Ring on it''s way - what next? (Appraisal? Insurance? Etc.)

[Alexicon]

My ring from James Allen should get here on Friday. WHat do I need to do when I get the ring? (Besides the obvious - ask the question! lol)

Should I get an independent appraisal? Do I need to contact my insurance company? Will I insure it separately, or under my renter''s insurance?

Thanks for the help!

 

[WorkingHardforSmallRewards]

the ct weight and clarity are somewhat important in my opinion. If its really expensive then def get it appraised and make sure nothing is amiss, if its not so expensive...maybe just identify the inclusions yourself? also, I think JA can provide you with an appraisal for insurance purposes right?

 

[somethingshiny]

I would insure the ring if you cannot reasonably afford to replace it. IF what you spent on the ring is just change to you, you could skip the insurance.

If you insure, Call your insurer and ask them what they require. Most insurance will require an appraisal (the one JA supplies should work) if the amount is over $x. You can "schedule" jewelry under renter''s or homeowner''s insurance. It''s usually priced at $y for every $z value. My insurance is $9 for every $1000 value (yearly). The other insurance option would be the basic $1500 applied to jewelry under your basic renter''s insurance. But, check with your agent on what that would REALLY cover.

Good Luck!

 

[Haven]

I was just researching how to insure my soon-to-be engagement ring, and there are two companies that do stand-alone jewelery policies, and both seem to be quite well regarded here on PS:

Jeweler''s Mutual

Chubb Insurance

I found an old link about insurance and contacted Bill Castro (www.totaldollar.com) about a Chubb policy, and he responded within a day.

Congrats!