(Closed) Ring Insurance & Appraisal

posted 7 years ago in Rings
Post # 3
412 posts
Helper bee
  • Wedding: September 2013

Well, Fiance won’t tell me exactly what he spent on the ring, but it’s between 12,000-15,000 that he spent on it, it’s been appraised for just over 20,000.  I put my ring on my renter’s insurance as a “floater” I believe it was called.  My renter’s insurance for the year with the ring is now 500$ and it covers the ring and then the rest of my property because of other jewlery, clothes, etc that I wanted to make sure was covered.

Edit:  Hope you get your ring soon!!! Good luck!

Post # 4
893 posts
Busy bee
  • Wedding: May 2013

@Fallicious1012:  Same thing happened to me.  The jeweler over-appraised it so we got an independent appraiser.  There’s definitely a difference in the 2 amounts but I trust the independent appraiser more.  He explained that insurance companies doesn’t have to pay out the full amount if they feel it’s over appraised.  Also, I went to the AGA website to find a reputable appraiser.

Here’s a good article about appraisals I found – http://wedding.theknot.com/getting-engaged/engagement-rings/articles/engagement-ring-appraisals-101.aspx

As for insurance, I hear a lot of bees add it to their home/rental insurance, but you have to make sure it covers certain things such as theft, damage and “mysterious disappearance.”

Good luck!

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