Engagement ring insurance? Has anyone done this and how?

Question

Here's the thing: my fiance actually WASHED the apparaisal certificate in the laundry by mistake, and now it looks like c**p and has holes in it (obviously, it's paper). However, you can still see the specs, picture, and price of the ring.

The place he bought it at is like 2 hours away from our house. Do I HAVE to present the original appraisal certificate in order to insure the ring? Or can I just get another place to appraise it again nearby? (especially since I still have the laundered, lol, original).

Also, we do not own a home but my parents do. Can I do it through their homeowners' insurance and how?

The ring is worth almost $6K and I've been engaged for 2 months already, and don't really feel comfortable without having it insured.

Any suggestions are welcome. Thanks so much!

Answer 1

check with your local state farm agent.  you can get a personal articles policy that will insure the ring and it's an all perils coverage, meaning regardless of what happens to it, it's covered.  You won't need to have home insurance in order to obtain this because it's a seperate policy than homeowners insurance.  State's vary, but in Missouri if the value is less than $5000 you won't need an appraisal, however, you if have the reciept you can use that instead of an appriasal.  You're agent will work with you getting what you need.  Once again, it vary's, but here the annual premium would only be about $50.  

good luck!

Answer 2

ask your jeweler to give you an appraisal most of them will give it to you for free or no more than 20 dollars

Answer 3

You can get it reappraised that would be fine. Even without owning a home you should at least have renters insurance to cover your personal belongings. You can get a personal articles policy that is separate from home owners insurance.

Just call your P&C agent.

Answer 4

I also work for State Farm.  The personal articles policy is very inexpensive and gives the all peril coverage.  Ask an agent if they require an appraisal or if a receipt will do.  Most will require the documentation to at least have the 4 c's (cut, color, clarity, carat).  I would also reccomend asking for a $0 deductible since there is hardly and difference in premium.

Answer 5

Matt is correct - the receipt should be sufficient...

The coverage is SO CHEAP it will shock you!