Post # 1
Just got our new premium for my ring to be covered and was surprised by the cost. I’m not sure if it’s due to where we live or what but we are now going to be paying $53.00/month.
If you don’t mind sharing your insurance costs and possibly how much they are insuring.
Post # 3
Darn, that is a lot. Jeweler mutual charges about $1-$2 per a hundred dollars your ring is worth per a year based on the apprasial amount.
Post # 4
Yeah, unless you sport the Hope Diamond a small articles floater rate should be less than three dollars per thousand…
Post # 5
Yea, mine was $30 for the year
Post # 7
About $225/year with no deductible.
Post # 8
I pay about $600 a year for Chubbs. No deductible and value replacement is paid in cash.
Post # 9
$86 for the year, no deductable.
Post # 10
thank you for the link. They quoted me about the same so I guess it’s not too out there it just seems allot per month.
Post # 11
Most insurance companies will calculate the insurance premium based on the appraisal amount. I’ve done some serious research over the last couple of weeks and ideally, you would find one that charges about 1.5-2% of the appraised amount of the ring. Higher prices (such as for Chubbs) have the benefit of the cash replacement value. Unfortunately in Canada you can’t just insure your ring with them on it’s own. You have to have home or renters insurance with them so that was out. Jewelers Mutual has a great rate for good coverage but I really like to communicate with an actual individual in person vs. a website. I ended up going with my Mom’s home insurance agent who is a family friend and we’ve known him for years. The premium was only about 25$/yr higher so Fiance and I were happy with that. I’m going to be paying 217$/yr no deductable.
Post # 12
My E-Ring is covered by our Home Insurance Policy (on a Rider). Believe we are paying just over $ 200 annually.
$ 53 a month does sound like a lot… that would work out to OVER $ 600 a year.
For that kind of money, I would hope that you’d have a HUGE Diamond !!
Post # 13
$108 for year, which is about $1.50/month per $1,000 of ring’s appraised value.
ETA: My ring is on a rider policy through my homeowner’s insurance. Insurance is through GEICO.
Post # 14
Not enough per month for me to even notice how much it is. We have it covered on our Homeowners policy as well
Post # 15
@This Time Round:
I’m pretty sure a huge rock is indeed the case if JM quoted her about the same! I just didn’t see that post prior to my reply.
Post # 16
It’s not a huge rock, it’s nice size :). I realize it’s because I live in CA, I played aroung with JM and used different zip codes and I got the quote down to almost half using a different area. Seems to be everything costs more here 🙁