(Closed) Wedding band insurance

posted 7 years ago in Rings
  • poll: Do you have/Are you planning to insure your diamond wedding band?
    It already is : (13 votes)
    39 %
    It's on the todo list : (12 votes)
    36 %
    You can do that?? : (0 votes)
    It's plain/The value isn't worth it : (8 votes)
    24 %
  • Post # 3
    Member
    1927 posts
    Buzzing bee

    It really depends on how much it’s worth and what your deductible is.  We have my engagement ring insured because that’s worth tens of thousands of dollars… but my wedding band cost $250 (less that the deductible) so it doesn’t make sense to insure it.

    Post # 4
    Member
    236 posts
    Helper bee
    • Wedding: November 1999

    I agree with Moose1209.

    At the moment, I only have my engagement ring insured.  But I do plan to have my 2 bands and his band added to the policy.

    Post # 6
    Member
    14657 posts
    Honey Beekeeper
    • Wedding: June 2011

    No, any damage that could possibly happen to it would not be worth claiming insurance for the repair.  I have a few other everyday pieces jewlery that cost almost as much or more and it never crossed my mind to insure them.

    Post # 8
    Member
    5667 posts
    Bee Keeper

    I agree that it depends on what it costs. The band I want is about $5k so I will definitely be insuring it. If it cost $250 I wouldn’t bother. If it would be very difficult to replace it out of pocket I think insurance is the way to go.

    Edit: Jewelers all charge different prices for appraisals, so I would call a few local shops and ask around about pricing.

    Post # 10
    Member
    11390 posts
    Sugar Beekeeper
    • Wedding: December 2010

    @msgraphics: My diamond wedding band was $155. So we didn’t insure it.

    Post # 12
    Member
    5667 posts
    Bee Keeper

    @msgraphics: I would get an appraisal then. Even if you don’t end up getting a seperate jewelry policy you can send the appraisal to the company that does your renters or homeowners policies and add it to that policy. This way, at the very least, if it got stolen during a break in you would be compensated. I think it’s worth doing.

    Post # 14
    Member
    11390 posts
    Sugar Beekeeper
    • Wedding: December 2010

    @msgraphics: Yea platinum + diamonds = More than likely costly. I would get an appraisal for sure!

    P.s Its beautiful BTW! 

    Post # 15
    Member
    7431 posts
    Busy Beekeeper
    • Wedding: October 2009

    @Aure: that depends on your deductible, and what type of coverage you have for jewlery under a homeowners policy. Most basic policies only cover $1000 blanket for jewelry, and that is after you meet the deductible (so if the only thing you claim is a $1000 ring, and you have a $1000 deductible then you get $0)

    I have a separate policy that has no deductible and I have all kinds of things insured on it. To me, its worth the $6 a month I pay

    Post # 16
    Member
    5667 posts
    Bee Keeper

    @MrsSl82be: My assumption was that a wedding ring wouldn’t be the only item stolen during a break in so a deductible would likely be met. I pay $98 a year for my e-ring insurance (no deductible). I was shocked at how cheap the insurance is. If I didn’t have a separate policy on it, though, it would be on my renters insurance.

    The topic ‘Wedding band insurance’ is closed to new replies.

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