Ring insurance

starlite21l

I just got engaged yesterday and we want to insure my ring ASAP. We have Progressive home insurance and I know we can put my ring under a rider as one option. The other option is buying a separate policy just for the ring/jewelry. It seems like most places recommend Jewelers Mutual, does anyone have experience with them? Would you suggest them or someone else Thanks!!

BunnyCookie

I use "A Perfect Circle". I like it because they cover repairs, lost ring, stone falling out, things like that. You can also choose no-deductible options.

shoebunnie

We added a policy to our homeowners. My only complaint is they only cover the purchase price, not the appraised price. The center diamond in my ring is unique and it would not be possible to replace the ring for the original purchase price. My understanding is this is a common practice.

ohmrs2014

I went thru Jeweler's Mutual which is now Perfect Circle.  They insured appraisal price of my engagement ring and for my wedding band, just required the receipt.

muenginerd

We went through our insurance agaent and did a personal property policy seperate from the homeowner's insurance.

The upside is that it covers my ring, his Bass and Amps, and my DSLR.  These are things that travel out of the house often and if something happens to them the deductible is lower and doesn't go against your home owners.  There was also some details about FI not being on homeowner's since I already had the house and so he would not be able to make a claim for the ring until after we were married (don't remember all the details it just worked out easier this way.)  It was cheap too, like $30/year.

Jells2dot0

We, too, did a personal articles policy via State Farm, which is who I use for all of my insurance. The amount allocated under our homeowner's insurance for valuables wasn't enough to cover it. So, I'd check to see what is covered first.Our premium, however, is $418/year! The premium will vary due to the value of your ring, but I felt like even if it might have been cheaper elsewhere, I was most comfortable having all of my insurance in one place ( our case, cars, homes, personal liability, and this.)

starlite21l

Thanks ladies!!

peaches5161

First off, congratulations!!!

We did the same thing as scribe95 - added it to our homeowners' insurance. The insurance company actually gave us the option of insuring it for either the purchase price or the appraisal price (it was appraised at 250% of what my fiance actually paid for it). We chose to insure it at the purchase price, since we would just need to buy a replacement from Blue Nile. It was only $80 for the year (1.5 carat solitaire, platinum band), and will cover the ring if it is either lost or stolen. 

sarahtrg

Hi ladies - I had an additional question about ring insuring - where do you take your ring to be appraised? Especially if its been custom made, how do you go about doing that? 

AprilH81

sarahtrg said:

Hi ladies - I had an additional question about ring insuring - where do you take your ring to be appraised? Especially if its been custom made, how do you go about doing that? 

Any reputable jewelry store should be able to appraise it for you for a fee.

sarahtrg

Thanks @AprilH81!