

My e-ring values at about 10k and it’s a seperate policy but part of our renters insurance.  It’s an extra $95 per year.

Post # 14
Member
1423 posts
Bumble bee
  • Wedding: March 2013

I read/heard that engagement rings/wedding bands can be insured through GEICO via their Valuable Property insurance. Since I have my car insurance with them, I’m going to see if I can tag on my engagment ring. Anyone go this route?

Post # 15
Member
1108 posts
Bumble bee

Pre-grump:  If my post is too old, why did you let me click edit?!

Anyway.  Mine is also on a rider for our HOI.  It was hilarious when we were shopping around for insurance, all of the agents would say “and when you get engaged and get that BIIIIIIG ring, you can get a rider on your homeowner’s policy for it.”

Post # 16
Member
893 posts
Busy bee
  • Wedding: May 2013

@kaiangel6:  Our premium was 2% of the value with $0 deductible through Jewelers Mutual.

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