How do you go about getting jewelry insured if you don't have homeowner's/renter's insurance?

Question

I just got engaged and would like to protect my ring and get it insured. I've read other similar questions but I don't have a homeowner's (don't have a home) or renter's policy (and don't plan to), so I can't get a floater or rider. What else is there? I've heard something about mariner's policies (?). Thanks!

Answer 1

i would find it hard to believe some insurance wouldn't gladly take your money in return for a policy.  but, hey maybe i am wrong.

Answer 2

Get renters insurance and add a rider.  Best and cheapest way.

Answer 3

Very simple.  These folks specialize in exactly the insurance you seek.

Answer 4

Well, the easiest, cheapest way is to buy a renters policy to add to it.  

You're thinking Inland Marine, not mariner, and you CAN buy a policy that way, but it's a lot more expensive than renters coverage, and the coverage is less broad.  

The best bang for your buck is a renters policy with endorsement.  If you insist on doing it the expensive way (think minimum premium of $500 a year), any local, independent agent can help you with that.

Answer 5

Hi!  You can purchase a personal articles policy.  I know for a $3000 ring in the state of MN where I have it is $30/year.  You obviously can go as high as you need to.  It will cover everything from if a diamond falls out to if you flush it down the toilet!  You can purchase that type of policy with no other insurance at all.  So, if you are not interested in renters/homeowners no need to worry!  You can get only the coverage you want!  All you need is an appraisal!

Answer 6

You can probably buy a renters policy and add the ring to it cheaper than if you purchased a stand alone jewelry policy.  With renters insurance, you will protect all of your personal property, additional living expense (if a covered loss makes your apt unlivable & you have to live elsewhere) and worldwide liability.  What if you accidentally (by leaving a pot on the stove or your coffee pot turned on) burned down the building or did major fire/water & smoke damage?  Could YOU afford to pay for the damages out of pocket, probably not, so, you purchase $500,000 liability on your renters policy (cost is normally $20-$30 for the liability coverage).  This is the prudent thing to do to protect yourself & your assets & protect others.

Also, what if there is a fire, not caused by you (or anyone, say lightning hit the building), but you lose all of your clothes & furniture?  Could you afford just to replace all of that stuff?  What if someone breaks into your apartment & steals all of you things?  Your landlord's insurance will NOT protect your contents.  Do you  have $10-$15,000 laying around in a bank account to replace your things?  Most people don't.  And that is what it would cost just to get started on replacing your things, I bet you couldn't replace everything for that amount.  Do an inventory of everything you own, not only include all your clothes, furniture, electronics but also pots, pans, dishes, linens, computer, CDs, DVDs, food, personal items, etc. It adds up FAST.