Engagement ring insurance

Still havent gotten insurance, because I wouldnt know where to start. Can you guys tell me what you did or where to go. BTW - How much does insurance cost and when do you have to pay it?

Re: Engagement ring insurance

check your home owners or renters insurance policy, that's what we did... if forget how much it was but i remember it being too much for me. we didn't shop around though, so that's what we get!

Re: Engagement ring insurance

You need to get the ring appraised first and then send the paperwork to your insurance company. Most jewelry stores have appraisers that come in certain times of the week or month. We went to one of the jewelers in the Smithhaven Mall. However, I'm not sure how much it costs to insure a ring because I have been too lazy to send my insurance company the paperwork. LOL

Re: Engagement ring insurance

We added it to our renters insurance.
You can also call Chubb or Allstate for a 'stand alone' policy on the ring.

We added My ring, Jim's wedding ring, and another diamond piece of jewlery I have, which was about $7,000 in coverage. It was about $170 all together.

It's really not that bad. Most place will force you to pay at least $20 payments. But insurance policies are usually for a year. Just like your car or home, so you have about that long to fully pay off the policy just like any other insurance.

Good Luck

ETA:
For quick insurance you can use your jewlery stores valutation of the cost to replace the ring. I wanted Jim's ring insured quickly (scared we might lose it, since he's not wearing it) so I had the jewlery store give me the paperwork before I walked out with the ring and faxed it over to my insurance company that night to add it to my policy. We paid a different amount because we got a deal during the christmas pre-season, but they store put down what it would NORMALLY cost. That way if anything happens before we get a chance to appraise it, it's still insured for at least that value.

Re: Engagement ring insurance

Yay! I have allstate insurance. Im going to call them now and see what they say. Thanks guys!!!

Re: Engagement ring insurance

i used jewelers mutual.. they are online..

its like 2% of the appraised value
so for $6500 appraised im paying 114 for the year!

Re: Engagement ring insurance

Do Not go to your home insurance because once you leave the house coverage ends. You may as specifically if they can provide for it seperately. Try Jewlers insurance. The amount depends on if you want more than the ring.


Here is the search that popped up on Google:


http://www.google.com/search?hl=en&ie=UTF-8&oe=UTF-8&q=jewelry+insurance&spell=1


I have to call my friend after he gets back from work but he has alot insured by them.


Best Wishes,


Thomas

Re: Engagement ring insurance

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Posted by Baldshrimp

Do Not go to your home insurance because once you leave the house coverage ends.

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That's actually not true.
You buy a 'floater' for your policy for the jewlery. It endorses your policy to cover the value of the jewlery.

All of your property (contents) is covered under your home owners insurance even if you leave.

Hence if your car is stolen while you're visiting family in New Hampshire all the contents inside the vehicle are covered. NOT BY THE AUTO INSURANCE but by your homeowners insurance.

If you are walking down the street and get mugged and they steal your purse, coat, bag, and jewlry then it would be covered as a theft under yuor home owners policy.

If your insurer is telling you that NONE of your property is covered when you leave your home, then I would be very suspicious.

I don't know which carrier you are speaking of, but I'd be interested to know, please FM me.


ETA:

By all means you can buy a separate policy, but I just wanted to clarify that the statement you said was incorrect. I don't want anyone thinking that they pay for homeowners insurance for only stuff kept at home. That is simply not true.

Case in point, My personal property that i kept at my desk at work that was destroyed when WTC collapsed was insured by my homeowners policy. This was a big deal because a lot of people just left (and survived) and didn't pick up their laptops, palm pilots or other stuff.

Re: Engagement ring insurance

That's what my best man's insurance Co. told him. It is certainly not for all.

Re: Engagement ring insurance

I got my insurance through Chubb and I pay about $300 a year.

Re: Engagement ring insurance

I called Allstate and my agent wasnt in today so I asked another agenta about my ring. He gave me some Horses*** about having to buy renters insurance and then on top of that getting insurance for the ring. So I told him that a friend of mine got a 'stand alone' policy and that if they werent able to give me insurance I would go elsewhere. A few minutes later I got a call from my agent from his home to tell me I was given the wrong information and that the ring can be insured alone. He said he would call me tomorrow with more information. Sometimes I gotta take out the p*mphand!!

Re: Engagement ring insurance

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Posted by divabride

I called Allstate and my agent wasnt in today so I asked another agenta about my ring. He gave me some Horses*** about having to buy renters insurance and then on top of that getting insurance for the ring. So I told him that a friend of mine got a 'stand alone' policy and that if they werent able to give me insurance I would go elsewhere. A few minutes later I got a call from my agent from his home to tell me I was given the wrong information and that the ring can be insured alone. He said he would call me tomorrow with more information. Sometimes I gotta take out the p*mphand!!

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LOL oh my GOD.. you used the words 'Stand alone' on Allstate!!HAHAHA that's good they know crap half the time.. they always crack me up. I know they are a good company and all but you can find some real gems amoung them who are idiots! Use a few proper insurance terms and they shiver like children.. OMG that is GREAT!! Thanks.. you just made my day.. I'll be smirking all day on that one. Glad I could offer a 'insurance term' you could use on them.

I work for an insurance broker. I deal with insurance companies daily. Although I do not handle personal insurance, it cracks me up to see what they try to pull over the poor average Joe. I've spent the last seven years in multiple insurance courses and classes. I hold three official insurance designations.. why? So I could learn what BS they were shoving at people and what the truth or plain English version of it meant.

They freaked at stand alone policy... Love it!!
You go girl!

HAHAHA

Re: Engagement ring insurance

LOL!!! Did I mention that my friend that has the stand alone policy was you? Ha! Im glad you responded because I would have gone for the whole renter's insurance bit!! Thanks!!

Re: Engagement ring insurance

We got it added on as a separate policy through the place that has FH's homeowner insurance. I think he pays about $450/year.

Re: Engagement ring insurance

i have jewelers mutual also..not bad prices

Re: Engagement ring insurance

I also used Jewelers Mutual. They were recommended by the Jewelry Judge who did my appraisal ( they were awesome) It's like $100+ for the year and they have good coverage (lost/stolen, etc)

Re: Engagement ring insurance

I got mine through Chubb as well, the coverage is for almost 10K and I think it costs about 225-250 per year!

Re: Engagement ring insurance

I have my insurance through Jeweler's Mutual. What you pay is based on where you live and the value of you ring, so it varies from person to person. You can chose to pay one yearly fee or in installments. I pay about 500 dollars a year.

Re: Engagement ring insurance

you have to get a policy called personal articles- and i could nto get it through my insurance unless i had renters insurance for my apt. i deal with state farm. i have my auto policies on there and added a renters a personal articles policy.. call your insurance agent and they will give you the info!

Re: Engagement ring insurance

Since I live with my FIL's, my ring is added into their renter's insurance. When we move out, I will do the same thing.