Insurance for E-ring

[ellie424]

My boyfriend already purchased the diamond for my E-ring. It is currently being set by Mark Morrell. We are looking to insure the ring once it is complete. How long do you typically have to insure the ring? Is there a limited number of days to insure the ring after it is purchased, or can you insure at any time? My boyfriend would like to insure the ring once he receives it and before he proposes.

Also, I''m looking into Jeweler''s Mutual and would like to get a standalone policy. On their website it looks like they only have one type of policy for personal insurance....is this true??

 

[mrscushion]

You can insure your ring at any time. I think your plan of insuring it once it''s complete is a good one.

I think Jewelers Mutual has only one kind of personal policy for jewelry -- a replacement policy. Insuring jewelry is all they do. Your premium will probably vary based on where you are located.

 

[diddy]

Date: 5/13/2009 10:15:46 PM
Author:ellie424
My boyfriend already purchased the diamond for my E-ring. It is currently being set by Mark Morrell. We are looking to insure the ring once it is complete. How long do you typically have to insure the ring? Is there a limited number of days to insure the ring after it is purchased, or can you insure at any time? My boyfriend would like to insure the ring once he receives it and before he proposes.

Also, I''m looking into Jeweler''s Mutual and would like to get a standalone policy. On their website it looks like they only have one type of policy for personal insurance....is this true??

A ton of people on here have JM or Chubb. I just wanted to chime in with my recent experience. With the help of some great PS posters (and Whiteflash) I recently bought an ACA WF princess. I got an independent appraisal (despite WF including one) for peace of mind. Both the appraisal supplied by WF and the independent one I got came within $75 of each other and a couple of thousand over what I paid.

I looked into Chubb through Touchstone but they required a $10,000 minimum to insure with the cash-out policy and I fell $500 short. My best friend just went with JM and had a great experience. I ended up going with Gemshield through Touchstone, which seems to be almost identical to the JM policy. I ended up paying $90 a year for $9500 in coverage. Touchstone basically told me that if anything ever happened to the diamond, I could just work with WF and they would assure that I received another ACA of at least same color, clarity, cut and carat. The final price seemed identical to JM. I applied for the Gemshield coverage today at noon and was offically insured by 12:30 today.... and Touchstone said they would send copies of the paperwork out ASAP (even though I asked them to hold the paperwork b/c its a surprise). Getting the replacement policy was VERY easy. I received my ring via FedEx on Tuesday and just insured it today (Wednesday). I would recommend insuring it as soon as you get it and get the paperwork required for insurance. God forbid something happen to it in the first couple of days!

Good luck!

 

[2.5rs]

My ring is scheduled to arrive tomorrow, so the past couple of days I too have been thinking about insurance options. I plan on calling my Allstate agent in the morning as I have my homeowners and auto policies through them. I will check out the JM... does anyone else have theirs covered through their "regular insurance company"?

 

[CravingDiamonds]

I have mine covered through the regular insurance homeowners policy as it would not be enough in value for most stand-along policies. Most of those I have seen have to be at least $10,000 and my is a a few thousand short of that. No one else that I know has a stand-alone policy for their ering either.

 

[ellie424]

Thanks everyone for your responses! After further investigation I think I may go with Chubb through Touchstone. I know that my ring will appraise for more than 10K and I really like the cash-out policy. Thanks again!

 

[chiquitapet]

Good choice!

 

[mrscushion]

Date: 5/14/2009 12:35:17 PM
Author: ellie424
Thanks everyone for your responses! After further investigation I think I may go with Chubb through Touchstone. I know that my ring will appraise for more than 10K and I really like the cash-out policy. Thanks again!

That''s what I did, too. Good choice.