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11-03-2009 at 12:59 PM
Shleigh02
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Shleigh02 is not online. Last active: 02-11-2010, 6:07 PMNewbie

ring insurance

Does anyone have good ring insurance? I'm looking to insure my and DH's rings. We currently do not have renter's insurance, but I could consider bying some and adding the rings on as a rider. However, I would prefer to have a rings-only seperate insurance policy. I've read a few, and it sounds like I could just pay myself in a savings account the same amount, because if something does happen, at least I know I get my money back instead of insurance companies weaseling out of paying for it. The way the sample policies are written, they won't pay much (25% of the value of a lost ring? please! What kind of replacement is that going to buy?!), but I have societal pressure to insure them. What are you doing?
 
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11-03-2009 at 1:02 PM
6fsn
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DH's ring isn't worth insuring.  I have a rider on our homeowner's insurance.

You didn't ask, but you really should have renter's insurance regardless of what you decide on the rings.

ETA: It's not a rider, it's a separate personal articles policy through the same company.
 
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11-03-2009 at 1:02 PM
Ashley&Sco...
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Ashley&Scott is not online. Last active: 03-20-2010, 11:44 PMGold

We have Jeweler's Mutual. They will pay for a full replacement (up to value of ring insured) at the jewelry store of your choice. Our premium is approx. 1% of the value of our pieces. We have my ering, both of our wedding bands & my diamond earrings on the policy.

 

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11-03-2009 at 1:02 PM
Sabrina121
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Our's is just under out home insurance...sorry.

 
 
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11-03-2009 at 1:03 PM
brideymcbr...
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brideymcbriderson is not online. Last active: 02-18-2010, 6:03 PMGold

Shleigh02:
We currently do not have renter's insurance, but I could consider bying some and adding the rings on as a rider.

BUY RENTER'S INSURANCE TODAY.  My husband's apartment burned down a few years ago, and if he hadn't had renter's insurance, he wouldn't have been able to replace things like his couch and computer.  Renter's insurance is SO cheap; there is no reason not to have it.

If your ring is not that expensive, you may be able to add a rider for next to nothing with no appraisal.  Mine paid 100% to have a side stone replaced after it fell out.  If any single piece of valuable property is over a threshhold amount (edit: for my policy, it's $2500), then you may have to get it appraised and buy separate coverage).  I have a total of $5000 of valuable property coverage for $3/month.
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11-03-2009 at 1:03 PM
yeah4me
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I have Jewelers Mutual.  I've never had to use it, but that's who my jeweler recommended.  My policy would cover the retail replacement value of my engagement ring and is about $100/year...
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11-03-2009 at 1:03 PM
SwizzleSti...
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I'm going to insure mine via USAA.

If you decide to just put the money in a savings account, as opposed to an insurance plan, what happens if you lose/break the ring in a month? You wouldn't have enough saved. That doesn't sound like a very smart plan.

I'd look around for a plan with a higher deductible (will be cheaper each month) and total coverage, then if you DID need to use it (next week or in 10 years), it'd cover the cost 100%
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11-03-2009 at 1:05 PM
kpow
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Get renter's insurance. It's so cheap.

My e-ring is insured under our homeowner's policy. DH's ring and my wedding band aren't worth insuring.


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11-03-2009 at 1:05 PM
flip_flops
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My ring is covered under Valuable Personal Property insurance through USAA.  I believe this is attached to our renter's insurance through them.
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11-03-2009 at 1:07 PM
seaspray58...
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You should be carrying renters' insurance.  It's not expensive, and can be a lifesaver.  We had a jewelry rider on ours when we were renting; now we have a rider on our homeowners' policy for it.  Opt for replacement cost coverage for jewelry.
 
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11-03-2009 at 1:07 PM
Bednarova
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Um. If you have a personal articles policy that is for full replacement value, the ins. company will reimburse you for the full amt the ring is appraised for (at the time you insure the ring).  DH lost his wedding ring on our honeymoon. (9 months after the wedding).  State Farm replaced it for us.

 

 

 

and Hmm that you don't have renters insurance. 



 
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11-03-2009 at 1:35 PM
SecretServ...
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brideymcbriderson:

Shleigh02:
We currently do not have renter's insurance, but I could consider bying some and adding the rings on as a rider.

BUY RENTER'S INSURANCE TODAY.  My husband's apartment burned down a few years ago, and if he hadn't had renter's insurance, he wouldn't have been able to replace things like his couch and computer.  Renter's insurance is SO cheap; there is no reason not to have it.

PLEASE GET RENTERS INSURANCE.  One time DH and I moved into a new house and were in the process of getting renters and a week later our house almost burned down because DH left a candle lit and it smoldered and filled the house with smoke while we were gone.  $10,000 later, Serv-Pro came and our house was clean. 


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11-03-2009 at 2:19 PM
Dr.Loretta
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What do you mean by "societal pressure"? We insured my ring because it was expensive, and insured DH's ring because he was having nightmares of losing and having to pay through the nose to replace it.

We have a rider on our HOI through USAA. I'm sure they have a separate personal articles insurance policy.


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11-03-2009 at 2:23 PM
CatGal
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SecretServiceWife:
brideymcbriderson:

Shleigh02:
We currently do not have renter's insurance, but I could consider bying some and adding the rings on as a rider.

BUY RENTER'S INSURANCE TODAY.  My husband's apartment burned down a few years ago, and if he hadn't had renter's insurance, he wouldn't have been able to replace things like his couch and computer.  Renter's insurance is SO cheap; there is no reason not to have it.

PLEASE GET RENTERS INSURANCE.  One time DH and I moved into a new house and were in the process of getting renters and a week later our house almost burned down because DH left a candle lit and it smoldered and filled the house with smoke while we were gone.  $10,000 later, Serv-Pro came and our house was clean. 

 GET RENTER'S INSURANCE! I know it's a hassle, but so worth it!

I have my rings insured with IJB/Gemshield.  The premium is 5% or less of the ring value.  At first I had my rings as a separate item on my renter's.  When I lost it, and the ins. replaced it (brand new replacement - not a copy) they kicked my off.  So....my jeweler recommended IJB/Gemshield, the same insurance that he uses for his store. It's great - I haven't had an issue with them and they're so easy to work with!

 
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11-03-2009 at 2:24 PM
ictoana
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Renter's insurance is cheap, and you should have it. 

Get renter's and add the rings. 



 
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11-03-2009 at 9:06 PM
Ms_Matched
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Mine is insured with the same company I have my car through. I had to schedule it separately.
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