Post # 1
Our wedding rings arrived in December, and I was thinking it would be good to have them and my e-ring insured. They are not the most expensive rings in the world, but I know I’d hate to have the stolen or lost and then have not even the reassurance they could be replaced – well, as best as possible as the semtiment is a big things to me.
We have homeowner’s insurance with a property clause, but I also noticed my bank, USAA, offers insurance specifically FOR jewelry as well as other individual items. The premium looks affordable, and I think it’d make me feel better overall to ahve them and a few other items insured, but I wanted to know if others had done this, is it a hassle either to set up or to get a payout of needed, etc. All in all, our combined rings plus the one heirloom item I have would be less than the cost of many ladies e-rings on here, so I don’t know if it’d be silly to do this.
Post # 2
Most people add jewley covereage in the form of a rider added on to their homeowners or renters insurance. Also, I’ve heard that if the ring is worth less than $5,000 not to bother, as the value wouldnt be worth the cost of the policy.
Post # 3
- Wedding: August 2017 - Sea Cider
look into Jeweler’s Mutual, as well. I would insure anyway — they might not be as expensive as some people’s rings, but they would still be an expense to replace.
Post # 4
My wedding set is less than 5,000 and I pay $30 a year to have it insured along with my auto and homeowners insurans.
Post # 5
Absolutely get them insured, no matter the price– chances are you saved up a lot to buy them, and an insurance policy will help you buy new rings ASAP if anything happens. I know I’d hate to be ring-less for very long, so having insurance helps!
Post # 6
What is your ring worth? Many homeowners policy comes with jewelry coverage up to a certain amount as well. I’d also check what happens to your rates if you make a claim to see if it’d even be worth a claim. For example… my homeowners comes with 1500 jewelery coverage for no extra cause. My house was broken into and I had to make a claim for that and other items. But I also had a deducitible of 1k. And then my rates went up almost 50% cause I lost my no claim discount, as well as got slap with a claim surcharge for 3 years. So now over the 2 years, I’ll have paid $2400 more in premiums, along with not getting back 1k for the deductible. So if I had say only 3k of loss to claim, I would have actually lost money making the claim. So there’s really more to deciding if insurnace and a claim is worth it than just buying insurance and expecting it to cover you if something were to happen. I dunno how it works for jewelry specific policys though, but just something to think about, since luckily my ring wasnt’ stolen and I didnt have to make a claim on the rider policy I have for it.
Post # 7
Our jeweler helped us with paperwork that was necessary for the jewelry rider on FI’s renter’s insurance policy. The additional cost on the policy only comes out to a few dollars per month, so it was worth it to us.
Post # 8
No reason not to! Even a $2000 ring would be only $25-30/year to insure. That sure beats $2000 to replace it out of pocket!
Post # 9
We went with https://www.jewelersmutual.com/ and they are really great. I did it all on my smart phone, and the premiums are reasonable.
Post # 10
I have a rider through USAA for jewelry (I think it’s called VPP = valuable personal property). It is very affordable and they are always so great to work with. I’ve also heard good things from people who have had to file claims with them. I think I pay less than $50 a year for >$10,000 in coverage.
I have heard that it’s a good idea to get an independent appraisal from someone certified to do them to have as a record if something happens to your ring. On the USAA website, I was able to upload a few photos of my ring and the appraisal for their records. So if something happens to my ring, I have good proof that I owned it and that it was worth what I say it is.
Post # 11
I insured my engagement ring through my homeowners. It was really easy. Just had to send the appraisal. I plan to do the same for my wedding ring.