Insurance for Engagement Rings

Original post by cookiek1

Jul 09, 2003 04:47 PM

My allstate broker just told me that insurnace for my ring is going to cost 450 a year??? I thought this way very highs ince I was just adding it to my home owners
... Any thoughts

Jess2 Posted: Jul 10, 2003 08:35 AM

Re: Insurance for Engagement Rings

My insurance for my ring was alot higher when I lived in NYC, but since I moved to Jersey it is actually lower. $450 seems very high though. My old insurance was something like $15 for every thousand it was appraised for.

jenny2penny Posted: Jul 10, 2003 08:36 AM

Re: Insurance for Engagement Rings

Mine too, where?

itsbouttime Posted: Jul 10, 2003 08:38 AM

Re: Insurance for Engagement Rings

He's was based out of Boston w/ deployments down to the dominican repl. and then out to LI at Fire Island. Did 8 years active duty then onto the reserves.

chris605 Posted: Jul 10, 2003 10:12 AM

Re: Insurance for Engagement Rings

I have statefarm ins and it only cost mt $130 for the year....

gailb Posted: Jul 10, 2003 10:22 AM

Re: Insurance for Engagement Rings

It might of gone up, i just went on the site, and it is giving me 335p/y on 15000

Betty Posted: Jul 10, 2003 10:24 AM

Re: Insurance for Engagement Rings

I have CHUBB and it is $263 a year. We looked at a bunch of them and liked Chubb the best

gailb Posted: Jul 10, 2003 10:35 AM

Re: Insurance for Engagement Rings

if I may ask, what did your ring appraise for , for such payments?

Stephanie1103 Posted: Jul 10, 2003 11:42 AM

Re: Insurance for Engagement Rings

I speak fluent insurance!

It's usually a minimum of about a $2.00 rate per $100 of value on a homeowners policy. Could be more depending on what company you use. The coverage though is very good. It's 'All Risk' meaning no matter what happens, the company will pay out to get you a new ring. Make sure you get the same coverage when you're shopping around. The annual premium may be less, but the coverage may be too!