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Drop insurance on engagement ring? - Page 3

post #41 of 48
Quote:
Originally Posted by mom0810 View Post
This sounds similar to what I have. DH knows more about it than I do. But my jewelry is all covered, and we certainly don't pay $100 a month or a year! So that's all I care about.
yeah, this thread got me so curious that i checked our policy. looks like we have a personal property endorsement which is the just the rider for our rings. we pay roughly $45 per year for that and in looking at the replacement value, i think we should get our rings reappraised as the cost of platinum has skyrocketed since we got married. we also have a regular personal property section that covers everything else we own that's part of our regular policy.

so now i need to schedule to have our rings reappraised as i think their replacement value will double......which means that it would take several more lifetimes to pay to replace my rings. ugh. anyone know how much it cost to have jewelry appraised?? do i just take them to the jeweler to do this?
post #42 of 48
Quote:
Originally Posted by Belleweather View Post
Does your rider cover just your ring or things that are beyond your homeowner's policy in general? I ask because we've got some semi-valuable art and musical instruments that we should probably rider when we renew our policy, but if it's going to be $100 for the ring + $100 for the art + $100 for the instruments, that gets crazy fast! Especially if it's $100 for each article, you know?
We have separate item riders...there's one for jewelry, one for electronics, one for art (state farm), and the policies total less than $100 a year...not $100 each.
post #43 of 48
Quote:
Originally Posted by gothnurse3 View Post

Funny how that ring SEEMED SO important back then...I wear the plain band proudly.

:

My ring was insured but when I got a bigger stone to replaced it I keep forgetting to get it appraised and insured. It has been 3yrs but I think that I may have to get it insured as it would set us back quite a bit to get something comparable. Also the stone was my mother's and I want to be able to pass it on to dd oneday.
post #44 of 48
Quote:
Originally Posted by mom0810 View Post
Isn't your ring covered as part of your homeowner's policy? Or renter's? Or is that what you are talking about?

My ring was over $8000.00 and I have no insurance on it. I assumed it was protected by our homeowner's ins. That's what my mom told me when I got married. But that was over ten years ago...don't know if it's different now?

I would drop the extra ins. for sure.

We have to have a rider, because our renter's insurance only covers jewelry up to a max of $1k per piece, so any individual piece worth more than $1k has to have its own rider. We also have an extra electronics rider, because our renter's insurance only covers electronics up to $1500 total, and we have far more than $1500 worth of electronics!
post #45 of 48
Quote:
Originally Posted by vm9799 View Post
yeah, this thread got me so curious that i checked our policy. looks like we have a personal property endorsement which is the just the rider for our rings. we pay roughly $45 per year for that and in looking at the replacement value, i think we should get our rings reappraised as the cost of platinum has skyrocketed since we got married. we also have a regular personal property section that covers everything else we own that's part of our regular policy.

so now i need to schedule to have our rings reappraised as i think their replacement value will double......which means that it would take several more lifetimes to pay to replace my rings. ugh. anyone know how much it cost to have jewelry appraised?? do i just take them to the jeweler to do this?
I had an appraisal recently, it was $50 at a local jeweler's.
post #46 of 48
depends on the value of your ring. i lost my ring once on amtrak. thank G-d it was insured...
post #47 of 48
Quote:
Originally Posted by polyhymnia View Post
I had an appraisal recently, it was $50 at a local jeweler's.
awesome......will call tomorrow! thanks!
post #48 of 48
okay, i have an appt. for wednesday at the jewelers to get my rings re-appraised. the price of platinum per ounce has tripled since we bought my rings.....which the original replacement value is what's included in our rider policy.

so thank you SOOO much for posting this as i never would have thought to check all this out and would have been kicking myself if i'd needed to use it.
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