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Engagment ring insurance.... Any one have this?????

V

VWhed

Senior member
I am looking for a decent company to cover my Fiance's X-mas present. (I will spare you the details and save that for a YAGT....😉 ) I just wondered if anyone had any experience with this kind of thing.

I looked at this but wasn't sure about the company (they "seem" legit)

I would put it under "homeowners", but that coverage only covers like $1000-$1500. We figured it would be better to get a separate policy.

Thanks in advance.....
 
It's almost never a good idea to buy insurance that covers one thing. You'll pay more that way than if you add it to your homeowners policy in almost every case.

Same thing for things like cancer insurance, life insurance that only covers you if you die in an accident, etc.
 
I'm in an apartment, so I have renter's insurance (about $200 a year). Adding extra coverage for my fiancee's engagement ring (covering the full appraised value) was an extra $60 a year. Check with your homeowner's or renter's insurance company to see if they offer special coverage for jewelry.
 
I agree. I would rather put it on the homeowners policy - problem is:

1)we don't live together yet, she still lives at home
2)My policy won't cover it, since she doesn't reside here
3)Her parents are in need of a MAJOR home insurance update and their policy only covers like $1000 in personal jewelry

This will only be like a "temporary"(<1 year) policy so she feels safe wearing the ring until we get a house and our own homeowner's policy
 
BTW: The quote I got from Jeweler's Mutual was $38/year and that covers mysterious dissapearance, theft, loss, and damage. If the company is legit, I feel it is a decent policy
 
Another option, if insurance is expensive... get an imitation ring she can wear and store the other in a safe(r) place. She'll know she has the real deal and can wear the safe one out places w/o worrying about it getting lost.

After she moves in w/ you you can get the insurance add-on and she can go back to wearing the real thing and you can always sell the copy w/o the stone, etc.

Well, she'll probably never go for that, and you may even get in trouble for suggesting it, but it is an option. I never said it's a good one! 😉

[edit] $38/yr -- what are you posting for? That seems damn cheap... check the fine print and what's the deductible (if any), etc and if it looks legit go for it (I say). [/edit]
 
We got ours through state farm and its right about $90/yr

Edit: fergot to mention, ~ $6500 ring.
 
Originally posted by: dman
Another option, if insurance is expensive... get an imitation ring she can wear and store the other in a safe(r) place. She'll know she has the real deal and can wear the safe one out places w/o worrying about it getting lost.

After she moves in w/ you you can get the insurance add-on and she can go back to wearing the real thing and you can always sell the copy w/o the stone, etc.

Well, she'll probably never go for that, and you may even get in trouble for suggesting it, but it is an option. I never said it's a good one! 😉

[edit] $38/yr -- what are you posting for? That seems damn cheap... check the fine print and what's the deductible (if any), etc and if it looks legit go for it (I say). [/edit]
Click to expand...


That's kinda what I am getting at.. It seems cheap. Anything else seems to be like at least twice the price (especially her parent's homeowners policy). I have seen the effects of "cheap" insurance before. Is there any way to find out if an insurance company is worth a 5hit? I have been searching, but I am obviously missing a key search term..??
edit: there is no deductible, just required inspections (annually, I think.) that would be performed by our jeweler at no cost to us.
 
Originally posted by: VWhed
3)Her parents are in need of a MAJOR home insurance update and their policy only covers like $1000 in personal jewelry
Click to expand...

That's what the standard coverage is on my fiance's homeowner's insurance, but you can add the ring to the policy and they'll cover it for the appraised value.
 
We pay a bit extra on our homeowner's with Allstate to cover my wife's rock. All we had to do is get it appraised, and they put it on.
 
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