Need Advice on Insurance

[esguy27]

Now that I''ve bought an engagement ring and had it appraised, I need to take the next step and get insurance for it soon.

I''ve heard of a few options but I''m not sure which coverage is best, can anybody educate me here?

I have renters insurance and I''ve heard of Chubb and Jewelers Mutual Insurance Co.

Who insures your ring? What is the typical yearly cost?

 

[jaz464]

State Farm will be insuring my ring and the yearly cost is $333. That is for only the diamond, insured for $29,700. (I''m not insuring the setting). Price of your ring and where you live will greatly change what you are quoted. Lots of people like Chubb b/c they have a cash pay-out policy. I do believe that you pay alot more for that type of option though.

 

[AlyceC]

I also have a rider on my State Farm homeowner''s insurance. I have three distinct pieces of jewelry insured under the policy that runs about $9 per $1000 of insurance per year. Where you live does make a huge difference. I am able to save some money by having a $1000 deductible. I don''t know the specifics of the policy, but my boyfriend''s mother has policy through USAA that is for a blanket amount of jewelery, not specific items. If you are eligible for USAA and have other pieces of jewelry that you''d like to have covered, it may be worth looking into. Chubb does have great terms and service, but you do pay for it. It''s all about how risk averse you are. I''m risk averse, but I''m also cheap!

 

[tareyton]

I have Chubb in MD Baltimore Suburbs.

19K $220 per year.