Insure a newly purchased engagement ring

[sodabrab]

So I purchased an engagement ring and I already have the apprasial. What do I do now??? (I already asked her and she said yes, so that part is taken care of ) I am renting right now from a friend so I don't have homeowners or renters insurance. Any recommendations on how to insure this ring? I was given a pamphlet on Jewelers Mutual. Anyone dealt with them or have other suggestions? Thanks.

 

[D&T]

people here have had good experience with Jewelers Mutual. I have gemshield, and have not had to make a claim, so I cannot comment about that part. I definitely recommend going with a jewelry insurance vs a rider on home as it protects you more in case of loss/ theft or damages to your ring, outside of the home

 

[yssie]

I use JM - have never had to make a claim though. Rates are reasonable, they vary depending on where you live. They won't cut you a check but they'll let you work with a vendor of your choice (including online) to replace, and they'll pay the vendor directly (so you won't need to cough up the 10k or whatever and then wait for reimbursement). Require an appraisal dated w/in 18months, which shouldn't be a problem for you, and they don't have any upkeep requirements - reappraise every x months, etc.

From what I understood when I called them and had a long convo about this, maybe a JM rep will see this post and elaborate, to replace they consider only your report (GIA/AGS/...) and your appraisal, so any other pics/info you send in your report isn't of any real value unless they're part of the appraisal itself - which is important because most of those "verifications" that most vendors ship out w/ new rings are woefully inadequate in terms of fully describing the things that matter to many PSers: all those nice near-hearts pics, the ISs and ASETs, the helium from GOG, the exact details of the setting beyond "18k white gold solitaire".. Though obviously if you buy a branded stone and a branded setting and that is listed on the appraisal paper then you are entitled to replace as such, so if you bought from a reputable brand you have some security on that front.

 

[Sheherizaad]

I just purchased my policy from Jewelers Mutual and I'm pretty happy thus far. Application process was as smooth as can be and every time I called I spoke to a real human being within a minute. So far so good!