Engagement Ring Insurance??

lopezeli

I am looking for insurance for my engagement ring. Someone mentioned Jewelers Mutual? Has anyone heard or used them? If not, where else did you get your ring insured. And I can't go through my renters insurance because I don't have any! Help!

J&K10910

Do you have car insurance? 

I have a personal articles policy through State Farm.  You should be able to get one through almost any insurance company.  I would go with a company you already have insurance through if you have insurance on anything, because then you'll usually get a multi line discount.  If not, I've heard good things about JM.

J&K10910

Also?  Renter's insurance is a really good thing to have. 

When I added renter's to my car insurance, the cost of the insurance was less than what I saved with the multi line discount, so getting $15,000 in renter's insurance actually LOWERED my insurance payment. 

naomikb

I have heard of Jewelers Mutual, and I have heard that the policies are expensive for what you can get elsewhere in policies that cover other belongings - like renters insurance through regular insurance agencies.

Our insurance at our house covers jewellery up to $15,000 and I didn't need to get additional coverage.

lopezeli

Thanks for the suggestions! I live in New Orleans, and renters insurance is SUPER expensive since Hurricane Katrina. I called my auto insurance and asked if I could add it on, and they said no . Any other suggestions??

J&K10910

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_chit-chat_engagement-ring-insurance-1?plckFindPostKey=Cat:Wedding%20BoardsForum:14Discussion:3c026f14-d57d-4965-887e-15bf2430fce7Post:9739fed5-4b5b-4035-ad9b-c743b5fa6098">Re: Engagement Ring Insurance??</a>:
[QUOTE]Thanks for the suggestions! I live in New Orleans, and renters insurance is SUPER expensive since Hurricane Katrina. I called my auto insurance and asked if I could add it on, and they said no :(. Any other suggestions??
Posted by lopezeli[/QUOTE]

Who do you have auto insurance with?  I find it so odd that they don't have a personal articles policy.

mellimel19

I went with Jeweler's Mutual (I have no other type of insurance to add the ring to). I've been pretty happy with them so far, as others have said, their policy is very straightforward, and they are a reputable company.

classykat22

I have JM for my rings as well and have been very happy with them.  I didn't find the premiums to be out of line for the coverage provided...I would recommend looking into them.  

TheDoctor10

You don't necessarily need to use a separate company if you already have insurance for your car, home, etc. Just take out a supplemental policy.

With State Farm (who also covers my house and car), I took out a "Personal Articles" policy for my FI's ring, covering the entire appraised amount. 

Some folks have suggested that the ring may be covered under your home insurance policy...I advise you to take a close look and ask your agent.

If your homeowner policy is like mine, then your engagement ring will only be covered if lost in the home due to something like a fire or home theft. The Personal Articles policy covers the ring no matter where we are and for more types of losses than in the Homeowner Policy.

samsalzano

You can cover it on your home owner insurance if you have any

achiduck

My house insurance covered my ring. I had to have it appraised though. Their rule was that if it was valued under a certain dollar figure it was covered (but I had to send in a copy of the appraisal). If it had been over their set limit we would have had to add a rider.

lopezeli

Thanks everyone! I don't own a house...so I don't have home owner's insurance. My auto insurance is with AAA and they said I couldn't add a personal property item to it. Kinda weird. I'll have to look into jewelers mutual...it sounds like it's going to be my best option...

angelsong21

We also took out a policy with the same insurance company we use for renter's and auto insurance.  It is $6/month, if I'm remembering correctly (just for the ring portion).