Did you insure your rings?

caitlinmca

Did you insure your rings? If so, did you take them to the jewelers where they were originally purchased or any local jewelers for the appraisal? Then, did you go through your normal insurance company that you have your renters/homeowners insurances or someone else?

My fiance and I are currently living with my fiance's parent's for several reasons thus no renters insurance/homeowners insurance, and have now just started to think about insuring our rings, but I don't know really where to begin, or the process.

Thanks.

AprilH81

Our rings are all insured (both bands and my e-ring).  I got a personal articles policy with the same company that my car insurance and home owner's is with.  It covers everything EXCEPT intentional destruction.

Mine is about $70 a year for all three rings with a small deductible, which I think is $100.

All of our rings were appraised by the jeweler, so we just submitted that paperwork and receipts to our insurance co. 

photokitty

My rings are insured. DH's are not. Mine are on my homeowners. I take them to my jeweler once a year to have them checked and every 2 or 3 years I get it reappraised (about $25). I then adjust my coverage accordingly. My jeweler does not offer any warranty.

My sister and her wife bought their rings at a jeweler that covers their ring from theft with a police report, damage and breakage as long as they take it in every 6 months. It does not cover loss. She figured that it would take 5 years to "buy" a new ring wight eh insurance payments they would be making. Their rings are on the modest side.

If you have an expensive ring that you would have a difficult time replacing out of pocket I suggest getting it insured.  You might be able to get a rider on your FIL's policy. Or check and see if you can get in through your car insurance company.

misspuppychow

We insured our rings. We opted against adding it in with our home owner's insurance policy because the coverage just isn't quite as good.  Our policy is through jeweler's mutual.  It covers EVERYTHING, including intentional destruction and is about $75/year.  All they do is deal with insuring jewlery.  For your home owner's policy, that's a side gig. I wanted to make sure our rings were insured with someone who did jewelery #1.

melbenso

We are in the process of insuring our rings (along with some other jewelry).  I got my ring at the Diamond Cellar and they gave me an appraisal when I picked it up as a part of the purchase price.  DH had his custom made by his cousin.  We are using the receipt she gave us for the purchase price - she made it for him at cost of materials as a wedding gift, but would normally charge 4 times as much for the ring if she were selling it outright.  So the receipt for what she would charge is more than enough to cover what we paid for it.

kykysbridal

Yes, you should always insure expensive jewelry. I worked in Homeowners insurance for 15 years before I became a jewelry designer and florist:). It's called 'scheduling.' Which means you schedule whatever item with an appraisal of the exact cost and value. It will also include pictures and will go under either homeowners or renters insurance. You can schedule anything of higher value, such as jewelry, artwork, china etc. it ensures that you recover the full value should something unfortunate happen. Congratulations!