(Closed) Ring insurance? Yes or no?

posted 10 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!

    Yes, I have ring insurance but it has been a waste of money.

    No, However I'd like to get ring insurance.

    No, I think it's a waste of money.

  • Post # 77
    Member
    2811 posts
    Sugar bee
    • Wedding: December 2004

    I have no idea why anyone would NOT insure their ring.  It is absolutely a necessary expence.

    Post # 78
    Member
    1783 posts
    Buzzing bee
    • Wedding: July 2012

    Haha I think I have overkill insurance on mine. My e-ring is covered by a lifetime warranty on the stones by the store (also resizing, cleaning and rhodium (sp?) coating included). I then also have a SEPARATE insurance plan for my ring that covers it within Australia, AND when we were in the insurance company at our meeting she added it to the home & contents insurance too (thou at no extra cost). I was just warned that if I ever travel outside of Australia to specifically get it included in my travel insurance or leave it safely locked up at home where it IS insured.

     

    Overkill yes, but the only insurance that covered me completely for everything and everywhere was the separate ring insurance. The store and adding it to the h&c was just incidental and didn’t cost us any extra anyway…

     

    I am just a lot more secure knowing that even thou it can’t be replaced emotionally (as nothing will ever replace the original ring)at least realistically I can get the ring replaced without being out of pocket again.

    Post # 79
    Member
    833 posts
    Busy bee
    • Wedding: June 2011

    Yes I say get it.  I didn’t even feel comfortable wearing my ring until we got the insurance.

    Post # 80
    Member
    833 posts
    Busy bee
    • Wedding: June 2011

    @youngliz—I think around 1k /yr for an 80k ring is a steal…I pay 500 a year for a 20k ring…

    Post # 82
    Member
    77 posts
    Worker bee

    We got insurance on my e-ring, and we also paid ~$1000 for the annual premium. For now, it’s for peace of mind. When I got the ring, it was a little big and kept spinning around, and sometimes during the colder months, it feels looser (even though it’s been resized). Previously I never wore big jewelry or anything with stones, so I wasn’t used to it at all. I don’t think I’ll insure it after a year or two though, once I’m used to wearing it all the time and feel less paranoid about losing it.

    Premiums vary of course depending on the ring’s appraisal price, where you live in the US (I happen to live in NYC, so it’s much more than other areas of the country), and also what kind of neighborhood you live in (is it a gated community, is there 24-hour security, etc. – if so, it would be less).

    Post # 83
    Member
    424 posts
    Helper bee
    • Wedding: October 2012

    My ring was about 3,000 and I def want to insure it, I would if I were you…

    Post # 84
    Member
    424 posts
    Helper bee
    • Wedding: October 2012

    My ring was about 3,000 and I def want to insure it, I would if I were you…

    Post # 85
    Member
    424 posts
    Helper bee
    • Wedding: October 2012

    My ring was about 3,000 and I def want to insure it, I would if I were you…

    Post # 86
    Member
    520 posts
    Busy bee
    • Wedding: May 2012

    No ring insurance here. It’s a family heirloom so if it were lost/broken it would be more about the sentimental value. The monetary value of the ring isn’t enough to warrant insurance. 

    Post # 87
    Member
    326 posts
    Helper bee
    • Wedding: October 2011

    I have $12k worth of diamond on my finger, so YES I/we want it insured. We have State Farm for homeowners, and they added a “personal articles” policy. It literally is a few dollars a month, with 100% replacement cost if I lose it, if its stolen, if I drop it down the toilet, if the stone falls  out and is lost, heck, even if i run it over in the driveway and crush it. All they did was verify the lasered # on my diamond is the same that is on the appraisal certificate.  No matter what the circumstance, they will pay me for it. Totally worth it to us!

    Post # 88
    Member
    2 posts
    Wannabee

    I have a seperate Policy under my homeowners insurance and it was TOTALLY WORTH IT! I went to have my diamond ring looked at cause I thought maybe I had pulled the prong away a little as it looked funny… Well I was NEVER in a million years prepared for her to come back and say that the entire corner had sheared off… THANK GOD it was insured… I could never have afforded to replace it.. as devistating as it was… atleast I have a new ring on my finger.. Insurance gave me two options. I pick out my own… Or they would do it for me and it would still be gia etc… I chose to pick mine out myself… and got the check for the full insured value. 

    ETA… No deductible and about a 100 dollars a year  totally worth it… 

    Post # 89
    Member
    2294 posts
    Buzzing bee
    • Wedding: August 2011

    My ring is insured…it’s the most expensive/nicest thing I own, hand made by a friend and I was almost in tears the other day when I wacked it against a table and knocked the diamond loose. Thank goodness I didn’t lose the stone, but hey…if I did, there is insurance. It’s a good idea if you’re sporting something valuable (to protect it from mayhem, like me)..

    Post # 90
    Member
    125 posts
    Blushing bee
    • Wedding: December 2011

    Ring insurace is a must, after about 15 years of marraige my mother lost her engagement ring while gardening, it was a very tight ring she could barely take off normally and she never could understand how it happened, but it did. She still had the wedding band on and was so upset because her erong was a very unusual design and she never could get it replaced but she could have replaced the wedding band for about $100 with any other gold band. 

    She didnt get a new ring for about 5 years when she saved up herself and was able to buy in a closing down sale. Now she weats her wedding band on top. 

    Post # 90
    Member
    125 posts
    Blushing bee
    • Wedding: December 2011

    Ring insurace is a must, after about 15 years of marraige my mother lost her engagement ring while gardening, it was a very tight ring she could barely take off normally and she never could understand how it happened, but it did. She still had the wedding band on and was so upset because her erong was a very unusual design and she never could get it replaced but she could have replaced the wedding band for about $100 with any other gold band. 

    She didnt get a new ring for about 5 years when she saved up herself and was able to buy in a closing down sale. Now she weats her wedding band on top. 

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