Ring Insurance

mrsk616 · February 2015

I want to get my ring insured (i know i know a year and a half later) but want to know how everyone else has gone about this. what are somethings i need to do and need to get it insured. and what some of you are paying for it.

Thank you in advance.

Maggie0829 · February 2015

I added my ring to my homeowners insurance. All I needed was an appraisal of the ring. I provided that information to my insurance company and they added it. Not really sure how much it increased my monthly homeowner insurance though, but it was very minimal.

thisismynickname2 · February 2015

My husband added it to his homeowner's insurance as soon as he bought it (we didn't live together at the time).

Now that he lives in what's technically my home, I think he just has a separate policy on the ring itself.

I also just found out he pays either $70 per year or $70 every six months, which I thought was a lot either way. I don't know the real value of my ring, but he said the insurance tends to go up because jewelry goes up in value (replacement value, not like pawn shop resale value).

Was this something your FI was willing to do?

ohmrs2014 · February 2015

I had to get an appraisal and then I went to Perfect Circle to get a policy.

novella1186 · February 2015

We took my ring to a local jeweler to have an insurance appraisal done (specifically this type of appraisal, cuz there are other types and the amount may differ). We sent a copy to our insurance guy and he added it on to our renters insurance. It increased a very small amount per month, but it's even covered if I'm on vacation and just lose it or something.

flutteringinfl · February 2015

I was going to add mine as a rider on my renter's insurance but it turned out to be less expensive to insure it through Perfect Circle. They seemed to have good reviews. I also had to take my ring to a jeweler to get it appraised for insurance purposes, since it was bought online and didn't have a certificate of authenticity or anything.

mrsk616 · February 2015

thisismynickname said:

My husband added it to his homeowner's insurance as soon as he bought it (we didn't live together at the time).
Now that he lives in what's technically my home, I think he just has a separate policy on the ring itself.
I also just found out he pays either $70 per year or $70 every six months, which I thought was a lot either way. I don't know the real value of my ring, but he said the insurance tends to go up because jewelry goes up in value (replacement value, not like pawn shop resale value).

Was this something your FI was willing to do?

he just decided to get renters insurance on the house thats in his name. id like to have the insurance so if something happens its covered but he says its all on me to anything since he bought the ring (he can be such a pain in the butt). i mentioned it to him but i really dont think he understands how it works. i just texted him about it. i dont think it will float this time. ARGH MEN

vulpiepop · February 2015

Another one for Perfect Circle. We're planning to add our wedding bands to our Perfect Circle insurance too because it's so cheap and comprehensive. The wedding bands are currently under Kay's Jeweler's insurance which really only covers damages and lost diamonds...It's better than nothing but I'd rather they be covered if they get stolen or lost too.

mrsk616 · February 2015

flutteringinfl said:

I was going to add mine as a rider on my renter's insurance but it turned out to be less expensive to insure it through Perfect Circle. They seemed to have good reviews. I also had to take my ring to a jeweler to get it appraised for insurance purposes, since it was bought online and didn't have a certificate of authenticity or anything.

ill have to do that because i dont think he got anything because he bought it online.

mikenberger · February 2015

My FI added mine to our homeowner's insurance. It's covered under any type of loss. And I think it costs like $6 a month for that. But the peace of mind that my ring is covered is priceless. I'd fairly good with jewelry though. It's rare that I lose something. *knock on wood*

flutteringinfl · February 2015

mrsk616 said:

flutteringinfl said:

I was going to add mine as a rider on my renter's insurance but it turned out to be less expensive to insure it through Perfect Circle. They seemed to have good reviews. I also had to take my ring to a jeweler to get it appraised for insurance purposes, since it was bought online and didn't have a certificate of authenticity or anything.

ill have to do that because i dont think he got anything because he bought it online.

It's not too bad. I put it off for months and just a couple weeks ago when I was at the mall for a hair appointment I found a jeweler that does appraisals (not all of them do, especially mall jewelers) and left it with them and picked it up after my hair appointment. Some places may want you to leave it overnight though. He didn't charge me anything but I don't know if that's standard.

mikenberger · February 2015

mrsk616 said:

thisismynickname said:

My husband added it to his homeowner's insurance as soon as he bought it (we didn't live together at the time).
Now that he lives in what's technically my home, I think he just has a separate policy on the ring itself.
I also just found out he pays either $70 per year or $70 every six months, which I thought was a lot either way. I don't know the real value of my ring, but he said the insurance tends to go up because jewelry goes up in value (replacement value, not like pawn shop resale value).

Was this something your FI was willing to do?

he just decided to get renters insurance on the house thats in his name. id like to have the insurance so if something happens its covered but he says its all on me to anything since he bought the ring (he can be such a pain in the butt). i mentioned it to him but i really dont think he understands how it works. i just texted him about it. i dont think it will float this time. ARGH MEN

So he doesn't want to insure his purchase? Intelligent. What if you get mugged and they take your ring? Is that your fault?

I understand the carelessness of just losing a ring, but sometimes, things are out of our control. And a lot of times, it's just an accident. That's why insurance was created.

charcoalandblush · February 2015

I don't know the brand/company but we got my ring insured through the company suggested by the jeweler that he bought it from. I think it's $5 a month, which to me seemed totally reasonable. It covers literally anything (dropping it down the drain, losing it in the ocean on vacation, the center stone falling out and getting lost, etc.) and doesn't have a deductible.

mrsk616 · February 2015

mikenberger said:

mrsk616 said:

thisismynickname said:

My husband added it to his homeowner's insurance as soon as he bought it (we didn't live together at the time).
Now that he lives in what's technically my home, I think he just has a separate policy on the ring itself.
I also just found out he pays either $70 per year or $70 every six months, which I thought was a lot either way. I don't know the real value of my ring, but he said the insurance tends to go up because jewelry goes up in value (replacement value, not like pawn shop resale value).

Was this something your FI was willing to do?

he just decided to get renters insurance on the house thats in his name. id like to have the insurance so if something happens its covered but he says its all on me to anything since he bought the ring (he can be such a pain in the butt). i mentioned it to him but i really dont think he understands how it works. i just texted him about it. i dont think it will float this time. ARGH MEN

So he doesn't want to insure his purchase? Intelligent. What if you get mugged and they take your ring? Is that your fault?

I understand the carelessness of just losing a ring, but sometimes, things are out of our control. And a lot of times, it's just an accident. That's why insurance was created.

stuck in box again

i just talked to him and he's ok with it, now. luckily his friend was the one to talk him into the style ring he bought and he's going to see if he can appraise it or send us somewhere to do so. he was ok with it when i said how cheap some are.

luckya23 · February 2015

I added mine to my homeowner's insurance - I think it was about $70... but it was part way through my year. So probably more like $100/year. Now my mortgage company will be paying it through my escrow.

I've heard good things about perfect circle too, though.

Oh, the appraisal was about $150, even though it was at the same jeweler my setting came from. Grr.

Do you have renter's insurance, OP? I finally after 10 years convinced my BFF to sign up yesterday since a boiler exploded in her apt building the night before. There's really no reason not to have it.

Jells2dot0 · February 2015

We have a separate personal articles policy- so outside of homeowner's policy- with our insurance company. We just used the same company that covers our homes, cars, etc. I think the way we did it was more expensive, but getting it well insured was top priority. We pay around $500/year for that separate policy.

mrsk616 · February 2015

luckya23 said:

I added mine to my homeowner's insurance - I think it was about $70... but it was part way through my year. So probably more like $100/year. Now my mortgage company will be paying it through my escrow.
I've heard good things about perfect circle too, though.
Oh, the appraisal was about $150, even though it was at the same jeweler my setting came from. Grr.
Do you have renter's insurance, OP? I finally after 10 years convinced my BFF to sign up yesterday since a boiler exploded in her apt building the night before. There's really no reason not to have it.

he finally did after years of having the house (his moms name is on the mortgage because of some legal issues). we have yet to move in but have a lot of stuff at the house that is costly (washer and dryer furniture we have bought) and we had water in basement . turns out there is a sewer line that broke so we kept coming over to water in basement not ground water either. idk why he waited this long to do this because it should have been done years ago..... men they are just so annoying at times.

climbingsingle · February 2015

I got it appraised and insured it with State Farm, who I already used for homeowner's and auto. I have a separate policy for the ring. It's pretty cheap for a year, and I get a multiple policy discount.

badbnagdway · February 2015

All you really need is an appraisal to get it insured.

My ring was hand made by a jeweler who is certified to do appraisals so it came with an appraisal. We bought our house within about a month of getting engaged and put the ring on the homeowner's policy. There are also insurance companies that specialize in jewelry. How much the policy costs depends on the apraised value of the ring. You also want to carefully check what is covered. I think FI said our policy for my ring is about $300 per year but that covers any conceivable thing happening to it.

I definitely recommend getting it insured as soon as possible. I have a friend who waited more than 6 months to get hers appraised to get it insured, and when she brought it in, the center diamond was loose! (Don't get me started on the terrible jeweler they went to). It's a good thing it hadn't fallen out on her in the meantime because she would have been SOL.

AprilH81 · February 2015

Mine is a personal articles policy for about $70-75 a year. It covers everything EXCEPT intentional destruction. If I lose it snorkeling in the Caribbean it is covered. If I get angry at DH and throw it into the ocean it is not.

Be careful adding riders to your renter/homeowner policy. Sometimes the rider has a value limit so if your ring is more expensive it wouldn't cover the full value. Every policy is different, just do your homework.

labro · February 2015

I added it as a separate valuable property policy attached to our homeowners insurance. The ring's value was high enough that they advised getting a separate line item just for the ring with a description of the band and the stone. Then I uploaded the GIA cerficiate it came with and the official appraisal. I think it costs us something like an extra $10 every month to have it (but we also added on to the policy for our other jewelry and valuables).

plainjane0415 · February 2015

FI has a seperate policy for my ring now, because it's offered thru his insurance company, and offered more protection than adding to a renters policy or a homeowners policy. That was one of the first things he did after purchasing the ring. I can't imagine your FI just wanting to brush off something like this! I'm glad he came to his senses about it!

atlastmrsg · February 2015

I was renting when I received mine, so I didn't have a homeowners policy to add it to. I used Perfect Circle. I pay about $140/year for a ring that's about 2 ct. I can't remember what the deductible is, maybe $250? Anyway, it's been really easy with Perfect Circle. Did everything online, PDFed the appraisal, and had coverage in a day or two.

Couggal12 · February 2015

When DH bought the ring he used a private company to insurance it. The jewelry store he bought it from suggested it. I can't remember how much it is a month but, it's very reasonable. We plan on adding it to our homeowner's policy when we buy a house.

KatWAG · February 2015

Jells2dot0 said:

We have a separate personal articles policy- so outside of homeowner's policy- with our insurance company. We just used the same company that covers our homes, cars, etc. I think the way we did it was more expensive, but getting it well insured was top priority. We pay around $500/year for that separate policy.

-----

This is what we have as well.

We chose a personal article's policy because it will replace any piece of jewelry, basically no questions asked.

The cost for insuring your ring will vary widing on the type of policy and how much it would cost to replace your ring.

KatWAG · February 2015

mrsk616 said:

luckya23 said:

I added mine to my homeowner's insurance - I think it was about $70... but it was part way through my year. So probably more like $100/year. Now my mortgage company will be paying it through my escrow.

I've heard good things about perfect circle too, though.

Oh, the appraisal was about $150, even though it was at the same jeweler my setting came from. Grr.

Do you have renter's insurance, OP? I finally after 10 years convinced my BFF to sign up yesterday since a boiler exploded in her apt building the night before. There's really no reason not to have it.
he finally did after years of having the house (his moms name is on the mortgage because of some legal issues). we have yet to move in but have a lot of stuff at the house that is costly (washer and dryer furniture we have bought) and we had water in basement . turns out there is a sewer line that broke so we kept coming over to water in basement not ground water either. idk why he waited this long to do this because it should have been done years ago..... men they are just so annoying at times.

Stop saying this. Its not all men, its your Fi who is acting irresponsibly

Let's step away from the gender stereotypes

aliwis000 · February 2015

I used Perfect Circle. They have an easy to use site that can give you an estimate without you having to give any personal information. You just provide the cost of the ring and deductible amount you want to have.

I used the estimator tool to calculate my cost and when I actually applied the cost was spot on what the tool said it would be.

The cost of the insurance will depend on the value of the ring. Now, I was given two options on how to provide the value. 1. Copy of the actual invoice for the ring. 2. The appraisal sheet with the value. Let me say...these 2 numbers are miles a part. I think it ended up being about $300 with a $1000 deductible.

I know many people just add it to homeowners or renters but I wanted a individual policy just in case. I will be adding my wedding band to it when I buy that as well.

huskypuppy14 · February 2015

KatWAG said:

mrsk616 said:

luckya23 said:

I added mine to my homeowner's insurance - I think it was about $70... but it was part way through my year. So probably more like $100/year. Now my mortgage company will be paying it through my escrow.

I've heard good things about perfect circle too, though.

Oh, the appraisal was about $150, even though it was at the same jeweler my setting came from. Grr.

Do you have renter's insurance, OP? I finally after 10 years convinced my BFF to sign up yesterday since a boiler exploded in her apt building the night before. There's really no reason not to have it.
he finally did after years of having the house (his moms name is on the mortgage because of some legal issues). we have yet to move in but have a lot of stuff at the house that is costly (washer and dryer furniture we have bought) and we had water in basement . turns out there is a sewer line that broke so we kept coming over to water in basement not ground water either. idk why he waited this long to do this because it should have been done years ago..... men they are just so annoying at times.

Stop saying this. Its not all men, its your Fi who is acting irresponsibly

Let's step away from the gender stereotypes

Thank you!

My husband waited to propose until the ring was insured. Just because your FI is annoying about it, doesn't mean all men are.

[Deleted User] · February 2015

Our renter's policy wouldn't cover the ring outside of it being lost or damaged in our home, so we went with Perfect Circle insurance.

All you typically need is an appraisal of the ring.

madamerwin · February 2015

I had originally planned to get a policy through Perfect Circle, but then I found out that our renters insurance (through Progressive) had an equally comprehensive policy - the ring is covered under pretty much all circumstances, including "mysterious disappearance," meaning I could lose it somewhere and it's still covered.

The rate you pay will depend on the value of the ring, but usually it's around $10-$16 annually per $1,000 of appraised value. (I work for a jewelry company, talked to our onsite insurance guy about it and he said that's the standard range.)

mrsk616 · February 2015

tfmrserwin said:

I had originally planned to get a policy through Perfect Circle, but then I found out that our renters insurance (through Progressive) had an equally comprehensive policy - the ring is covered under pretty much all circumstances, including "mysterious disappearance," meaning I could lose it somewhere and it's still covered.

The rate you pay will depend on the value of the ring, but usually it's around $10-$16 annually per $1,000 of appraised value. (I work for a jewelry company, talked to our onsite insurance guy about it and he said that's the standard range.)

that was FI major concern was if it would cover anything that would happen to the ring.

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