high-value ring insurance

[ManhattanSpin]

I am looking for some advice on insurance for the e-ring I just purchased. Total value is probably around $110k. Ideally, a policy that would pay cash out and not try to replace it with something that would undoubtedly be inferior quality would be ideal!

Also, would be great if it was a policy where you can add additional jewelry pieces as well. Have another $30k worth of jewelry that isn't currently insured, but maybe could be added to the policy for a reasonable price.

 

[MadisonGirl]

My e-ring is around the same value, we just used the same provider for our renter's insurance. State Farm I believe.

 

[04diamond<3]

My e-ring is around the same value, we just used the same provider for our renter's insurance. State Farm I believe.

I also have my ering insured through state farm because that's where we have all our other insurance. It's only insured for 6k, but when we had my first diamond damaged, they picked out who we had to go with and replaced it with something almost the exact same just a bit better cut. I wouldn't recommend this at all. PS has an insurance company that is advertised on here (i forget the name), but I've looked at their policy and I wish we had that, and I would take that if I were you.

Here it is:

https://my.perfectcircleinsurance.com/FreeQuote/Quotes/?utm_source=PriceScope&utm_medium=banner&utm_term=brand_quote&utm_content

 

[heididdl]

I have had experience with losing jewelry. If your ering is insured for replacement value you will get that amount in cash from the insurance company. Some insurance companies will try to get you to allow them to replace the ring but you just tell them you want the cash as you want to use your jeweler.

 

[04diamond<3]

I have had experience with losing jewelry. If your ering is insured for replacement value you will get that amount in cash from the insurance company. Some insurance companies will try to get you to allow them to replace the ring but you just tell them you want the cash as you want to use your jeweler.

well I know for a fact that state farm does not do this. I would highly recommend going with an insurance company that insures jewelry like the link i posted earlier.

 

[ManhattanSpin]

OK, I use state farm for some properties I have insured so that would be logical...but not if they get to pick the stone that is "comparable" to them!

I think the only thing that would work for my soon to be finance would be the cash option where we can find our own replacement that meets our standards.

 

[LibbyLA]

I don't think that Perfect Circle does the cash option, but you do get to choose the jeweler you work with and you get to choose the replacement, which is what you'd likely do with the cash if you got it.

liz

 

[maccers]

I'm going to ask what no one else is asking: Where are the pictures of this ring?! I'd love to see what a 100K+ ring looks like.

 

[WillyDiamond]

I believe that Chubb is a cash policy. They may require to have your Homeowners and car insurance, not just do standalone.

 

[bgray]

We use Chubb. Cash replacement. We have the ring as a stand alone and additional jewelry as a rider. We also have Chubb homeowners.

 

[blingbunny10]

http://www.jewelersmutual.com/ is well known and well regarded. I would advise against State Farm and other general insurance companies to insure jewelry- definitely go with jewelry insurance specifically! Chubb was mentioned above. They are very well regarded, too.

Adding additional items as your collection grows should not be a problem.

 

[MsP]

I believe USAA does a cash payout as well. Their prices were much more competitive than the quote I got from Chubb.

 

[diamondseeker2006]

I have a jewelry only policy with Chubb and it is a cash pay-out policy. There have been people recently who were told that Chubb no longer will write a Chubb policy, but a member here with a 4 ct. diamond WAS able to get a policy from them. I think that maybe they just have no interest in small policies. I prefer having my jewelry separate from our homeowners policy. And certainly most homeowners policies are not cash payout. I do add new pieces to this policy.

I will try to find out the name of the agent who wrote the recent policy and report back.

https://www.chubb.com/personal/insurance.jsp#/Valuables/Jewelry

 

[Laila619]

I have had experience with losing jewelry. If your ering is insured for replacement value you will get that amount in cash from the insurance company. Some insurance companies will try to get you to allow them to replace the ring but you just tell them you want the cash as you want to use your jeweler.

well I know for a fact that state farm does not do this. I would highly recommend going with an insurance company that insures jewelry like the link i posted earlier.

I think it varies by region and also by the agent's office. My State Farm agent told me I would get the cash if I ever lost my ring.

 

[ponder]

I have had experience with losing jewelry. If your ering is insured for replacement value you will get that amount in cash from the insurance company. Some insurance companies will try to get you to allow them to replace the ring but you just tell them you want the cash as you want to use your jeweler.

well I know for a fact that state farm does not do this. I would highly recommend going with an insurance company that insures jewelry like the link i posted earlier.

I think it varies by region and also by the agent's office. My State Farm agent told me I would get the cash if I ever lost my ring.

It must. My personal articles policy through State Farm is a cash payout and not a replacement.