I do not rent or own a home.
Where is the best place to get insurance for a diamond ring? Is there any place with a deal better than Jewelers Mutual? (.00 per year for ever 00 for most places, but .50 for every 00 in a big city)
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{ 6 comments… read them below or add one }
WOW what your describing seems pretty cheap. I’m not sure I’d trust them. But then again, I’ve never heard of them either. And I don’t know of any other places to insure it b/c mind is on our renter’s policy and we pay about $14 a month…because of the appraised value of my ring..which was quite high.
My ring is insured through the jeweler that we purchased it. My ring remains covered as long as I have it inspected every 6 mos. You should ask your jeweler if they offer that as an option.
Call an independent insurance agent to see if you can get a separate jewelry policy.
If you live with your parents then your ring should appear as a scheduled item on their policy.
Whatever you do…make sure you have this as a scheduled item. Most policies will only cover jewelry for theft up to $1000 dollars so if you lose it you are out of luck.
Talk to an agent regarding specific concerns…it’s their job.
Do you have auto insurance? Sometimes major companies such as American family, Farmers, State Farm etc offer other types. I’ve gone with State Farm and we pay about $35 a year for $3,000 worth of coverage.
Jewelers Mutual has been around a long time, and the prices are fair. Be aware that these days, claims made on your homeowners insurance can actually cause the insurance company to cancel your policy! Unbelievable, but my Mom knows of 2 people that happened to. Also, Jeweler’s Mutual insures for damage, which your homeowners/rental policy does not. For instance, I had to have a ring cut off my finger in an emergency. While they don’t insure antiques (which it was), they would have covered a newer and insured ring. Also, unlike homeowners/rental, there is no deductible.
Also, I think you misread it. The cheapest is $1 per $100 value, not $1000. My $3,500 ring is insured for $35/year.
We had my ring insured though "Statefarm" the ring was 3800 and the insurence is 38.00 a year.