(Closed) What does it cost to insure your ring?

posted 6 years ago in Rings
Post # 3
Member
3232 posts
Sugar bee
  • Wedding: August 2011

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.

http://www.jewelersmutual.com/

Post # 4
Member
5956 posts
Bee Keeper
  • Wedding: April 2018

Yeah, unless you sport the Hope Diamond a small articles floater rate should be less than three dollars per thousand…

Post # 5
Member
3078 posts
Sugar bee
  • Wedding: October 2012

Yea, mine was $30 for the year

Post # 6
Member
3775 posts
Honey bee
  • Wedding: December 2004

$49 per year

Post # 7
Member
4948 posts
Honey bee
  • Wedding: July 2012

About $225/year with no deductible.

Post # 8
Member
286 posts
Helper bee
  • Wedding: July 2011

I pay about $600 a year for Chubbs. No deductible and value replacement is paid in cash.

Post # 9
Member
1548 posts
Bumble bee
  • Wedding: November 1999

$86 for the year, no deductable. 

Post # 11
Member
100 posts
Blushing bee
  • Wedding: August 2013

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
Member
9954 posts
Buzzing Beekeeper
  • Wedding: December 2012

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
Member
155 posts
Blushing bee
  • Wedding: March 2014

$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
Member
5660 posts
Bee Keeper
  • Wedding: August 2012

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
Member
100 posts
Blushing bee
  • Wedding: August 2013

@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.

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