Wedding set included in homeowners insurance?

[spk926]

Ours is with the same company (we have cars, snowmobiles, house, etc.. all with the same agent). It is a separate policy though called Personal Articles Policy I believe. I'm pretty sure it's something like $10 per year per $1,000 insured. So my wedding and engagement ring plus DH's ring is worth about $6,000 so we pay about $60 a year for them to be insured.

[mollybrown]

The rate is mostly based on how much your rings are worth. I would want my rings replaced if something happened to them, so it's worth the couple of hundred I pay for insurance a year. It would take several lifetimes of saving $200 a year to accumulate the value of my rings, so it's not something I'm willing to self insure. The appraisal was $75.

The real question is, would you want your rings replaced if something happens to them? It sounds like you couldn't/wouldn't replace them without insurance, so I would let that guide me in your shoes.

[dapotato]

yes. similar rate to what spk pays. we only insured my engagement ring as our bands are pretty inexpensive, so we'd just pay to replace them, if needed. i think the policy is for replacement value rather than actual cash value, too.

an appraisal at a reputable, independent appraiser only (so not associated w/a jeweler or store) was only about $100 for me, and i'm in HCOL.

[dragonfly08]

My wedding band is under our regular policy because it will cover up to $2k of electronics or jewelry, and the ring is probably worth slightly more than that but not enough for me to bother with a rider.

My engagement ring is on it's own policy. From $2k-$10k appraised value, our insurer allows you to add a personal articles rider to your regular policy. Anything over $10k appraised value must have it's own policy and that's where my ring falls.

[ssmjlm]

We have a rider. I think it's about $100/year. DH set it up. Even though we have a warranty through our jeweler, I wanted the additional insurance for replacement.

[kate1482]

Our life/car/umbrella/home insurance is with the same company. There is a line for scheduled personal property on our homeowners insurance policy. We just have my engagement ring insured and it looks like for $16,340 of coverage it's $188 a year. Seems pretty cheap to me!

[AAM2012]

Most homeowners insurance policies have a limit of what they will pay for jewelry for example I believe ours is up to $1200 but it may be even less. Meaning that if someone comes and steals ALL our jewelry (my rings, earings, DH's watches, etc) we would only get $1200. But we purchased an additional policy for $14/month that provides additional blanket coverage of $2,000 plus up to $5k for my engagement ring alone.

It would take several years for me to save $14/month to have enough money to replace my ring/jewelry if something should happen to it.

[drloretta]

We have a personal property rider that covers things like our rings. It's under $100/year

[chessie]

Mine is covered under my HO's, nothing extra since it was a cheap ring.

[skib]

We have a rider for my engagement ring and wedding band, but not my husband's band, since it only cost a few hundred dollars. My set is valued at about $8,000, and it costs $32 a year for the rider on our HO insurance policy. And my appraisal was around $75.

[bluejen22]

I have a Personal Articles Policy through State Farm where my other insurance is (car and home). We have $5400- ering and wedding band-insured and its around $44 a year.

[Norticprincess]

My wedding band would be covered, my ering is above the payout level unless you buy a rider. It was cheaper to get a separate jewelry policy. That policy has no deductible. ~$1.25/$100 value a year (varies by zip code.) Jeweler's Mutual

[M]

It depends on how much your ring is worth, but for most people, you'll have to get a separate rider. Mine came out to about $1 per $100 per year with State Farm.

An appraisal also shouldn't cost you more than $150 or so...less if you have certification on it. I only paid $120 for just my e-ring appraisal (bands came with one from Tiffany's). Even then I felt like it was a rip off since all they did was take a picture and copy the info directly from the GIA cert.

[LoveTrains]

Yup, like others have mentioned, I have a rider for personal articles on my homeowners. My coverage is about $100/year.

[MrsManners]

Get them appraised and then get the rider added to your policy.

Sincerely,

The woman who lost her engagement ring right off her hand

[pamela]

My ring is worth about $5k so above the limits in our HO insurance. We have an additional rider on it that's $75/year. The appraisal was free from the place my husband bought the ring and the insurance accepted that.

Of course, my insurance does not cover "contamination, activation or irradiation" which is funny because that's most likely how I'm going to lose my ring at work.

[Deleted]

I think a rider or separate articles policy is worth every penny. My mom lost her diamond -- prong broke and the stone fell out she was devastated for sentimental reasons. They didn't have ins and it took YEARS for my parents to replace her stone -- just wasn't high on the priority list... We pay about $2000/year in insurance for my engagement ring - everything is based on the appraised value. Good luck in your decision!

[flymetothemoon]

Depending on where you live, I'd recommend Erie insurance. I pay $252/year for a premium that covers my wedding set and my husbands and it is over the 25K value you mentioned in your above post. It is a completely separate inland marine policy and is whole replacement under any circumstance.

[magdala9]

Yes, my engagement ring is added to our homeowner's insurance. They asked for a professional appraisal and gave us a list of appraisers in our area that they had worked with before. The ring appraised at $12k and the yearly cost is $120. The appraisal was a separate fee of $50 to the appraiser.

[genet313]

We have a rider to our renter's insurance. I had to provide an appraisal to the insurance company, and they set the rate from there. I think it's about $200 a year.

It seems exorbitant, but I love my rings and we don't have enough $$$ lying around to re-make them if anything happened tomorrow.

I am generally a proponent of self insurance, but some things are just not practicably self-insurable.

[bcv513]

We have a rider on our homeowner's insurance. I didn't have to pay for a separate appraisal. They just went by the jeweler's appraisal

[gt7301b]

Jan 2, 2013 10:33:27 GMT -5 @switzerland said:

I think a rider or separate articles policy is worth every penny. My mom lost her diamond -- prong broke and the stone fell out she was devastated for sentimental reasons. They didn't have ins and it took YEARS for my parents to replace her stone -- just wasn't high on the priority list... We pay about $2000/year in insurance for my engagement ring - everything is based on the appraised value. Good luck in your decision!

Good Lord!!! How much was your ring?