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Is there any PSer who does NOT insure ering?

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zhuzhu

Ideal_Rock
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Mar 15, 2006
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My insurance renewal is coming up. I am just wondering if it is really necessary to continue insuring it, especially when the price of diamonds are dropping? Do all of you insure your rings?
 

TravelingGal

Super_Ideal_Rock
Joined
Dec 29, 2004
Messages
17,193
Date: 2/24/2009 11:32:36 PM
Author:zhuzhu
My insurance renewal is coming up. I am just wondering if it is really necessary to continue insuring it, especially when the price of diamonds are dropping? Do all of you insure your rings?
Yes, because I have piss poor luck and the day I stop insuring is the day my hand gets caught in a steam roller.
 

Fleur_de_Lis

Shiny_Rock
Joined
Jan 2, 2009
Messages
114
I couldn't even think about not insuring my jewellry. I live in a great neighborhood, behind a gate and I have a fantastic security system ... but... the piece of mind having them insured is worth more than all that combined.
 

Deelight

Ideal_Rock
Joined
Oct 4, 2007
Messages
5,543
Murphy''s law would say that the day I stop insuring is the day that something happens so yeah I keep the insurance.
 

LAJennifer

Ideal_Rock
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2,019
Date: 2/24/2009 11:32:36 PM
Author:zhuzhu
My insurance renewal is coming up. I am just wondering if it is really necessary to continue insuring it, especially when the price of diamonds are dropping? Do all of you insure your rings?
Last year, when it was time to renew my policy - I decided instead to have an exact replica made with interlaps. Cost me about $500. The real ring went in the safe and I wear the replica every day. No one has ever known the difference.
 

Kaleigh

Super_Ideal_Rock
Joined
Nov 18, 2004
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29,570
I hear you, but for me I couldn''t rest easy if it wasn''t insured. Hubby won''t cover many of my pieces because I have never lost anything. But then again, they live in a safety deposit vault, so that''s not fun either... Insurance is sooo expensive.

But for an ering, so worth it.
 

Dancing Fire

Super_Ideal_Rock
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32,396
nope, it would cost me $190 to cover every 10K worth of jewelry.
 

zhuzhu

Ideal_Rock
Joined
Mar 15, 2006
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2,503
Date: 2/25/2009 2:30:37 AM
Author: Dancing Fire
nope, it would cost me $190 to cover every 10K worth of jewelry.
I hear you. In SoCAl it is crazy expensive.
But what if something happens to your wife''s big rock?
 

FrekeChild

Super_Ideal_Rock
Joined
Dec 14, 2007
Messages
19,456
No. But my ering was cheap. We could buy another one with a couple of years insurance...
 

Dancing Fire

Super_Ideal_Rock
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Date: 2/25/2009 2:40:05 AM
Author: zhuzhu

Date: 2/25/2009 2:30:37 AM
Author: Dancing Fire
nope, it would cost me $190 to cover every 10K worth of jewelry.
I hear you. In SoCAl it is crazy expensive.
But what if something happens to your wife''s big rock?
no worry, she don''t wear it
its in a safety deposit box.

btw; i don''t even buy flood insurance for my house.
 

Rhea

Ideal_Rock
Premium
Joined
Oct 20, 2007
Messages
6,294
I didn''t have mine insured until Nov 2008 and now it''s only insured on my renter''s insurance. I asked for a certain amount of insurance for items that are carried out of the house - jewellery, laptop, camera, etc. Each seperate thing in that category can be replaced for up to £900, which is about what my e-ring cost to buy. I''ve never been too concerned about insuring it, but when we finally got around to doing renters insurance this seemed like a reasonable option.
 

bee*

Super_Ideal_Rock
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May 14, 2006
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12,170
I have always had mine insured as at this moment I''m not sure if we would put the same money towards a replacement. I feel safer having it insured.
 

Deelight

Ideal_Rock
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Date: 2/25/2009 2:40:05 AM
Author: zhuzhu
Date: 2/25/2009 2:30:37 AM

Author: Dancing Fire

nope, it would cost me $190 to cover every 10K worth of jewelry.

I hear you. In SoCAl it is crazy expensive.

But what if something happens to your wife''s big rock?

That is cheap I won''t tell you what it costs me to insure my ring a year
 

rainwood

Brilliant_Rock
Premium
Joined
Mar 29, 2005
Messages
1,484
My ring is not insured. We made a conscious decision to skip it, and I''m fine with that. I''m not worried about it being stolen, I don''t wear it sketchy places or when traveling, I don''t take my ring off when I''m away from the house, and I''m just not that concerned the diamond will get damaged in a way that''s covered by insurance.
 

violet02

Ideal_Rock
Joined
Sep 5, 2007
Messages
2,201
I have a really great deal on insurance but after reading this thread I went back and checked my policy and after seeing our annual cost I''m wondering why things are included on it like our wedding bands.

I will always insure my e-ring 100%.

Does anyone insure or not insure their wedding bands too? That includes eternity bands, not just metal ones.
 

NewEnglandLady

Ideal_Rock
Joined
Jul 27, 2007
Messages
6,299
Mine is insured, but I''m seriously considering not renewing this year for several reasons:

1. I wear my e-ring very rarely
2. I could put the money we spend on insurance towards a nice eternity band for our 5-year anniversary (or a joint gift)
3. If something were to happen to my e-ring, I''m not sure I''d ever want to replace it; my e-ring is sentimental to me and if it were gone, I don''t think i''d ever have an urge to get something else. I''d be content to wear my wedding band and that''s it, getting another ring wouldn''t be the same at all and I don''t think I''d have any reason to wear it.
 

sba771

Brilliant_Rock
Joined
Jun 1, 2008
Messages
887
Mine is currently insured, but FI wants to not renew it. I have convinced him that while we are abroad it needs to and when we buy our house hopefully it will fall under homeowners. I pointed out that my mom has my teeny diamond earrings insured so therefore it would be INSANE not to have my ring insured also- I don't think he would want to lay out that kind of money again.
 

tlh

Ideal_Rock
Joined
Dec 31, 2008
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4,511
Date: 2/25/2009 2:30:37 AM
Author: Dancing Fire
nope, it would cost me $190 to cover every 10K worth of jewelry.
That is so worth piece of mind for me. also, if just something like a prong breaks and the stone were to fall out, it would be covered, where as this would not be covered under just your normal HO/renter''s insurance policy.
 

geckodani

Ideal_Rock
Joined
Jun 25, 2008
Messages
8,896
Gah!
You just reminded me that mine has lapsed (we were moving and I forgot to renew it). It costs less than $100 a year to insure mine - so I do. Also my wedding band, and pretty much anything over $500 that I purchase. Like Bee, I don''t think we''d spend the same amount replacing it if something happened to it... so the insurance is a good thing.

DH would have a heart attack if I suggested we not insure my ering. He''s attached to the blinger he picked out.
 

asscher_girl

Brilliant_Rock
Joined
Jun 29, 2006
Messages
1,155
I insured it right away. I''d hate to use another large chunk of money to buy a replacement, I''d rather put that money into a new piece
or an upgrade


Violet
I have a few item on my policy - my entire wedding set (1 ering and 2 wbands), my hubby''s wedding band (it has diamonds) and my bezel studs from WF.
 

Italiahaircolor

Ideal_Rock
Joined
Dec 16, 2007
Messages
5,184
I could never not insure my ring. Yes, this specific ring has extreme sentimental value and could never be replaced in terms of emotional value...but, it is also an investment. My ring was as expensive as a decent car, and I would insure a car, so why not my ring?
 

CrookedRock

Brilliant_Rock
Joined
May 8, 2007
Messages
1,738
I''m with Deelight. That whole Murphy''s Law thing is the way it usually works for me.
But my FI has been nagging me about cancelling it. He thinks its pointless. He costs us just under $100 a month!! It is lot, but I want to wait to we buy a house and can put it on homeowners somehow so at least some part of it is insured.
I understand he''s not a fan insurance for anything, so I''ll probably lose this battle in the near future and have a rock I''ll be scared to wear.
 

Catmom

Super_Ideal_Rock
Premium
Joined
Apr 6, 2005
Messages
10,367
My ring is insured and will always be insured as is all of my other jewelry over a certain $$ amount. We live in a very safe area and have a great alarm system but even here there have been several home break-ins over the past year. Times are tough and criminals will target certain areas. I would rather be safe than sorry.
 

neatfreak

Super_Ideal_Rock
Joined
Feb 17, 2007
Messages
14,167
Mine is right now, but probably won''t be in the future. It cost under $5k all said and done so right now that''s a nice chunk of $ for us, but as soon as we finish school it won''t be, so we''ll probably let the insurance lapse then because we could easily afford to replace it. Now we COULD replace it if we had to, but we''d really prefer to pay the few dollars a year to insure instead!
 

CrookedRock

Brilliant_Rock
Joined
May 8, 2007
Messages
1,738
Date: 2/25/2009 9:25:47 AM
Author: KimberlyH
My rings have never been insured.
Do you mind if I ask your reasons?
 

natalina

Brilliant_Rock
Joined
Dec 9, 2008
Messages
537
All of my jewelry of any substantial worth has always been insured. ''Substantial'' to me basically means it would cost enough to replace that I might not be able to do so if something were to happen to it. I inherited a few pieces in my early 20''s, and had them in one of those little fire-proof safes (with some other things) because I never wore them. Well, at one point I lost the key to the safe, had to get a new book of checks out of it, so I broke the lock with a hammer (smart, I know). When I moved to a new city for a temporary period of time I did not want to lug this safe out there with me or have the jewelry out there where it may not be secure, so I stored it in my parents'' basement. Cut to a few years later I wanted to get something out of the safe. Mom couldn''t find it anywhere. They had moved while I was away, so she asked Dad where he put it in the new house. Dad says, "That piece of junk with the busted lock? I threw it out when we moved."
. I thought I was going to implode I was so sad.
The insurance didn''t help with the sentimental loss of the pieces left to me by my grandparents, but it was nice to be able to have the $ to replace her diamond earrings and eternity band. Oh man, just thinking about it makes me sad again...grandpa had given me a lucky silver dollar from the year I was born...never get that back...
 

MonkeyPie

Ideal_Rock
Joined
Apr 23, 2008
Messages
6,059
Date: 2/25/2009 10:12:12 AM
Author: natalina
All of my jewelry of any substantial worth has always been insured. ''Substantial'' to me basically means it would cost enough to replace that I might not be able to do so if something were to happen to it. I inherited a few pieces in my early 20''s, and had them in one of those little fire-proof safes (with some other things) because I never wore them. Well, at one point I lost the key to the safe, had to get a new book of checks out of it, so I broke the lock with a hammer (smart, I know). When I moved to a new city for a temporary period of time I did not want to lug this safe out there with me or have the jewelry out there where it may not be secure, so I stored it in my parents'' basement. Cut to a few years later I wanted to get something out of the safe. Mom couldn''t find it anywhere. They had moved while I was away, so she asked Dad where he put it in the new house. Dad says, ''That piece of junk with the busted lock? I threw it out when we moved.''
. I thought I was going to implode I was so sad.

The insurance didn''t help with the sentimental loss of the pieces left to me by my grandparents, but it was nice to be able to have the $ to replace her diamond earrings and eternity band. Oh man, just thinking about it makes me sad again...grandpa had given me a lucky silver dollar from the year I was born...never get that back...


This makes me feel awful! I am so sorry. I bet your dad feels terrible.

I have never insured my rings, because I bought them through a chain store (Jared) and had the diamond warranty with them that covers just about everything. No matter since I had to sell my diamond, but if I ever got a diamond through someplace like WF I would insure it.
 
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