Ring insurance

cmlisenk

Hello! I have a service protection plan  from Kay that covers maintenance and replacing a lost or broken stone but should I get a rider or other plan to cover its theft or other issues?

brij2006

You should be able to schedule it on your homeowners insurance policy.  That will cover it for theft/mysterious disappearance, etc.

If you don't have a homeowners policy, then you should be able to insure it on a renters insurance policy or what companies call an "inland marine" policy. Which is a policy specifically for scheduling valuable items.

We have $4k on my ring, and it costs us $35 a year on our homeowners policy. That is with a $0 deductible. Worth the peace of mind to me.

MommyLiberty5013

I think you are referring to what is called a Valuable Personal Property Rider, which is tacked onto your renter's or homeowner's policy.

Many people do carry these on family heirloom jewelry and e-rings/wedding bands.

It really just depends on the value of the jewelry piece. Are we talking $1k, $10k, $25k ring here?

My opinion is that if the piece is over a few thousand dollars and/or it's truly a rare, one-of-a-kind piece, to go ahead and insure it.

CuriousKiddosMama

We did. It depends on the type of your insurance and the price of your ring though. Most people if there is a fire have coverage for X amount, a rider for your ring would be on top of that. It didn't cost us hardly anything to add it to our homeowners insurance, so we did for my ring.

vlagrl29

we put all of our expensive jewelry on our homeowners policy.  we had them all appraised first

h2babe

vlagrl29:

we put all of our expensive jewelry on our homeowners policy.  we had them all appraised first

This is me as well 

mrs riva

I have my e-ring and wedding band insured due to value and a family heirloom. I have a "jewelry floater" added to my renters insurance and it's about $100 a year. Well worth it, IMO. If you want to insure it, you must get it appraised first. 

jtmh2012

If you plan to cover it under your homeowners/renters insurance then make sure you have a jewelry rider or check your policy limits.  I called my insurance and the default limits on my homeowners was $1500 for a single piece or $2500 for a collection.  If I needed more coverage, we needed to added a rider.