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Ring Insurance Advice

Posted on 7/7/11 at 10:44 am
Posted by Day Man
Baton Rouge
Member since Aug 2009
1221 posts
Posted on 7/7/11 at 10:44 am
Can anyone advise me on engagement ring insurance? My renters policy will only cover to a certain amount. What options exist and what should I expect to pay in premium relative to appraised value.
Posted by The Hamburglar
McDonaldland
Member since Jan 2005
3303 posts
Posted on 7/7/11 at 10:46 am to
in before "don't do it"
Posted by Day Man
Baton Rouge
Member since Aug 2009
1221 posts
Posted on 7/7/11 at 10:47 am to
to late I've already "done it", now I just to to protect it.
Posted by Cold Cous Cous
Bucktown, La.
Member since Oct 2003
15112 posts
Posted on 7/7/11 at 10:52 am to
I literally cannot imagine that engagement ring insurance would be a good deal for you. I would stay away unless you had a solid reason to believe there's a significant chance she's going to lose/damage it, like if she has a history of losing jewelry before. Anyway you're already at least partially covered by the renter's insurance. Why can't you just jack up the limits on it if you're worried about the ring?

Also, congratulations!
Posted by BlackenedOut
The Big Sleazy
Member since Feb 2011
5876 posts
Posted on 7/7/11 at 11:11 am to
Shouldn't that be her responsibility? An engagement ring is basically a gift. The only way you will ever get it back as your property is if you don't get married. Once you are married it is hers. If you divorce it is hers. In short, it is her asset, make her insure it. If she loses it, that is NYP.*

*In an ideal world. In reality, she will bother you to replace it.
Posted by TigerinATL
Member since Feb 2005
62159 posts
Posted on 7/7/11 at 11:15 am to
quote:

I literally cannot imagine that engagement ring insurance would be a good deal for you.


I don't remember how much I'm paying, but I really don't think it was that much extra on my policy.

quote:

My renters policy will only cover to a certain amount.


Call your insurance company, you can get the ring listed separately on the policy so it's not underneath the $1000 - $2000 coverage you probably have for jewelry.
Posted by mtcheral
BR
Member since Oct 2008
1984 posts
Posted on 7/7/11 at 11:34 am to
If you are married and she loses it and has to pay to replace, it's still coming out of your money. You aren't married are you?
Posted by wickowick
Head of Island
Member since Dec 2006
45955 posts
Posted on 7/7/11 at 11:34 am to
Jeweler's Mutual is a solid company. We have a number of items with them, have had one claim and no issues. Zero deductible in Louisiana runs about $1 per hundred insured...
Posted by Catman88
Baton Rouge, LA
Member since Dec 2004
49125 posts
Posted on 7/7/11 at 11:39 am to
Jeweler's Mutual
Posted by TheHiddenFlask
The Welsh red light district
Member since Jul 2008
18384 posts
Posted on 7/7/11 at 11:50 am to
Sell the diamond
Replace with a CZ
Dont tell her
Profit
Posted by LSUGUMBO
Shreveport, LA
Member since Sep 2005
8875 posts
Posted on 7/7/11 at 12:44 pm to
I have my wife's ring insured for $10,000 (too much, but that's another story) and I think it runs me $100/year or so. I have no reason to believe she's going to lose it, but there are plenty of ways that you may need that coverage. I think it's well worth it for that little amount.
Posted by theOG
Member since Feb 2010
10588 posts
Posted on 7/7/11 at 1:10 pm to
quote:

Jeweler's Mutual is a solid company. We have a number of items with them, have had one claim and no issues. Zero deductible in Louisiana runs about $1 per hundred insured...


yeah, they are solid. in my mind, the $250 i pay is well worth it.
Posted by Day Man
Baton Rouge
Member since Aug 2009
1221 posts
Posted on 7/7/11 at 1:20 pm to
quote:

Shouldn't that be her responsibility? An engagement ring is basically a gift. The only way you will ever get it back as your property is if you don't get married. Once you are married it is hers. If you divorce it is hers. In short, it is her asset, make her insure it. If she loses it, that is NYP.*


This is retarded
Posted by saderade
America's City
Member since Jul 2005
25878 posts
Posted on 7/7/11 at 1:33 pm to
quote:

Shouldn't that be her responsibility? An engagement ring is basically a gift. The only way you will ever get it back as your property is if you don't get married. Once you are married it is hers. If you divorce it is hers. In short, it is her asset, make her insure it. If she loses it, that is NYP.*
My parents and her didn't like it when I brought this up. If she loses the ring, it isn't going to be my fault.
Posted by ScottieP
Baton Rouge, LA
Member since Feb 2004
1933 posts
Posted on 7/7/11 at 2:00 pm to
quote:

Shouldn't that be her responsibility? An engagement ring is basically a gift. The only way you will ever get it back as your property is if you don't get married. Once you are married it is hers. If you divorce it is hers. In short, it is her asset, make her insure it. If she loses it, that is NYP.*


So according to that logic I should drop my life insurance policy. Once I am dead the house and the bills are not my problem so frick her.

It's your money thus your investment... protect it.

BTW.. Jewelers Mutual is the way to go. Cheap and easy. Was actually cheaper than putting a rider on my homeowners.
Posted by PlazaDeBurbanko
Houston
Member since Jan 2011
634 posts
Posted on 7/7/11 at 2:03 pm to
CAlled a "Personal Article Policy" cheap as shite to be honest. Maybe $30-100 for the entire year. A lot of times you will get the ring much cheaper than what the ring will appraise. So if it is every damaged or "stolen" you can make a claim and get the appraisal value. Your welcome!
Posted by Jake85
New Orleans, LA
Member since Sep 2009
549 posts
Posted on 7/7/11 at 2:05 pm to
quote:

My parents and her didn't like it when I brought this up. If she loses the ring, it isn't going to be my fault.


quote:

My parents and her didn't like it when I brought this up. If she loses the ring, it isn't going to be my fault.


It may not be your fault, but it will definitely be your problem. I pay about $3 a month for the insurance on my wife's ring, which is tacked on to our car insurance.
Posted by Golfer
Member since Nov 2005
75052 posts
Posted on 7/7/11 at 2:21 pm to
Jewelers Mutual...wife's engagement and wedding ring is insured through them.
Posted by MStant1
Houston, TX
Member since Sep 2010
4544 posts
Posted on 7/7/11 at 3:52 pm to
I did it through my renter's insurance. I believe it's like an extra $150-$200 a year. I'm insured for about $10,200. I considered purposely "losing" it as that's more than I paid.
This post was edited on 7/7/11 at 3:52 pm
Posted by lsunurse
Member since Dec 2005
129146 posts
Posted on 7/7/11 at 6:25 pm to
quote:

Shouldn't that be her responsibility



I agree with this as well. Even though I'm not engaged yet, I already know to give my State Farm agent a call when I do get engaged and she will add ring as a separate policy to my renter's insurance.
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