Know what aspects of a diamond you need to focus on and which ones you don't to get the best
value on your engagement ring.
Not exact matches
On average, insuring an
engagement ring costs anywhere between fifteen and twenty dollars per thousand dollars of
value, per year.
Is now the time to take advantage of the
value of your old
engagement ring or wedding band, or should you hold
on to your gems?
Depending
on the
value, you can either add your
engagement ring to your renters insurance policy with an endorsement or get a separate «floater» policy that provides coverage
on top of the renters insurance.
What that limit is depends
on your policy, but for very valuable, high - priced items (like a very expensive
engagement ring), you will need to purchase a special endorsement for their official appraised
value in order to ensure that you a fully reimbursed.
Let's say you lose your
engagement ring on a trip with your family (or
on your honeymoon), a jewelry insurance floater would ensure that you got the full
value to replace your
ring.
If your newborn child will inherit a family heirloom that has some significant
value — such as a great - great grandfather's gold pocket watch or a grandmother's diamond
engagement ring — talk to your agent about whether you need to schedule it separately
on your home insurance policy, Salvatore advises.
This policy is a supplemental policy
on your home, condo or renters insurance policy, but provides the proper amount of coverage, insuring the full
value of your
engagement ring.
On average, insuring an
engagement ring costs anywhere between fifteen and twenty dollars per thousand dollars of
value, per year.
Depending
on the
value, you can either add your
engagement ring to your renters insurance policy with an endorsement or get a separate «floater» policy that provides coverage
on top of the renters insurance.