Ring Insurance

MrMrsKaz · August 2010

Not sure if this is the right section for this but I just got engaged two weeks ago finally after waiting 5 years

but now I need to insure the ring.... It is crazy how much a ring cost and there is no way in hell I want something to happen to it and everyone says you need to insure it but not sure where to start looking

does anyone have any recomendations or where did you get your insurance if you are going to ....I dont know if this matters but I live in California....

twilight.rose · August 2010

I know you can generally add ring insurance as a rider to any homeowners' or renters' policy.

staceytaylor0704 · August 2010

I got mine through USAA, who I also have renters and auto insurance with.

jagore08 · August 2010

All three of our rings are insured with our renters insurance.

redheadfsu · August 2010

we got a rider to our house insurance.

HobokensFury · August 2010

If you want a seperate policy for your ring go with Jewler's Mutual. That's what I went through and it's very reasonable.

MrMrsKaz · August 2010

I have read a lot of places that says don't insure your rings with your home insurance because most of the time they don't cover the whole thing and by going with a separate insurance that specializes is a better choice.

jagore08 · August 2010

My insurance (insured with my renters) covers the entire cost of my ring. Just make sure you read the policy before you commit.

redheadfsu · August 2010

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_just-engaged-proposals_ring-insurance-4?plckFindPostKey=Cat:Wedding BoardsForum:683Discussion:9006dbf8-90ce-48aa-91ee-9a6b47e133dfPost:d4de2704-7fe1-4b4b-9845-09673faf1830">Re: Ring Insurance</a>:
[QUOTE]I have read a lot of places that says don't insure your rings with your home insurance because most of the time they don't cover the whole thing and by going with a separate insurance that specializes is a better choice.
Posted by MrMrsKaz[/QUOTE]

Mine is completely covered. Are you sure they are talking about a rider/ add on for personal property? You might be misunderstanding what the articles were saying. They might be advising to get a rider b/c basic homeowners insurance only overs a certain amount of jewelry (which normally doesn't cover the cost of your ring). Each insurance company is different, but most have some type of personal property insurance that you can add on to your plan. Having several things covered under one insurer can give you a big discount (at least with our State Farm policy). But of course read the policy.

melliott09 · August 2010

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_just-engaged-proposals_ring-insurance-4?plckFindPostKey=Cat:Wedding%20BoardsForum:683Discussion:9006dbf8-90ce-48aa-91ee-9a6b47e133dfPost:4acaccee-332b-4141-bfb2-53f6b60104b4">Re: Ring Insurance</a>:
[QUOTE]I got mine through USAA, who I also have renters and auto insurance with.
Posted by staceytaylor0704[/QUOTE]

This is who I have! I love them! Can't beat their rates, especially in Jersey!!

You should have renters or homeowners insurance to begin with, and they have policies for high priced items such as your ring. If you go through the same company you use for your house and /or vehicles, you will most likely get a discount.

Jelenny · August 2010

my fi who works at nationwide did an "inland marine" (if i spelt that right) policy...so basically my ring for $50 bucks a year additional to our homeowners has it's own policy...

you have to really check out adding it to your renters or homeowners because some of those max out...example if we added it to our homeowners then the max payout is $1200 if my ring was less or that amount that would be good...my ring is more so if something happened to it (lost, stolen, whatever) with the seperate policy we get what the ring is worth (we did have to pay for appraisal)

for me it's that eases my mind

MrMrsKaz · August 2010

thank you everyone

this is all very helpful.... at the moment we do not have a house so I will check with USAA and Jewler's Mutual.

melliott09 · August 2010

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_just-engaged-proposals_ring-insurance-4?plckFindPostKey=Cat:Wedding%20BoardsForum:683Discussion:9006dbf8-90ce-48aa-91ee-9a6b47e133dfPost:90b28755-5e8f-4100-8f50-144a8d6d0765">Re: Ring Insurance</a>:
[QUOTE]thank you everyone this is all very helpful.... at the moment we do not have a house so I will check with USAA and Jewler's Mutual.
Posted by MrMrsKaz[/QUOTE]

USAA is a military member financial institute only (or used to be 12 years ago when I became a member) so I don't know if they will extend membership unless you have a military member in your family. Just an FYI

staceytaylor0704 · August 2010

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_just-engaged-proposals_ring-insurance-4?plckFindPostKey=Cat:Wedding BoardsForum:683Discussion:9006dbf8-90ce-48aa-91ee-9a6b47e133dfPost:5fa2f5dd-a4d5-44ec-ac74-432597d8b6a3">Re: Ring Insurance</a>:
[QUOTE]In Response to Re: Ring Insurance : This is who I have! I love them! Can't beat their rates, especially in Jersey!! You should have renters or homeowners insurance to begin with, and they have policies for high priced items such as your ring. If you go through the same company you use for your house and /or vehicles, you will most likely get a discount.
Posted by melliott09[/QUOTE]

Yep, they are great. When I took my ring to be appraised, the gemologist asked me who I had insurance with. I told her USAA and her response was "oh GOOD, they are great"

MrMrsKaz · August 2010

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_just-engaged-proposals_ring-insurance-4?plckFindPostKey=Cat:Wedding BoardsForum:683Discussion:9006dbf8-90ce-48aa-91ee-9a6b47e133dfPost:501a0e14-730b-45d1-9083-43b383b994d7">Re: Ring Insurance</a>:
[QUOTE]In Response to Re: Ring Insurance : USAA is a military member financial institute only (or used to be 12 years ago when I became a member) so I don't know if they will extend membership unless you have a military member in your family. Just an FYI
Posted by melliott09[/QUOTE]

oh yes they still are my FI used to be a Marine...we bank with them and have a car loan ... so much better when it comes to interest

mrsbruff2b · August 2010

Do you even NEED ring insurance? What the heck does RI cover!?

irshis20 · August 2010

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_just-engaged-proposals_ring-insurance-4?plckFindPostKey=Cat:Wedding BoardsForum:683Discussion:9006dbf8-90ce-48aa-91ee-9a6b47e133dfPost:41aa38b7-042d-4f12-8260-492bc7ebf170">Re: Ring Insurance</a>:
[QUOTE]Do you even NEED ring insurance? What the heck does RI cover!?
Posted by mrsbruff2b[/QUOTE]

What do most insurance policies cover?

What would you do if something happened to your ring? If it was stolen, lost, a diamond fell out, etc? An insurance policy ensures your ring will be replaced at value should something happen to it. Otherwise you can kiss your/your fiance's investment goodbye.

HobokensFury · August 2010

When wondering if you need ring insurance or not ask yourself this question..

If your ring gets lost or stolen could you afford to replace it without financial hardship?

If money is no object then no just get a new one. If like most of us you couldn't afford to replace it you need insurance because they pay for the replacement.

melliott09 · August 2010

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_just-engaged-proposals_ring-insurance-4?plckFindPostKey=Cat:Wedding%20BoardsForum:683Discussion:9006dbf8-90ce-48aa-91ee-9a6b47e133dfPost:dad421fa-f9df-4033-8711-13695e2e2946">Re: Ring Insurance</a>:
[QUOTE]In Response to Re: Ring Insurance : What do most insurance policies cover? What would you do if something happened to your ring? If it was stolen, lost, a diamond fell out, etc? An insurance policy ensures your ring will be replaced at value should something happen to it. Otherwise you can kiss your/your fiance's investment goodbye.
Posted by irshis20[/QUOTE]

My regular homeowners doesn't cover jewelry, so if I didn't have a rider, nothing is covered. But I believe each policy is different, so I would call your renters/homeowners and ask what is covered and if a rider is needed.

MrMrsKaz · August 2010

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_just-engaged-proposals_ring-insurance-4?plckFindPostKey=Cat:Wedding BoardsForum:683Discussion:9006dbf8-90ce-48aa-91ee-9a6b47e133dfPost:2c56cb21-3c33-4d0d-9c8b-5a7d183f36c9">Re: Ring Insurance</a>:
[QUOTE]In Response to Re: Ring Insurance : My regular homeowners doesn't cover jewelry, so if I didn't have a rider, nothing is covered. But I believe each policy is different, so I would call your renters/homeowners and ask what is covered and if a rider is needed.
Posted by melliott09[/QUOTE]

I know this is a really stupid question but what is a rider?

melliott09 · August 2010

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_just-engaged-proposals_ring-insurance-4?plckFindPostKey=Cat:Wedding%20BoardsForum:683Discussion:9006dbf8-90ce-48aa-91ee-9a6b47e133dfPost:c5aed489-8ab3-4f7d-92bc-18c77cdb046c">Re: Ring Insurance</a>:
[QUOTE]In Response to Re: Ring Insurance : I know this is a really stupid question but what is a rider?
Posted by MrMrsKaz[/QUOTE]

It's not a stupid question! An insurance rider is "additional" coverage on something that a policy does not normally cover. It is added to the original policy, and generally carries an additional fee.

Ring Insurance

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