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tvt

Ring insurance?

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Well I was bad about getting insurance on my rings as well, so I actually went last week. I wanted to make sure I was covered for when we were in Mexico. It went onto our homeowners insurance. I have no idea how much more in insurance will go up because I haven't received my new bill yet.

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Your insurance shouldn't go up too much, however if you have a claim it might. Being in the rate setting field of an insurance company I can tell you that jewelry claims are very predictive of other homeowner claims, so you usually will get a surcharge on your policy. Which is fine, that's what insurance is for... but if you can get insurance through your jeweler and they are reputable, I would definately think about it.

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OK not sure but I was told you may need to update your renters insurance t notify them of the ring existing.

 

Just talked to FH about it... and he said thanks for the reminder!

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absolutely - i've always had a jewelry rider on my policy - i also a few other pieces insured, and they're itemized on my policy.

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Pay attention to the difference bw insuring for replacement value or appraisal value. FI insured my ring for replacement value because he got a good deal on the ring. That makes our insurance pmt less. Appraisal value is almost 3 times what my ring cost.

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