Where should I get insurance on the engagement ring I bought if I don't own/rent a home?

Question

I still live with my parents. Before asking "shouldn't you buy a home before a ring?" That is what I'm doing next. Rather than rent in the town I'm in (which is ridiculously expensive), I decided to live with my parents 2 years after college to save over 20 grand.

With that said, I know a lot of people get insurance through their homeowners/renters...but what are my options? I want a full replacement polcy where if she loses it I can get the same thing back.

Answer 1

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Answer 2

Well why should I buy car insurance when I don't own a home....

one has nothing to do with the other...any large money investment should have the protection of insurance......insure the ring and once you have homeowner's insruance make the switch if you wish, but don't expect full coverage unless you have a separate policy on the ring...good luck.

Answer 3

She puts the ring on HER insurance policy, not you. However, you can purchase additional insurance if it's a lot of bling.

Answer 4

Talk to your parents about what is covered under their homeowners insurance and see if that is covered.  You may also want to talk to your fiance (after you propose) about adding it to her renters/homeowners insurance because the ring will be "living" with her for two years.

Answer 5

You have your car insured, yes?  Go see them.

Answer 6

Since you are over 18, you should have renter's insurance.  This would cover the loss of your stuff as well.  You'll likely need a rider policy for the ring.  

Your parent's homeowner's insurance will not cover the loss of your fiance's engagement ring. Sorry, but it's not their's to insure.  There are also individual policies to cover jewelry. Check them out though. I have no experience with them.

Answer 7

I just went to my State Farm Insurance Agent, and they have a policy for ring insurance.  I already have car insurance through them, and my fiance and I signed up for renter's insurance at the same time.  It only costs me $45 per year for the ring insurance.  Just call your agent, and ask them about it.  You will have to bring the receipt for the ring so they can know the value.

Answer 8

I have insurance on my ring through Zales, where it was purchased.  My renter's insurance won't cover the cost of the ring.  I would have to buy a separate policy just for it.  Call different insurance companies and see what they offer.  Talk to the jewelry store.

Answer 9

You can buy a policy just on the jewelry.  Homeowners ins has minimal coverage on jewelry so it you were robbed or whatever you'd only get a small payment.  I always carry special insurance on my jewelry.  You'll need a receipt or an appraisal before they'll insure the ring.