Question about ring insurance

saralevering

Hi Ladies -

Congrats to everyone on recent engagements!

In terms of insurance for the ring, we have it under our homeowners insurance policy.  Do we need to purchase anything outside of that?  I know that covers theft, etc but what is the ring actually popped a stone or needed to be repaired...does it cover that too? 

Thank you in advance!
Sara

cebrady89

My ring is insured under our home insurance policy, also. It covers damage to the ring as well as theft of loss. I'm pretty sure they will just pay a dollar amount if anything happens to the ring. I would check with your insurance agent on what exactly is covered before you look to insure the ring separately.

Zimsgirl

I would check with your insurance agent to make sure you don't need extra. My mom has specific ring insurance for hers. Mine would probably fall under renter's insurance but we have a lifetime diamond warranty and everything from Zales on mine

meganb1977

Depending on the value of your ring, your homeowners may have a jewelry rider which will only cover your jewelry up to a certain amount which may not be enough to cover your ring.

Also your homeowner's probably won't cover it if you bang your hand against something and lose a stone out of the ring.

If you want additional coverage, insurance through Jeweler's Mutual or a similar company is very reasonable and may be worth looking into.

lisaalmanza

There are two general ways to do it.  Have it endorsed to your homeowners policy which is an "estimated" value and you might not get the same ring / value you originally had.  Another way is to get a stand alone policy that is an agreed to amount which you will need to get an appraisal for.  We prefered the latter because then we can schedule / list out our bands and any other jewelry we have.  The additional premium is worth it to have it scheduled in the horrible event something happens.  We have insurance with Travelers and if we don't schedule it the most they would cover if it was stolen would have been $1000.   Congratulations! 

getaclue44

My ring is under my FI homeowner's policy--as far as damage to the ring itself--he purchased a plan through the store he bought the ring--as long I get it inspected by them every 6 months, they will repair everything--no quesitons asked