Ring insurance?

[TammyB]

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.

[TATrisha]

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.

[~Melissa~]

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!

[LCBride2007]

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.

[KRISTEN]

Thanks so much. I had not thought of this yet. I really need to call in the morning to get myring insured. My FI says thanks too!

[YauLau]

Do you need the ring appraised of the value? Do you just walk into any jewelry store and they will get it appraise for you?

[-Kate-]

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.