(Closed) Insurance for your ring

posted 4 years ago in Rings
Post # 2
Member
1253 posts
Bumble bee
  • Wedding: October 2016

View original reply
nugs:  I am an American Bee and was able to bundle my ring insurance it into our Homeowners Insurance for tens of dollars a month…my ring was about 7x less expensive though…. so maybe that is an appropriate amount?

Post # 3
Member
139 posts
Blushing bee
  • Wedding: March 2017

I’m in Australia too- my home insurance isn’t expensive enough to add the ring on to even separately- so would have to over-insure my flat contents and then pay for the ring on top which I find annoying. They wont do the ring individually. Same with 2 major insurers.

where have you found that charges $100 to insure your ring? 

Post # 4
Member
37 posts
Newbee
  • Wedding: May 2016

I started an insurance policy separate from my home owners insurance.  It’s a no deductible insurance policy for $60 a year.  It covers everything from loss to theft to damage.  

Post # 5
Member
962 posts
Busy bee
  • Wedding: May 2016 - San Clemente Church, Italy

I’ve read that a general rule of thumb is 1-2% of the ring value Here in the U.S. I chose Jeweler’s Mutual because they let you pick your own jeweler and they insure against “mysterious disappearance”.

Post # 6
Member
304 posts
Helper bee
  • Wedding: April 2000

Jeweler’s Mutual is who I carry.  It was much cheaper than carrying a policy on our homeowner.  I unfortunately did lose my engagarment ring before we got married.  At that time we had it covered under our homeowners, but we lost it out of our house, so no coverage.  I think I pay $150 a year to carry Jewelers Mutual for around $15,000 worth of coverage.  

Post # 7
Hostess
9983 posts
Buzzing Beekeeper
  • Wedding: March 2014 - Chicago, IL

Another Jeweler’s Mutual user here (American). I pay 1% of the value of my jewelry/year.

Post # 8
Member
962 posts
Busy bee
  • Wedding: May 2016 - San Clemente Church, Italy

View original reply
Maddiepie2004:  Omg, so sorry that happened to you.

Post # 9
Member
9433 posts
Buzzing Beekeeper
  • Wedding: October 2013

i added a rider to my home owners insurance.  my ring was apraised at more than yours (diamond is a family heirloom).  i only pay about $100/year for my ering and wedding band and it covers every single situation that could happen to my ring.

$100/month sounds really expensive.  i would shop around.

Post # 10
Member
943 posts
Busy bee
  • Wedding: September 2016

View original reply
nugs:  thats a lot. I paid $290 for the year through jewelers mutual. 

Post # 11
Member
418 posts
Helper bee

My insurance is about 900/year, but my ring is appraised at close to 60k… so 100/month sounds high to me.

Post # 12
Member
569 posts
Busy bee
  • Wedding: August 2016 - Temecula, California

I have Jewelers Mutual also. To me it is worth it.  My ring appraised for way more than we got it for. The policy pretty much covers any form of loss.  Good luck bee!

Post # 13
Member
564 posts
Busy bee
  • Wedding: November 2016

We added it to our renters insurance, although it took some doing because our existing insurance had a per item limit that was too low, so we had to change to another company. I’ve heard mixed things about jewelers mutual and other similar companies so decided to avoid those. But i don’t think it covers loss/damage so that’s annoying. I’m in the US too. 

Post # 14
Member
2506 posts
Sugar bee

we got stand alone insurance for my ring (covers loss, theft, and damage), and it was $100 for a YEAR. definitely do more research – $100/month seems cray cray. the typical premium for stand along insurance is 1-2% of the ring value per year. (so like $320/year for you)

Post # 15
Member
963 posts
Busy bee
  • Wedding: March 2015 - On a Cliff Overlooking the Bay, Florida

View original reply
nugs:  US Bee here. We added my rings to our homeowners insurance and it cost us $117 per year for $12,000.  $100 a month is crazy high that $1200 a year for insurance I don’t even pay that for my 2016 $60,000 car…

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