Engagement Ring Insurance

Hills30

I was wondering if anyone has advice for Engagement ring insurance? We rent and don't have content insurance. When I looked in to getting content insurance it was about €60 which seems very high to really just cover the ring.
Are there standalone places?

Paulownia

Hills30 wrote: »

I was wondering if anyone has advice for Engagement ring insurance? We rent and don't have content insurance. When I looked in to getting content insurance it was about €60 which seems very high to really just cover the ring.
Are there standalone places?

A lot of insurers will stipulate that the ring is only insured when it's on your finger.
My wife has a very valuable solitaire ring which I inherited and we could only insure it on our house policy for when it is on her finger.

Arbiter of Good Taste

Hills30 wrote: »

I was wondering if anyone has advice for Engagement ring insurance? We rent and don't have content insurance. When I looked in to getting content insurance it was about €60 which seems very high to really just cover the ring.
Are there standalone places?

Insurance goes through the roof once you add an engagement ring in. I would need to check, but our house insurance went up about 25-30% once I added my rings.

Laura_A

I took out contents insurance after I got engaged mainly to cover my ring- I am covered up to 25K and the ring is specified in the policy and submitted valuation etc.. It is covered inside and outside of the home... I am paying 18/month with axa...

Princess Peach

Hills30 wrote: »

I was wondering if anyone has advice for Engagement ring insurance? We rent and don't have content insurance. When I looked in to getting content insurance it was about €60 which seems very high to really just cover the ring.
Are there standalone places?

Does it not cover the rest of your contents too though?

We pay about double that annually for our renters insurance including the ring, which I think is a pretty good investment incase of a disaster.

And my ring is covered outside of the home too.

Hills30

Princess Peach wrote: »

Does it not cover the rest of your contents too though?

We pay about double that annually for our renters insurance including the ring, which I think is a pretty good investment incase of a disaster.

And my ring is covered outside of the home too.

The €60 is monthly!!!

Princess Peach

OK shop around for sure so! Ours is with AA

Arbiter of Good Taste

Hills30 wrote: »

The €60 is monthly!!!

That's about what I was paying with my original insurer. Got it a couple of hundred euro cheaper by switching. But will still be pricey

bee06

Hills30 wrote: »

The €60 is monthly!!!

That's an absolutely outrageous quote. We pay 250 euro for building and contents insurance including my ring?

As someone else said, shop around. I paid max 100 euro when I was buying contents only.

ChampagnePop

I went with insurance from the jeweller, it cost €250 for three years, and they'll check the stones before the cover is up.
Do I need to get it on my house insurance too? I don't have house insurance

meeeeh

ChampagnePop wrote: »

I went with insurance from the jeweller, it cost €250 for three years, and they'll check the stones before the cover is up.
Do I need to get it on my house insurance too? I don't have house insurance

You need to check what insurance from jeweller costs. But if you own a house and don't have insurance I would be a bit more worried about insuring the house.

Paulownia

bee06 wrote: »

That's an absolutely outrageous quote. We pay 250 euro for building and contents insurance including my ring?

As someone else said, shop around. I paid max 100 euro when I was buying contents only.

Insurance premiums are based on the value of what is insured and without knowing that we cannot judge

Toots

Paulownia wrote: »

Insurance premiums are based on the value of what is insured and without knowing that we cannot judge

That's true, if the ring is worth like €15k or something that's going to drive the premium up.

OP my engagement ring is worth about 2.5k and wedding ring about 1k. I've them both included on my contents insurance and that covers them wherever I go, not just in the house. I'm with liberty and paying about €22 per month, so it might be worth shopping around.

ChampagnePop

meeeeh wrote: »

You need to check what insurance from jeweller costs. But if you own a house and don't have insurance I would be a bit more worried about insuring the house.

I only rent so don't have house insurance at the moment, I probably should

meeeeh

ChampagnePop wrote: »

I only rent so don't have house insurance at the moment, I probably should

Oh sorry I thought you were a home owner.

Anyway we don't have engagement ring listed but the content is insured for about 20k (or maybe 30k) and premium is just under 400 euro. We just renewed it so I have to check when I get the policy.

Toots

ChampagnePop wrote: »

I only rent so don't have house insurance at the moment, I probably should

You can still get contents only insurance if you're renting, so it's not a bad idea to have it just in case. I'm in an apartment, so we don't have buildings insurance on our own policy - it's a block policy for the whole complex - but we do have contents insurance.

Gatica

We could only get our rings insured as part of a home policy because of its value. Some insurers will only go up to a certain amount for ring-only insurance.
We paid close to 500 to FBD for contents insurance, which includes a few named items of electronics, bikes and the rings. The value of the contents had to be such that the value of the ring didn't exceed a certain percentage of the total contents value. I had a look around and couldn't find anything else that came close to meeting our needs.

whomitconcerns

I paid 110 last year for contents insurance covering up to 25k with a computer and tv worth 1500 each specified on the policy. 60/month you were being had!

Paulownia

Toots wrote: »

That's true, if the ring is worth like €15k or something that's going to drive the premium up.

OP my engagement ring is worth about 2.5k and wedding ring about 1k. I've them both included on my contents insurance and that covers them wherever I go, not just in the house. I'm with liberty and paying about €22 per month, so it might be worth shopping around.

You are probably right, this is a wacky ring, we just didn't insure it at all.
Losing it is probably good grounds for divorce