Ring insurance

[spoofskate]

Hey folks - I need to get my fiancee's engagement ring insured. But I don't have the slightest clue where to begin with this. Anyone have ideas on how I should start and what kind of questions I should ask them?

 

[ksocia]

Hey folks - I need to get my fiancee's engagement ring insured. But I don't have the slightest clue where to begin with this. Anyone have ideas on how I should start and what kind of questions I should ask them?

Many homeowners/renters insurance plans allow you to add jewelry coverage to your plan, but some (diamond rings, etc) with high values require a specific note on your plan about the exact item, it's value, etc. Your first step would be to determine the cost of the ring, if it's a new ring you just purchased from a store, you should be able to get the MSRP of the ring from the store itself. If it's a special, one of a kind or antique ring you'd need to get it appraised, which can be pricey itself ($100+?) depending on who does it. Either way you should get a certificate affirming the price/value of the ring, then you can call your insurance company and discuss how to insure it.
Good luck.

 

[spoofskate]

I've got the appraisal certificate from Cartier already, so that's all set. Problem is, I don't have an insurance company right now. When I was living alone, I didn't have anything pricy in my apt, so I never bothered with renter's insurance. But I guess the first step would be to sign up for that? And then just add the ring to that plan, I suppose. Thanks ksocia - any suggestions on good insurance companies? I'd rather pay a higher premium and go with a place like Prudential or MetLife than get a lower rate at Jack's Fly-By-Nite Insurance.

 

[ksocia]

[A]ny suggestions on good insurance companies? I'd rather pay a higher premium and go with a place like Prudential or MetLife than get a lower rate at Jack's Fly-By-Nite Insurance.

All State and Statefarm I've heard and seen good things from. I was looking into renter's insurance myself not too long ago, and it looks like it'll cost me about $150 per year, which includes $20000 of 'stuff' and an extra $10000 for computer/electronic items. An extra ring added onto the policy shouldn't be more than a couple bucks per month extra, unless you've got a J-Lo ring.