Is your engagement ring insured? My engagement ring is the only real jewelry I own that's worth anything and I have had it insured since we got engaged. I am trying to cut down on some costs so we're in the process of getting new homeowners insurance and adding the ring to our policy increases the premium about $70/year. I guess over the course of a year $70 isn't that much, but I am wondering if it's worth it? I stay home now, so I am not wearing the ring nearly as much and a lot of time I just throw on my wedding band. But, if the diamond fell out tomorrow we probably wouldn't be able to afford to replace it right now and I would be devastated. Just wondering what others do!
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It is and has been since we got it. I don’t know how much extra it is per year actually. Our wedding rings are not since they cost significantly less and it would be more cost effective to just buy them.
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if this is short term cost cutting, you could always just put it in a safe if you aren't wearing it all. Of course there would still be a risk of loss, but it would be dramatically less than the chance of losing a stone while wearing it.
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It’s annoying to pay but it’s worth it to us. I would just be so sick if something happened ...
I like the idea above if you need a short term solution. -
Yes I do.
I lost my wedding ring a couple of years ago and I was pretty devastated. We ended up finding it, but I would have been super upset had I known I’d dropped my insurance and would have to pay out of pocket to replace it.
I’m pretty sure @sweetiepie lost her wedding ring and made an insurance claim. I think she stayed at home at the time.
Also: to put things in perspective, my wedding ring (as a set) is worth more than my husband’s car. It doesn’t cross my mind to not insure his car. I know not exactly apples to apples, but still.
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My ring was only $300 so no
🤣
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Mine is insured but I sometimes consider dropping it as I have a chocolate diamond that is basically irreplaceable anyway. But if something happened to my set we wouldn't be able to just replace it without saving some first so it makes me feel better that I could get something equally as beautiful if something happened to my rings.
My wedding band is also insured as its only like 10 a year to insure it and is about 1k to replace
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I wish I could but my ring is a family heirloom (from DH's great-grandmother's ring purchased in Italy). Although a fairly simple ring, it is of stunning quality and I would be heartbroken if I ever lost it due to the sentimentality behind the ring itself. Financially, to replace it would be one thing (as quality-wise nowadays it would cost a fortune), but more so, I'm always afraid of losing the main stone since it is so old and it is special to me [as well as to DH and his family]. I have not done my research -- Can one insure family heirlooms?
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No neither my eRing or my push present (they were roughly the same amount) are currently insured. I think it’s worth it, but I just haven’t gotten them appraised yet to get them insured again. For the most part I constantly wear them.
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@Kaohinani: you can, you'd just need a new appraisal. It would be insured to replace with a stone of like clarity and quality. But I don't think it would be a vintage stone. My friend has an heirloom stone and doesn't insure her ring because she feels the stone is priceless and would be heartbroken to loose it. A replacement wouldn't be the same.
Your best bet with a stone that couldn't be easily replaced is to make sure it is inspected often by a reputable jeweler -
My engagement ring is insured but I would never be able to replace it - the stone, while not large, is a family stone from roughly 1915. We had it reset when we got engaged but not sure I would even get the same setting with a different stone. So like another poster I insure it so I could get something equally beautiful, though I would definitely be devastated.
@Kaohinani: You can definitely insure heirloom pieces, you would just need to take it for an appraisal first. I have multiple heirloom pieces insured.
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So my ring was insured, and then we switched policies and the guy from the new policy told us it wasn’t necessary, that it would be included under our coverage. Then we went to Mexico and my rings were stolen out of our hotel room and it turned out that while we did have “jewelry coverage” it maxed out at $5,000, which didn’t fully cover a replacement. So I would recommend insuring them. $70 a year is like $6 a month.
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I’d definitely fork over the $70/year to insure if it was me and the ring is over 3k to replace. My set would be under 2500 I think and if they got stolen then I’d probably just get one plain wedding band...no one would steal my rings. Bahaha. We have insurance for breakage that was purchased with the rings and as long as I go to the store every 6 months to get it looked at then we could get it replaced if they broke. I think it was $100 for life.
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@MamaBear87: @Catgirl:
Thank you for the great information, ladies!
You have given me a lot to think about. At the minimum, I will be getting my heirloom ring appraised before deciding on whether or not to go forward with insuring. Thank you again. 
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Mine used to be on a jewelry only policy since it exceeded the value of what could be on a homeowners rider. We dropped it a couple years ago. My e-ring is in the five figures to replace (just for context).
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No. I wanted to make sure I had a ring that I wouldn’t have to worry about. No amount of money will replace the sentimental value. I’m a girl that will fillet fish with my rings on, it’s not ideal but to have to stop and think about jewelry is not my jam.
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Yes, and thank goodness because I lost it once 🤦♀️ I posted about it here. It was about 3 years ago now. It still makes me sick to think about, and of course the sentimental value can’t be replaced. But I think about how much worse it would have been if we lost the monetary value as well.
I was able to replace it with an identical ring. While I know it’s not THE original, i almost Forget sometimes becuase it’s so identical.
If I ever found my old ring I would return this to the insurance company in a heartbeat. It’s my dream to find it someday when we’re moving out or something. -
My wedding ring cost between $2000 and $3000 when I had it made. Though we couldn't easily afford to replace it, I do not currently have it insured. I am not sure whether that small an amount would be covered under our homeowners' insurance. I don't wear my family heirloom engagement ring, and have no idea of its value.
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Yes but our homeowners insurance doesn't offer coverage. So we have a separate policy and it is less han $40 a year. My ring is around the 3k mark.
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My ring was originally on our Renters insurance policy as an additional jewelry rider. But it somehow fell off the policy when we bought our house 5 years ago. I realized it a few years later but only went to an appraiser a few weeks ago to get an updated documemt. The cost is about $100 a year which is worth the piece of mind to me.
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@Lindsay05: ditto. Before we got engaged I told my husband that my ring requirements were : simple, not too expensive, and rounded and mostly flat so it wouldn’t be a danger to anyone, especially kids, and so that I would never need to remove it for an activity.
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Also, I should add that cost and hassle would be the major barriers if I lost my ring and wanted a replacement (it took a long time to find a jeweler who would make what I wanted the first time, and we live several states away from that place now). I am not sentimental about either my engagement or wedding rings.
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@DesertDreams88: mine too!! I’d love to see photos of all of your rings, ladies! So, my engagement ring that was about $300 was like 1/4 carat. I lost the diamond in a movie theater and never found it. I now just wear fun pieces from Etsy that are CZs but look real. I guess I’m not really into big expensive diamonds, but if I did have one- I’d insure it! And trust me, if given one, I’d gladly take it!
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My rings are under $3,000 so covered under our general house and contents insurance.
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My ring was less than $1k so no
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My rings are less than 2k, I'm honestly not sure if they're already covered on our house insurance, but I wouldn't pay extra for it. I never take them off and they are hard to get off.
Wondering though, doesn't the jeweler cover it if a diamond falls out (for those that have insurance just for that)? I get my rings inspected 2x a year, and as long as I keep doing that, if a diamond were to fall out, they would replace it as part of the warranty.
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@josina: my rings are from a small independent jeweler so we paid significantly less than we would have at a large chain jeweler. Our small jeweler doesn't offer anything to cover lost stones so it isn't an option for everyone. I do take mine 1-2 times a year to have the prongs checked to avoid loosing a stone though
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@josina: we bought just a setting from a local shop and had a family stone set in it. So no our local shop doesn't cover the loss of the main diamond.
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Nope, not insured, but I never, ever, ever take it off--not during manicures, not when I go to the gym, not during my pregnancies. Only to clean it every so often and then it goes right back on. It's literally a pry it off my cold dead hands situation. So the only way we'd lose it is if I was mugged or if the diamond fell out--it's just under a carat which to us is replaceable. I'm jealous of people who have a sentimental family stone, that is so sweet.
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No, but I've been meaning to insure it - I've just put it off because of the hassle of getting it appraised, etc. If something were to happen to it I'd probably not be able to replace it with an identical ring because we have other financial priorities now...
I didn't realize you could add it to your home insurance policy so I'll definitely look into that.
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@MamaBear87: @pinkb: Gotcha!
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@CatchAFallingStar: glad to know I'm not the only one
I've thought of getting a sapphire (fake or real) to match a lot of my blue outfits; or CZ rings. I'm not very sentimental. I have a ruby instead though because the Bible says, "A wife of honor who may find? She is worth far more than rubies." Always took that to heart as a reminder of what really matters.... honor, not beauty or money or humor etc.
You have given me a lot to think about. At the minimum, I will be getting my heirloom ring appraised before deciding on whether or not to go forward with insuring. Thank you again. 
I've thought of getting a sapphire (fake or real) to match a lot of my blue outfits; or CZ rings. I'm not very sentimental. I have a ruby instead though because the Bible says, "A wife of honor who may find? She is worth far more than rubies." Always took that to heart as a reminder of what really matters.... honor, not beauty or money or humor etc.
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