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Just Engaged and Proposals

Ring Insurance how-to..?

ajuvaajuva member
First Comment
I got engaged a month ago, but haven't insured my ring yet mostly because I do not really know how?
Any advice how to get started? My fiancé purchased it in NC, I live in CT i don't know if that causes an issue...? 

Thanks!
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Re: Ring Insurance how-to..?

  • Jells2dot0Jells2dot0 Cowtown mod
    Moderator Eighth Anniversary 5000 Comments 500 Love Its
    Your current homeowner's or renter's insurance company can quote you a personal articles policy. They will need an appraisal to quote you. I have all my insurance (home, car, liability, personal articles) through State Farm.

     







  • I ended up just using my homeowner's insurance.  They didn't ask to see the appraisal, but I did have one done.

    You can also google Perfect Circle jewelry insurance. They have an online quote you can fill out, and I guess you have to fax your paperwork if you decide to purchase the insurance.

    I don't think it matters where it was purchased, because the appraisal value is usually much higher than the purchase price anyway.

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  • lilacck28lilacck28 member
    500 Love Its 1000 Comments Fourth Anniversary First Answer
    edited July 2014
    Kelani23 said:

    I ended up just using my homeowner's insurance.  They didn't ask to see the appraisal, but I did have one done.

    You can also google Perfect Circle jewelry insurance. They have an online quote you can fill out, and I guess you have to fax your paperwork if you decide to purchase the insurance.

    I don't think it matters where it was purchased, because the appraisal value is usually much higher than the purchase price anyway.




    STUCK IN BOX

    I use Perfect Circle insurance. I like it. It covers everything (inexplicable loss, full value of appraisal etc), whereas  some home owner's insurance riders do not, and only cover a small amount. So that's something to look into. 

    You don't have to fax Perfect Circle the appraisal paperwork, you can scan it in. It's all very easy. 

    ajuva
  • misshart00misshart00 Oklahoma member
    2500 Comments 500 Love Its Fourth Anniversary First Answer
    I also have perfect circle. It's $40 a year and was super easy to get an send in the paperwork. They cover loss, damage, theft, etc., where some homeowners insurance doesn't. If you go through homeowners, just check all that out. Not too difficult no matter who you use.
    ajuva
  • annathy03annathy03 member
    500 Love Its 500 Comments Third Anniversary Name Dropper
    edited July 2014
    Another perfect circle customer here.  I like that it covers more than standard homeowner riders.  My insurance agent actually uses PC for her ring as well.

    ETA: Cost depends on your ring appraisal, deductible, etc.  My annual premium is more than @misshart00's, so yours could be more or less depending on those factors.
  • I use Perfect Circle and am completely happy.  Our apartment was in my then FI's name, so they wouldn't let him put my ring on his policy until after we were married and we had a joint policy.  I emailed Perfect Circle, PDFed the paperwork since I didn't have a fax handy, and it was set up within 24 hours.  Mine ended up being about $150/year with a $500 deductible.  I'll find out when the 1-year policy is up if it's better pricing and service to put it on renter's property insurance policy.  I'm leaning towards keeping it on Perfect Circle so it's covered in all circumstances, and since we'll be new homeowners, to minimize potential claims on that policy.
  • ajuvaajuva member
    First Comment
    Thank you all, we are not home owners yet so we do not have home owners insurance - yet. :) 
    So I will certainly look into Perfect Circle, thanks ! I just wanted something painless since planning the wedding is enough stress!! :) 
  • I see that other users have already recommended to go with Perfect Circle. I just wanted to add my name to that list. Their not very expensive and it works much better that homeowers or renters ins. For example. What if you lose your ring while at work, shopping or on vacation. Homeowners wont be able to help. Here's a link that can give you some more info;) http://www.titanium-jewelry.com/jewelry-insurance-info.html. Hope this helps! 
  • I looked into insuring my ring but I wasn't sure how appropriate it was to ask FI how much he spent? Anyone else have this issue? Or should I say heck with it and just ask?
  • C&E2009C&E2009 member
    Third Anniversary 10 Comments 5 Love Its
    edited August 2014
    OP-I completely agree with previous posters. I went with Perfect Circle. For me, it's $100 a year with no deductible. Just scan your appraisal and boom. @awitmet77 Instead of flat out asking your FI how much the ring cost, ask him to contact the jeweler for a written appraisal. The appraisal is how much the ring is valued at, not how much he paid. So two birds with one stone: you need an appraisal for insurance, and you won't have to ask/won't find out how much the ring cost. edited because paragraphs are not working today :(
  • I have a question.... How much is the minimum to consider putting insurance on your ring? My dream ring is less than 500 dollars. Should I still have insurance once FI proposes or skip it since the cost of insurance would be worth more than then ring in a couple of months?
    11/21/2012 - Chapter 1: The Text
    10/23/2014 - Chapter 2: The Proposal
    11/21/2015 - Chapter 3: The Wedding

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