Re: is it worth it to insure my ring?

Of course it is definitely worth it to insure your ring.

Re: is it worth it to insure my ring?

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Posted by DanaMZ

Yes I would get it insured.

My FH would not propose to me until he had my ring insured!

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Mine wouldn't either...Sort of weird that our insurance agent knew I was getting engaged before I did

It's definitely worth the peace of mind...

Re: is it worth it to insure my ring?

YES!!!

Re: is it worth it to insure my ring?

Have to agree with the crew here. Get it insured asap. It's not expensive. It doesn't matter how much the ring is, if you lost it or it got stolen and you had to replace it, could you afford to? First you would be heartbroken, then you would be disappointed that you would have to save up enough to buy a new one. Insuring the ring will provide you with a replacement quickly and without too much trouble. Also, your ring should appraise higher than what you bought it for (hopefully) and that will allow for a price increase as time goes on. Some policies offer replacement cost insurance.

Keep in mind that the higher your appraisal, the higher your insurance premiums will be. When you get the appraisal, ask for an insurance appraisal.

Re: is it worth it to insure my ring?

I did it, like someone said just at least for piece of mind

Re: is it worth it to insure my ring?

My engagement ring is insured and as soon as we pick up my wedding band that will need to be insured as well.

Better safe than sorry right?

Re: is it worth it to insure my ring?

Definitely get it insured.

If you don't have homeowners, you can take out a renters policy and get a separate jewelry policy.

Calling your car insurance company is a good way to start, most of the major insurance companies offer these policies (and it's easier to get if you are in NY).

Re: is it worth it to insure my ring?

It's definitely worth it to get it insured.

Re: is it worth it to insure my ring?

My insurance on my ring, which is valued at $4300 is about $2 a month. I def think it's worth it.

Re: is it worth it to insure my ring?

My jeweler appraised mine for free

we certainly did NOT have a receipt b/c it's my hubby's friend and he doesn't think to get receipt

my insurance is thru Chubb- for the appraised value- not what we paid

I was told to do it that way- b/c the price of diamonds are always going up- so if I lose it in 5 years- I might not be able to replace it for the same price

I pay 2% of the total value of the ring for the year

Re: is it worth it to insure my ring?

I definitely think it's worth it to insure it no matter how much.

Re: is it worth it to insure my ring?

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Posted by dleeny

it's definitely a personal choice. my e-ring is insured for replacement value and just like any insurance, it's peace of mind.

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yeah exactly, it's the peace of mind for me too. as soon as we got it insured i felt like a burden had been lifted.
on the other hand, my ring is worth it to insure. if it was less than 5K i don't know if i would bother because by the time you do pay the premium a couple of times, you could have another ring.
it's really up to you and how you feel, i would price around just to see HOW much it is because if it is not a whole lot then maybe you shouldn't even be ?ing it-you should just go for it if it's that reasonable. Check it out, good luck!

Re: is it worth it to insure my ring?

I thought that you shoudlnt get it apraised for more because when you actually submit the claim the insurance company will only reimburse for what you paid?

I thought there was somehting on the news last year with regards to Zales and they over apraising rings and people wanting their insurance to pay appraisal value and they were told no so then it was like why have it appriased for more than its worth because it doens't matter.

I am confused is this not true? does it differ with insurance companies?

My FH had the ring insured before he gave it to me. I think its smart to have insurance, although I hope its something I will never need because I would be so sad if something happened to my ring.

Re: is it worth it to insure my ring?

If you have a certified diamond, with certificate do you still need to get it appraised for insurance. trying to save the 100 bucks..

Re: is it worth it to insure my ring?

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Posted by smara

If you have a certified diamond, with certificate do you still need to get it appraised for insurance. trying to save the 100 bucks..

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Does anyone have the answer to this..........

Re: is it worth it to insure my ring?

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Posted by smara

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Posted by smara

If you have a certified diamond, with certificate do you still need to get it appraised for insurance. trying to save the 100 bucks..

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Does anyone have the answer to this..........

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I dont know about all companies but I know Jewelers Mutal requires an independent appraisal, most GIA certificates only appraises the main stone. A independent appraiser will appraise the value of the entire ring.

Re: is it worth it to insure my ring?

One way around it is, if you took out a personal articles policy on your car insurance policy. This would just cover a certain dollar amt of personal loss whether it be jewelry or something else that is worth insuring. You can get a personal articles policy for any amount of money. You wouldn't have to have an appraisal, but you would need some sort of receipt.

Re: is it worth it to insure my ring?

DEFINALTY!!!

my friends went on vacation to jamaica and they went surfing, she brought her ring with her, left it in the car ( for some stupid reason ) and the car ended up getting broken into and they stole their bags, with her e-ring in it...

Re: is it worth it to insure my ring?

I would definitely insure it. Mine is insured even if I lose it! It's a big worry off my shoulders.