Ring Insurance?
Question by Yari: Ring Insurance?
Does anyone have insurance on their engagement ring and if so how does that work? I was told to call the same ppl that have my home or my car insured but I dont own a home nor do i have a car so where so i start to look for insurance?
Best answer:
Answer by duoak
Most people have their ring covered under their homeowner’s insurance. If you don’t own your home and you’re renting, you would get renter’s insurance.
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Tags: engagement ring, homeowners insurance, Insurance, ring insurance
just get home owners insurance it covers everything.
If you have renters’ insurance, you can put it under that. If your fiancee has car, homeowners’ or renters’ insurance, they can have it covered under their insurance. Either way, get it done!
lets just be clear. if you do not own your home, you need to have renters insurance. home insurance and renters insurance does NOT just cover everything. the ring would be covered up to a certain amount under either of those policies. (usually $ 1000) anything over that amount in value needs to be scheduled., for this you will have to have an appraisal or an original receipt to insure it to the actual replacement value of the ring. to schedule anything you will pay for it in addition to the yearly premium of the policy.
Just go to a few local agencies like state farm and liberty mutual. If you did have homeowners insurance it is usually cheaper to insure the ring. Get a few different quotes because prices vary. It depends heavily on where you live. Areas where the insurance company sees a high claim frequency will cost more. Also take a good look at the policy. A cheap policy might not offer as much coverage as a more expensive policy.
Many policies will cover you anywhere in the world for (almost)whatever reason you claim.
Good luck!
You would schedule it on either a homeowners policy or a tenant homeowners (renters) policy. You need to call an agent (ask your friends for a referral) and get a renters policy that covers the contents where you live. Tell them you wish to schedule (specifically insure) the engagement ring – they may need an appraisal or bill of sale.
Does your fiance have an agent? That would be a good place to start too.
The cheapest, most effective way to insure it is on your tenant’s policy – renter’s insurance. EVen if you live at home with your parents, you can still take out a renters policy for YOUR stuff, including your ring.
You don’t have to pay rent, to have a renter’s policy.