Insuring your Engagement Ring

I have a renters policy with Nationwide - I am assuming my ring is also covered - is that correct?

Ditto. State Farm.

We have my ring insured through USAA and love it. My FI was in the Navy, so he has access to USAA and they are so fabulous! Very inexpensive, and for our homeowner's insurance it's like $3,000 less a year that what State Farm offered us.

 

If anyone has access to USAA, use it!

 

On a random note, my finance even bought my engagement diamond from USAA, super high quality (I know it sounds weird) but it's a hearts & arrows ideal cut and gorgeous, and they have flexible payment options as well.

 

[Ok, stepping down from my USAA speech!]

So, since I haven't done this yet.... Do I have to get my ring appraised first, or do they go by what you paid for the ring...

I have yet to do this too! I think the ring does have to be appraised first before adding it to insurance. I need to do this post haste because the ring was covered from the jeweler for only 6 weeks after purchase. (Today makes 8!)

My e-ring, and both our wedding bands are insured through our home-owner's insurance. The company we use is escaping me right now, Hanover maybe? Anyway, the insurance company had to have copies of the original appraisals on hand before they would insure it. I'm not sure what our rate is per thousand, but I think my e-ring costs like $180 a year, and our wedding bands were another $80 or so. When you consider the cost of replacing the ring it's not bad.

i'd definitely suggest adding on, or getting a seperate policy for any valueable jewelry!

Same here! Our jeweler recommended Jewelers Mutual. They are pretty reasonable and cover the entire cost of the ring if it's lost/stolen.

I had to send the appraisal in with the application. Mike got the appraisal when he bought the ring. You should ask Amos if he has it.