ring insurance?

DeliteSmith

Hey girls, just wondering who you have used for your engagement ring insurance (if any).  We got a quote from our home insurance and it was a lot (something ridiculous like double what we pay now, I think you have to get a "rider" or "personal article policy) so I was looking online and the only one that really pops up is "Jewelers Mutual", but I'm clueless as to what my deductible should be and don't really understand it.   Thanks for any help!

DansBride52911

I have car insurance through Liberty Mutual. I ended up adding "Renter's Insurance" to the policy (and got a discount for having multiple policies) because we don't have our own home yet and my ring is covered under that insurance...I pay around $17.00 a month.

Here's a helpful article on The Knot:
http://wedding.theknot.com/getting-engaged/engagement-rings/articles/engagement-ring-insurance-101.aspx

angiem33

I have mine insured through the renters insurance policy with Amica.  The ring was purchased for $18,000.00 and is additional $70.00 a year to the renters insurance policy.  Very good company to work with.

SummerBoston10

Your quote and policy are going to depend greatly on how much the ring is appraised for and whether you want replacement insurance or appraised value insurance.

Many insurance companies will only allow you to add a rider up to $20K.  My ring is appraised for way more than that so I actually had to switch my homeowner's insurance to Chubb. 

If you opt for appraised value insurance your premium will be higher than replacement.  As we all know, jewelry appraisals are way higher than what was actually paid for a ring.  I opted for appraised value which is not necessarily the norm for jewelry insurance.

legallybride2

I have mine through my homeowners insurance policy with Amica. I used to have it with Travelers. The rates and coverage are comprable I've found.

i2012do

I used Liberty Mutual, and it was the most affordable I found.
We didint have renters insuracne so we took a policy for 25,000 that includes my ring, our electronic--tv, ipad, laptops, etc, and damages

You cuould either pay it monthly (with a charge) or all at once. It was like under 200 bucks

hollygb22

we need to get on this.

we called our homeowners and we had to add a rider because of the appraisal of the ring. It was absolutely ridiculous..something like an extra 100$ a month.

We're going to switch our homeowners to Amica soon, where our cars are insured, and hopefully we can work something out.