Engagement Ring insurance question

[ChrisAvery]

Hi

My fiance and I just got engaged and I am trying to get the ring insured.

We do not live together currently and she is about to go to Europe for 4 months travelling.

I own a house and my homeowners insurance is with AAA and I tried to get insurance with them, but the underwriters came back and said that they couldnt insure it on the home policy because my fiance''s name is not on the policy.

Have any of you been in a similar position? If so, how did you get it sorted out

Thanks
Chris

 

[baltneu]

Chris
Do a search on Insurance, we have had alot on this subject.

 

[cmcwill]

Will she still have a US address even though shes traveling? she could get renters insurance with a rider policy very quickly, just to hold you over till she gets back. she could also insure it at her parents house, it probably shouldnt be too hard to place her residence there.

Colleen

 

[beowulf33]

I agree that you will find a lot of useful stuff on insurance if you do a search on this board. I was in a similar position as you and that was one reason why I got a standalone policy that insured me before I gave it and her after she received it, without any hassle about homeowners' insurance, etc. Standalone policies are more expensive, but if you're looking for a solution to put in place until you move in together, it might be worth the extra cost for just a year or however long to avoid the hassle. Good luck.

 

[gone2seeu]

I've been in the insurance business for 10 years as an agent and depending on the value of the ring your best bet is to get a mono-line policy with Jeweler's Mutual. From an agent's point of view we would not insure just jewelery for someone that were not familiar with do to the broad coverage affored under a inland marine policy which your jewelery would be covered under. You can purchase a policy from Jeweler's mutual without having your current insurance agent doing it for you. I beleive the cost is about 7 to 10 dollars per thousand per year. Hope this helps. Chubb also writes jeweler floaters for us but I'm not sure if they will write them direct or not.