Post # 1
Ahh! I just tried to insure my ring with my homeowners insurance and I had sticker shock!!! Does it really cost $300 a year to insure my ring?! Once they told me that, I didn’t even want to mention I had a wedding band too! They also made me up my personal property coverage by 20k.
Are there any other options for insuring rings?
Post # 3
Jeweler’s Mutual – http://www.jewelersmutual.com/
I have my ring insured for ~$4000, it costs ~$40 a year.
And they have great coverage.
Post # 4
I know some people insure through a separate policy–with a jewelry insurance place like Jewelers Mutual (I think that’s the name…it’s at least close).
Prices vary by region, by price of ring, etc…and even if it is 300 a year, isn’t that a lot less than replacing your ring if it gets damaged or stolen?
The peace of mind is, to me, very worth it. We insured through our homeowner’s (and before that, through renter’s) and have had good experiences with Liberty Mutual (rental) and The Protector Group (homeowner’s and car).
Post # 5
I insured through jewelers mutual and I think its $175 a year for me. You can play around with the deductible to make it more reasonable.
Post # 6
Can you add it to a homeowners or a renters policy? I have a replacement policy (as in if i lose it, they will replace it and not cut me a check for the replacement value) for 11k. This costs me $7/month.
Adding…it’s through Statefarm
Post # 7
Do you all know if jewelers mutual covers the ring when traveling overseas?
Post # 8
Hi, PinkMagnolia. As a Jewelers Mutual employee, I can tell you that our Personal Jewelry Insurance policy offers comprehensive coverage on your jewelry (including accidental loss, damage, theft and mysterious disappearance), when you travel anywhere in the world, including overseas. And for everyone who’s wondering about the cost, you can receive a free, no-obligation quote at http://www.jewelersmutual.com/FreeQuote.aspx?id=2349. Hope that helps!
Post # 9
as far as i know your insurance premium depends on how much your ring appraised for… for example with liberty mutual which is what i have, the premiums increase drastically for anything over $20K.
Post # 10
Mine is also added to my renters insurance. It was super cheap, less than $10 per month.
Post # 11
I have mine insured through Jeweler’s Mutual. It’s $15,000 of coverage and I pay about $180 a year.
Post # 12
We added mine to our renters insurance (through Geico). It was $100/yr for each $10,000 of coverage.
Post # 13
Um. That sounds REALLY high.
I forgot how much mine was but it was in the range of @abbyful: ‘s price.
Unless you have a 40K ring!
Mine’s insured with my ring specs not just the appraised value. That way if something -god forbid!- happens to it I can get my exact ring back. Makes sense?
Post # 14
We shopped a few places and all of them came back in the $10 per year per $1,000 your ring is insured for. So unless your ring is appraised at $30,000, I’d say $300 is too much.
Post # 15
Geico is charging me close to $400 a year (added it to my home insurance) and that is the average price I found when checking with other insurance companies.
EDIT: I have 20K coverage on my ring
EDIT: It also depends on where you live!!! I live in a city–crime rate is higher than the suburbs!
Post # 16
@KatNYC2011: You got a much better rate than I did with Geico. I should check with them again !