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I bought a very steep ring and need insurance for it, any ideas?

Discussion in 'RockyTalky' started by JianG, Feb 12, 2002.

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  1. JianG
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    by JianG » Feb 12, 2002
    I need help. I live outside of the country and very much need insurance on the ring, and only the ring. As I live outside the US, I don't have renters, auto, or home insurance. I've already given my fiancé the ring and am eager to insure it. The one price I've found, with one company was $17/$1K, which sounds expensive.

    Does anyone have any ideas? Companies in the NorthEast?
     
    


    


  2. Garry H (Cut Nut)
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    by Garry H (Cut Nut) » Feb 12, 2002
    That is about half the cost of ins in Australia
     
  3. JianG
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    by JianG » Feb 13, 2002
    Even still, it'll run about $300/year for this. More than some motorcycle insurances I've had in the past. But if it's the only option...
     
  4. goblue
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    by goblue » Feb 13, 2002
    I have the same issue, I recently called State Farm Insurance. They allow you determine your own level of coverage and deductible. I was quoted $130 for $15k of coverage with a $1k deductible. However, I'm not sure of their status outside the U.S.
     
    


    


  5. crosado
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    by crosado » Feb 13, 2002
    Check out these companies
    http://www.virtualcampus.gia.edu/GIAVC/insur.cfm
     
  6. pricescope
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  7. Jax172
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    by Jax172 » Mar 12, 2002
    Try Chubb! I got my engagement ring insured with them and it only costs us $50.00 a year.
     
  8. shooter812
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    by shooter812 » Mar 19, 2002
    you may want to try Jewelers Mutual Insurance Company.
    URL http://www.jewelersmutual.com/

    They are a very good organization.

    Shooter812
     
  9. lawmax
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    by lawmax » Mar 19, 2002
    Jeweler's Mutual is good, but they won't give you cash back. They will only send you back to the jeweler who sold you your diamond/ring to have that jeweler replace your item at the cost to jeweler's mutual. Don't over-insure the item. If you bought a branded stone, be sure that it will be replaced with the same brand if that is important to you and not just something "similar".
     
  10. ndalal
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    by ndalal » Sep 12, 2002
    Hello,
    I just called an insurance agent in regards to getting my engagement ring insured by Chubb. The representative told me that the minimum premium per year is $500. I don't know if the representative was mistaken or she didn't want to insure the ring. I am very new to getting insurance and would love any advice you could give me.

    Thanks:wink2:
     
    


    


  11. jlauer
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    by jlauer » Sep 12, 2002
    Either that person was clueless or they were trying to sell you more than just and insurance policy for the ring.

    I have ran into many people who say, " you need to get a homeowners policy if you only want insurance on a ring."

    I just yesterday got my insurance. I went through a Chubb agent. But i called 3 differnet ones to get 3 diffent quotes to see if was being had. Most hovered around 185 a year give or take a few bucks for $14,585 of coverage.

    I went with the guy i felt most comfortable with for 184 a year.

    Now, the price will very state to state, but that give you an idea of what to expect.

    Good luck and let me know how it goes...

    You can find agents in your area here...

    http://www.chubb.com/personal/find_an_agent.jsp
     
  12. Derek
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    by Derek » Sep 12, 2002
    I also just put in a call to my State Farm agent. You have to have another policy of some type to get it but her recommendation is a Personal Articles policy. Cost is about $93/year for a $10,000 ring/diamond with $0 (yes zero) deductible. An appraisal of the 4 Cs and the value is required. Taking that cue then it is best to have the ring (more specifically the diamond) appraised at a higher value than purchase price to ensure that you will be able to replace the diamond with one of equal quality (for us Cut Quality Crusaders).
    -D
     
  13. jlauer
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    by jlauer » Sep 12, 2002
    That is what i did.

    My appraisal price was a bit higher than the purchase price.

    I have a zero deductible and CASH settlement from Chubb, no other insurance is needed.
     
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