Insurance On my Ring

[MsSkiBunny]

Can anyone give me an idea of how much insurance I can expect to pay on my ring? My fiance and I aren''t homeowners yet, we''re still renting so I know it will be higher because of that. I have no idea about this kind of stuff. Thank you so much.!

 

[Rank Amateur]

Welcome to Pricescope!

Something like $10 per year per $1000 of insurance gives you the general idea.

Actual rates may vary!

 

[pauls girl]

Hi, there

I have a personal article policy thru Chubb and pay $345.00 annually for $17,250.00 worth of coverage.

I think it can depend on where you live as to the rates you get. I live in the Bay Area, so it may be more here than in other places.

-PG

 

[sldeer]

I also live in the San Francisco Bay Area and planning to get engaged very soon(wish me luck

) Anyways, wanted to know if anyone could recommend an agent for Chubb that you've had a good experience with in this area. Thanks!!!

 

[dancingmelimel]

Just yesterday I was quoted $32 per $1000 by a chubb agent in my area. (I'm in LA.) Is this too much? Should I keep looking?

 

[JC]

I pay $80 per year on a $7,750 appraisal value. I'm also not a homeowner.

 

[Jennifer5973]

I live in the Northeast and pay about $10 per $1,000 of jewelry covered as a rider to my homeowners.

 

[newenglandgemlab]

Hi,

Try Jewelers Mutual for a comparison. Cindy

 

[manechka]

You can get your ring insured through renter's policy.

 

[dancingmelimel]

Just looked into Jewelers Mutual, and their quote was substantially cheaper...$20 per $1000, but their policy is for "replacement of like kind and quality", rather than dollar amount. They do say you get to replace it through your "prefered jeweler" though. How concerned should I be about that difference?

 

[newenglandgemlab]

Hi,

I wouldn't be at all concerned if that is what you would do in case of loss or theft. If you have all the documentation of what you own then you will have no problem finding a diamond you would be happy with. Chubb will write you a check but you are paying for that. Make sure you aren't dealing with an inflated appraisal and pay premiums on what it would realistically cost to replace the item. If you make a purchase and it comes with a freebie appraisal that is substantially higher than the purchase price then I would suggest getting an independent appraisal.

Cindy