E-Ring insurance?

[thetoolman]

Hey all.

I recently purchased a ring for my girlfriend. I heard that you can get some kind of insurance for such an item.

Is this worth doing? I have almost 3800 into the ring. Roughly what would it cost to have that insured? And where does someone go to make it happen. Also, what is involved, as in will I have to send the ring somewhere for them to look at it first, or will the grading certificate and receipts work?

Thanks
-Matt

 

[TripleG]

It depends on the company and the type of insurance you want. I went with jewlers mutual which seems to be one of the most reputable companies out there. Usually as long as you have your appraisal and certificates from where you bought the ring that should be enough to ensure it. The cost depends on how much your cost is to replace the item. JM has a policy they try and work with the place you got your ring from, so while you spent 3800 it may cost them up to 4500 for example to replace with the cost of inflation. I think a policy that covers about 8000 costs about 150$ per year to insure, so maybe a policy for 4000 would be around 80$, just guessing there. But at least that gives you a range.

You can check with your home owners insurance and see if they have a float policy for a ring to add on to. Sometimes they can be good policies, but with JM or most separate companies they will cover things such as mysterious dissapearance while you are away from home whereas home owners policy usually covers just in and around an area of your home.

So just do your homework and check in to several companies to see who offers you the best competitive price.

 

[Regular Guy]

Yes, if you don''t have a homeowner''s or renter''s policy, to which you can add a rider, check out valuable articles policy from a local State Farm rep, and then Jeweler''s Mutual, I''d say...

There''s lots and lots of threads here on insurance. You can read broadly, here, too.

 

[Lorelei]

Ditto above, here are some links for you

www.touchstoneinsurance.com

www.jewelersmutual.com

www.chubb.com