I just got engaged....is there an insurance company out there that will only insure a ring??

Answer 1

Sure, you can go to an inland marine company such as Great American, and do a stand alone policy. Premiums START at $1,000.

It's MUCH cheaper to buy a renters policy, even if you live at home with your parents, and add the ring to that - maybe it will cost you $300 max.

So you get to choose . . .do you want it YOUR way, or do you want it the most cost effective way?

See a local, independent agent in either case, they'll be able to write it both ways.

Answer 2

It is much cheaper to insure it on a renters or homeowners policy. Take out a minimum renters policy if you don't already have one and add it on. You will need an appraisal. Make sure that you ask for agreed value jewelry or valued jewelry. If something happens to the ring (theft, loss) you get paid the amount that you insure it for. If you just have it added to an inland marine without the agreed value clause the insurance company pays what they can get it for from a wholesaler which is always less than what you have it insured for. If you still think, after everyone has advised you to add it to your homeowners, call an independent agent and they MAY be able to help you find a policy. Not many companies write this type of coverage at a reasonable price.

Answer 3

If you have Homeowner's or Renter's insurance there is coverage for jewelry, but there is normally a limit that will apply. If you need to insure the ring separately for the appraised value you can insure it on a personal articles floater, but you must have a renter's or homeowner's policy in order to purchase the personal articles floater. The premium will most likely be very inexpensive.

Answer 4

I added a separate personal property policy for my ring with my auto carrier - State Farm. At the time I lived at home so I had no renters or homeowners insurance. It is replacement value and cost about $70 a year, no deductible.

Typically homeowners and renters policy will not cover the full value of your ring and will have a deductible

Answer 5

If you have a tenants policy or homeowners you can add a rider for the value of the ring. Unless you get the rider you would only have coverage of $500 to $1000 under the tenants/ho policy.l

Answer 6

If you have homeowners insurance, they will. That is what my ring is covered under.
Try calling Big Insurance Co's such as stste farm or farmers.

Answer 7

Congrats!!!

Any insurance company will - often it can be tacked on to your homeowners or renters' insurance or call the broker who handles your car insurance. (It's like $75 or so a year, I heard.)

Good luck and best wishes!

Answer 8

Yeah, but just call the same place you already have your other insurance and ask for a rider on it.

Answer 9

Just one addition to the prior answer about the personal articles policy-- make sure you get an appraisal to take with you-- this will save you lots of time/waiting.

Answer 10

you have to get a Homeshield isnurance cover first and declare your valuable things on the the policy. It is covered even you will travel.