(Closed) Ring Insurance – Australia

posted 4 years ago in Rings
Post # 2
Member
613 posts
Busy bee
  • Wedding: May 2015

I tacked mine on as an extra on our home and contents insurance I’m covered for the full cost it was appraised at. However I have heard some will only cover x amount of dollars

Post # 3
Member
1842 posts
Buzzing bee

Most people I know have it added on to their home and contents insurance. It needs to be put on as a separate item as most insurance companies have a max worth of $2000 per item (assuming your ring is worth more that that). You would also need to have extra contents insurance that covers items that are regularly taken away from the home. 

Post # 4
Member
2655 posts
Sugar bee
  • Wedding: December 2016

I’m another Aussie bee whose ring has been added onto the home and contents insurance. My Fiance handled it all though, as I don’t know how much he paid for the ring and he doesn’t want me to know.

Post # 5
Member
224 posts
Helper bee

My ring is insured through QReport. It cost me under $500 for the year.  It’s covered for theft, damage and mysterious loss both in Australia and overseas. It also lets me choose my own jeweller. The cover is up to 125% of the insured value and the premium is 2.75% of the cost of the ring. 

 

Post # 6
Member
139 posts
Blushing bee
  • Wedding: March 2017

I’ve been looking at this too- my ring value is not in line with the contents of my home (our priorities) so the insurance companies want us to over insurance our contents in order to then pay a separate add on and insure the ring. So it would cost a lot more to do it that way than seems fair.

However we could not afford to pay for the ring a second time so it seems more important to insure it. 

I think an independent one like QReport is the way to go. Just not keen on another large expense while saving for the wedding/honeymoon.

From other posts here it appears it is a lot cheaper in the US- even taking into account cost of living differences etc.

Post # 7
Member
15 posts
Newbee
  • Wedding: March 2017

Insured mine through Qreport. Much much cheaper than adding it onto our contents insurance.

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