(Closed) Ring insurance? Yes or no?

posted 7 years ago in Rings
  • poll: Do you have ring insurance? Should we get it?
    Yes, I have ring insurance and I think it is worth it! : (159 votes)
    67 %
    Yes, I have ring insurance but it has been a waste of money. : (3 votes)
    1 %
    No, However I'd like to get ring insurance. : (51 votes)
    22 %
    No, I think it's a waste of money. : (24 votes)
    10 %
  • Post # 3
    Member
    11394 posts
    Sugar Beekeeper
    • Wedding: December 2010

    No, I don’t have ring insurance. My rings are under 1000 dollars though! If I had a ring that expensive you best bet I would be wanting some ring insurance. As long as you can pay for it I say go for it. I have read to many stories on the bee of ladies losing their rings! :/ Luckily most of them have ring insurance! 

    Post # 4
    Member
    5668 posts
    Bee Keeper

    Totally worth it. Especially for $100 a year, which is right around what I pay.

    It’s not just for losing it or it getting stolen. What if you lose the diamond? Damage the band? I can’t see how $100 a year is not worth insurance on something that costs $6500.

    Edit: $100 a year for TWO rings? Do it.

    Post # 5
    Member
    606 posts
    Busy bee
    • Wedding: August 2013

    I don’t have insurance yet but I’m planning on getting it. I know it will hopefully be a waste of money but I really want to be cetain…you never know about those crazy stories where it slips off doing the dishes and goes down the drain… or flys off on a walk etc…I know theres a smal small chance that could happen but I just would feel better.

    But we’re having the hardest time finding an insurance company that will replace with an Identical ring meaning identical jewler etc and not just a “like” ring meaning maybe a lower end jewler/service but same specs. Has anyone who does not have home owners insurance/renters insurance found a company that will insure the ring with an identical replacement or just a check for the amount insurable??

    Thanks!!!

    Post # 6
    Member
    1458 posts
    Bumble bee
    • Wedding: October 2012

    I have ring insurance and am SO glad I do! It’s only like $150 a year, and I imagine my ring was more expensive than I would like to even think about. I got the insurance through Jeweler’s Mutual and basically I can replace the ring up to the appraisal value (which is even more than I paid for it) if it is lost, stolen, damaged. The only thing not covered in the contract was something about nuclear war… haha so let’s hope that doesn’t happen! If I were to lose it with no insurance, I would be devastated. If a ring is $5k or above, you should definitely insure it! It’s a small price to pay for peace of mind!

    Post # 7
    Member
    192 posts
    Blushing bee
    • Wedding: June 2012

    i got my ring insured the same day I got engaged! I think it is def worth it. if something were to ever happen and I lost my ring for some reason, I would feel much better knowing that I would get the insurance money for it and be able to buy another one. if we didnt have insurance for it, and i lost it, we’d be SCREWED! plus, i only pay like $45 a month for it!

    Post # 9
    Member
    1033 posts
    Bumble bee
    • Wedding: October 2010

    So worth it, the cost is definitely worth the peace of mind.

    Post # 10
    Member
    5494 posts
    Bee Keeper
    • Wedding: August 2011

    We don’t have ring insurance for my ring and we won’t be getting it.  Initially we wanted to but when we looked into it, it didn’t make financial sense.   Insurance is 2% of the appraisal value or the cost to replace it.  My ring appraised for over 5 times what Darling Husband actually paid for it so the insurance every year would quickly add up and be more than Darling Husband paid for the ring and more than it would actually cost us to replace it, (knock on wood).  So it just doesn’t make sense in our situation.

    Post # 11
    Member
    4887 posts
    Honey bee
    • Wedding: May 2012

    RING INSURANCE YES.

    Big yes.

    Post # 12
    Member
    907 posts
    Busy bee
    • Wedding: October 2011

    Talk to your insurance agent to see what it would cost to raise the jewelry limit on your homeowner’s or renter’s policy. Sometimes that is cheaper than taking out a separate policy.

    Post # 13
    Member
    1199 posts
    Bumble bee
    • Wedding: November 2011

    So my ring is just on our homeowners policy.  FH had the ring added to the policy the day he got it because he took me to LA to propose (cross country)!  It wasn’t too much more per month – maybe a few dollars.

    Post # 14
    Member
    88 posts
    Worker bee
    • Wedding: August 2013

    Reading this is making me think I should get it.  I know that where my Fiance purchased the rings, they need to inspect them every 6 months to ensure if a stone goes missing they’ll replace it but I don’t think that covers the whole ring.  I need to do research!

    Post # 15
    Member
    1628 posts
    Bumble bee
    • Wedding: July 2012

    I think it’s totally worth it but you got quoted $100?!  I have mine through the same place I have renter’s insurance and it is only about $28 a year for both e-ring and wedding band (a little over $2 a month).

    Post # 16
    Member
    156 posts
    Blushing bee
    • Wedding: June 2012

    absolutely get it. i got mine immediately and it was so easy to do online with Jeweler’s Mutual. 

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