Insuring your Engagement Ring
Posted 05 August 2008 - 07:35 PM
So we found a new company that did. I believe it is $600 a year just for the ring insurance and then about $600 for home insurance for us. But they will write us a cheque for the total appraised value no matter what. So if I lose it, or it is stolen, or it falls off and is run over by a car, or falls off swimming in the ocean on our honeymoon...it doesn't matter. Don't take a chance!!! Make sure your policies cover your beautiful rings!!
I live in Toronto though so it is probably a lot higher here. I swear Torontonians pay more for everything.
Posted 06 August 2008 - 12:14 AM
Posted 06 August 2008 - 12:47 AM
I work for State Farm and we usually recommend people insure their engagement rings on a seperate policy (personal articles policy) and with other companies it's called a rider/floater onto their home insurance. The reason is as someone else stated that this policy will cover many more things than just having it insured under the jewelry coverage on the home insurance. The home insurance will just cover usually up to 1,000 or 2,500 and for only fire, vandalism, theft whereas the pesonal articles policy will cover if it's lost or the stone chips or you run over it or pretty much anything which is better because this isn't a piece of jewelry you store in a jewelry box, it's something you where everyday and anything can happen to it!
I don't know about jewelers mutual but I'm sure they are fine and obviously specialty...but it doesn't hurt to check with your home and auto insurer because of the discounts that may be available.
Posted 06 August 2008 - 11:19 AM
Posted 06 August 2008 - 11:25 AM
Posted 06 August 2008 - 11:27 AM
Posted 06 August 2008 - 12:11 PM
It was fairly, inexpensive, I will pay $60 annually with no deductible. The girl told me they would replace it if I lost it, it got stolen, the stone fell out or even if I threw it on the ground and ran over it with my car! I doubt that will ever happen
Posted 07 August 2008 - 10:31 AM
| Originally Posted by STACEY |
I am not familiar with Jewlers Mutual. DO you own a house, or have auto insurance?
Posted 08 August 2008 - 04:34 PM
I forgot this part...I also have a $0 deductable, which in my opinion is awesome!!
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