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

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JianG

Rough_Rock
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Feb 12, 2002
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2
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?
 

JianG

Rough_Rock
Joined
Feb 12, 2002
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2
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...
 

goblue

Rough_Rock
Joined
Jan 26, 2002
Messages
5
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.
 

crosado

Rough_Rock
Joined
Feb 12, 2002
Messages
34
Check out these companies
http://www.virtualcampus.gia.edu/GIAVC/insur.cfm
 

Jax172

Brilliant_Rock
Joined
Mar 11, 2002
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948
Try Chubb! I got my engagement ring insured with them and it only costs us $50.00 a year.
 

shooter812

Rough_Rock
Joined
Mar 14, 2002
Messages
2
you may want to try Jewelers Mutual Insurance Company.
URL http://www.jewelersmutual.com/

They are a very good organization.

Shooter812
 

lawmax

Brilliant_Rock
Joined
Dec 31, 1999
Messages
1,317
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".
 

ndalal

Rough_Rock
Joined
Sep 12, 2002
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1
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:
 

jlauer

Rough_Rock
Joined
Jul 29, 2002
Messages
29
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
 

Derek

Rough_Rock
Joined
Aug 7, 2002
Messages
26
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
 

jlauer

Rough_Rock
Joined
Jul 29, 2002
Messages
29
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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