Insurance for a Wedding Ring

[Stuck_At_Work]

I recently got engaged. I assumed that my home-owners insurance policy covered the ring... but when I called State Farm, they suggested I get a 'Personal Articles Policy' to cover the rings independently. How have y'all covered your wedding rings?

 

[midtown]

Yes. We have all of our "expensive" jewelry on a personal articles policy. Remember you home owners probably has a 1% deductible where as this policy doesn't have one.

 

[bradford702]

personal article policy!!!!

 

[AustinTejasFan]

The Personal Articles Floater will cover the ring for almost anything that can happen to the ring, including disappearance. Your homeowners policy won't.

 

[CleverNickname]

interestingly this is known as an inland marine policy.

When I explained this to my wife, she asked me why did I find that interesting.

 

[CottonEyedHorn]

I have a separate policy on my wife's ring. It's only like $60 a year.

 

[Texas_Matt]

Congrats to the engagement. As for the ring you really need to a jewelry floater or “'Personal Articles Policy” for a couple of reason.

1 a jeweler floater it is all risk insurance policy, meaning no matter what happens to it, stolen in your home, lost at the lake, flushed down the toilet after an argument, its covered.

2 there in a Zero deductible, it will increase you homeowners policy slightly 150-300 bucks a year but it well worth it.

 

[Stuck_At_Work]

Ok. I'm looking into it. I'm curious - what other household items do you have covered with a 'Personal Article Policy' besides jewlery?

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[ballrific]

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[Texas_Matt]

Thinks of value need to be scheduled on a 'Personal Article Policy'. For example Jews, Guns, art, collectibles.

 

[Stuck_At_Work]

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[B]

My personal articles policy is $600 / year through State Farm. Where are you getting these lower priced deals?

 

[Texas_Matt]

Sorry for the typo its Friday,

Things of value need to be scheduled on a “Personal Article Policy” For example: Jewels, Guns, Art, Collectible.

 

[Stuck_At_Work]

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[fratboy_legend]

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[Don Johnson]

Most of my Jews are fully depreciated.

 

[mishatx]

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[fratboy_legend]

I think 2% of value is pretty standard. You have 30g worth of stuff?

 

[BattleshipTexas]

Wow, we barely averted somebody being branded as an anti-semite.

 

[NCAAFBALLROX]

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[uisge beatha]

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[Summit104]

PM crayon.

 

[LdyLnghrn]

I work in Property Claims, and the biggest reason that you need to schedule those classes of items (jewelry, guns, silver, furs, coins, etc...) is that there are dollar limits on the standard Homeowner's Policy for those classes, among others. For instance, most Homeowner's Policies have a limit of just $1000 for theft of jewelry. Thats PER LOSS. Not per item. And, your standard Homeowner's Policy doesn't cover "loss", as a peril. Leave a ring laying on the counter in the bathroom at DKR-TMS while washing hands, and you are S-O-L. Insure the ring on a PAF policy, and it's covered. You do need to make sure that you get an updated appraisal at least every 5 years, since the items will be insured for a scheduled amount. As the replacement costs increase, you could find yourself not having enough coverage to replace a lost/stolen/damaged item.

 

[kmac30]

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