Engagement Ring Insurance Companies
by Vanessa
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If you’ve decided to get engagement ring insurance but you don’t know where to start with the ring insurance process don’t worry, it doesn’t have to be that difficult. It will require spending some time doing a little research and comparison shopping, but it will be worth it once you are happy with your final engagement ring insurance policy. All providers have their idiosyncrasies, so it may take a little time for you to evaluate the best engagement ring insurance companies. You’ll want to shop around for engagement or wedding ring insurance the same way you shopped for car insurance.
Adding Engagement Ring Insurance To An Existing Policy
One option is to add a rider for engagement ring insurance to your current homeowner’s or renter’s insurance policy. Chances are you may already have some protection, but most policies only offer a limited amount of coverage unless you have a separate rider for jewelry insurance.
By adding a diamond ring insurance rider to your current policy you may be able to get a better rate because you already have other policies through the same company. Some companies provide a discount for having multiple policies through them as an incentive to stay with them for all your insurance needs.
It’s good to start with your current insurance company. Call or stop by and talk to your agent to see what type of coverage they can offer and to see what their engagement ring insurance rates are. But it is best to do some comparison shopping to make sure you get the coverage you want at a fair price. Don’t automatically assume your current company will provide the best coverage at the best price.
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If you find an insurance company with a better policy and rate for wedding ring insurance you may want to see what they can offer for home and auto insurance. By checking with other companies you may find a better deal for your other insurance needs as well.
Going To a Jewelry Insurance Company
Another option is to go to a jewelry insurance company. There are a few companies that specialize in insuring jewelry. If you aren’t happy with the rates or coverage you are quoted through other insurance companies you should definitely check with specialty engagement ring insurance companies; you should check anyway just for comparison sake as this is their specialty.
The main two jewelry insurance companies are Jewelers Mutual and Chubb Insurance. Since they specialize in jewelry insurance they can easily go over the specific questions you may have about insuring an engagement ring or any of your other valuable jewelry. These agents should have specialized training in insuring jewelry so they should be able to help evaluate jewelry appraisals and direct you to the coverage that fits your needs.
One other option is to ask your jeweler if they work with a specific insurance company so they can offer ring insurance. Some insurance companies will offer a policy through a jeweler on specific pieces of jewelry. These types of policies can vary dramatically company by company so be sure you ask a lot of questions about the level of coverage it would provide.
Whether you choose a specialty engagement ring insurance company or the company you use for other insurance make sure you ask a lot of questions so you fully understand your ring insurance policy and make sure it is the best fit for your needs.
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