# insuring an engagement ring bought abroad



## dawnsurprise (5 Jun 2007)

i have just bought a new engagement ring in antwerp - i have not got it insured yet... i was wondering can i go to an insurance company and ask them to insure my ring all risks, without having other insurance with them (such as house insurance) - also, which company would you recommend 
i dont have the valuation yet, this is being posted to me from antwerp - will insurance company insure with this, or do i have to get the ring valued in ireland? - if so, can somone please recommend a trusthworthy place where i can get a valuation (in meath or dublin area please)... thanks in advance....


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## jrewing (6 Jun 2007)

I can't answer your first question re: insuring separate from house insurance, but I can confirm that the valuation from Antwerp should be accepted by the insurance company. In my case, FBD accepted a similar valuation. This was done as part of my house insurance.


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## bacchus (6 Jun 2007)

Valuation required?
It depends on the value of the ring... some insurance company, (e.g. hibernian?), will not require valuation if items is less than certain amount, (e.g. €10k).

Not sure about insuring it without having any other insurance..


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## TDON (6 Jun 2007)

Personally I would recommend Weirs on Grafton St. for the valuation.

On the subject of insurance I do not believe you can get it insured without having a home insurance policy. But as a suggestion, if you do not yet have your own home, would it be possible that you could ask your parents to insure it under their homeowners policy and have it listed separately. In which case you will see the breakdown of how much the ring is costing extra on their policy and you could pay that part yourself. Obviously they would have to be willing to do this as it is their policy at the end of the day.


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## dawnsurprise (6 Jun 2007)

thanks for above info... do you have to pay for a valuation?


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## jrewing (6 Jun 2007)

Be aware that your ring will probably be valued at a higher price in Ireland than what you actually paid for it. This will make your insurance more expensive.

You will have to decide what you would do in the case that the ring is lost. Would you buy it in Ireland (more expensive) or go back to Antwerp (cheaper, but cost of flights) ?


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## MonkeyFeet (6 Jun 2007)

I am in the similar situation to yourself dawnsurprise

I recently got an engagement ring in USA

While I was given a valuation from the jeweler in USA, this is not acceptable by my insurance company here

I need to get a valuation in Ireland in order to get it insured here. I'm not sure if Antwerp valuation will be accepted by an Irish insurance company.

I would not recommend going to Weirs to get it valued as it takes about 2 months, and while it is in their care it is not insured by anyone.

ESL in the powerscourt center in Dublin charge about €80 for valuation, and do the valuation while you wait and post out the written valuation a couple of days afterwards.

You will probably find it difficult to insure the ring on its own, if you do not have a house insurance policy


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## TDON (6 Jun 2007)

Monkeyfeet, I've made a few purchases in Weirs and from _my_ experience found them great. Even 1 ring that had to be specially made from scratch only took 2 weeks and the last time I needed something valued by them I was asked to come back the next day and it was there waiting for me. However I don't think it was the fact that I am a customer had anything to do with it, cos I wouldn't recognise the staff from one visit to the next so I'd say it would work vise versa. Also, if you receive a receipt from them saying they have your property, of course it would be insured and especially in a premises like that, everything would have to be insured.They wouldn't be able to get out of that and being such a reputable company they wouldn't even try.


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## jrewing (6 Jun 2007)

MonkeyFeet said:


> I need to get a valuation in Ireland in order to get it insured here. I'm not sure if Antwerp valuation will be accepted by an Irish insurance company.


 
As I said earlier, FBD accepted my valuation from Antwerp.


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## MonkeyFeet (6 Jun 2007)

TDON

Previously I got a diamond ring valued in Weirs, as it was old there was no certification for the diamond and it took over 2 months to get the valuation. It was also stated that they do not insure the rings when in their possession

You will also see that in the following post the same was experienced by others.

http://www.askaboutmoney.com/showthread.php?t=32511&highlight=weirs


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## TDON (7 Jun 2007)

MonkeyFeet said:


> TDON
> 
> Previously I got a diamond ring valued in Weirs, as it was old there was no certification for the diamond and it took over 2 months to get the valuation. It was also stated that they do not insure the rings when in their possession
> 
> ...


 
O.k. fair enough. Guess for once, I've been lucky!!!


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## ClaireC (11 Jun 2007)

Hi Dawnsurprise, I had similar problem, we bought my ring from the US and it had valuation in dollars which was not accepted here for insurance purposes - I wanted though to know how much it was worth too. Had a lot of trouble finding somewhere to value it - I'm not in Dublin - but in the end took it to H Samuel and they send it to a company called Safeguard in the UK who value it and then put a unique safety mark on it and add it to databsae so if its stolen or goes missing and then turns up you can prove its yours. Altogether it took just under two weeks I think.

Insurance-wise I'm in rented accomodation at the moment and therefore don't have or particularly want contents insurance - however as the ring was valued here at over €10k I did want to get it insured. In the end I e-mailed FBD and they said would cover it on its own, the girl in there tried to go back on this when I went in but they did cover it in the end. Basically they said they needed an existing customer number as we needed have some existing business with them, so I gave them fiancee's parents details as their insurance would be with them. It won't be on their policy and will be incured at our own address and nothing should go out to his parents or appear on their correspondence just needed it for reference so I presume you could do the same if you knew someone with FBD. Oh and the quote came out at about 1% of value, not sure if this is pretty standard.

Hope this helps a bit.


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## dawnsurprise (15 Jun 2007)

thanks a mil


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## sandrabing (23 Oct 2007)

1234 said:


> Does anyone know where I can get a valution on a ring bought abroad in the Galway/Roscommon area?


 
In Galway, Park Jewellers beside Debenhams will value it onsite but it takes a few days. Fallers Jewellers will do it too but they will have the ring for approx 2 weeks because they are so busy. Anywhere else in Galway I have tried either dont do it any more or only deal with their own stock.


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## Megan (24 Oct 2007)

bacchus said:


> Valuation required?
> It depends on the value of the ring... some insurance company, (e.g. hibernian?), will not require valuation if items is less than certain amount, (e.g. €10k).
> 
> Not sure about insuring it without having any other insurance..



Are you sure that is correct? I have my house insurance with Hibernian and I had to get my engagement ring valued before they would include it on my policy. My ring would be less than €10k.


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## bacchus (25 Oct 2007)

Hi Megan,
No, i was not 100% sure about it when i wrote it, hence "e.g. Hibernian *?" *followed by question mark.  So, now that you asked, i checked more carefully...We used to be insured with Hibernian but now we are with Royal & Sun Alliance.

Royal & Sun Alliance is the insurer that does not require valuation for so-called "Specified High Risk Items" costing less than €10k..though you will need to show an invoice in the event of a claim i guess.


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## GA001 (28 Oct 2007)

Take out an all risks policy - no home insurance required.


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## DirectDevil (4 Nov 2007)

A small point. 

Are there any customs/excise/VAT/other obligations to be complied with where you "import" a ring ? If so, get that sorted out too as it could cause a problem later if there is ever a claim.

Case law : Geismar -v- Sun Alliance. It was an English case. As far as I remember the claim related to loss of jewellery which was irregularly imported into the UK and the insurers did not have to pay.


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## John Rambo (7 Nov 2007)

DirectDevil said:


> A small point.
> 
> Are there any customs/excise/VAT/other obligations to be complied with where you &quot;import&quot; a ring ? If so, get that sorted out too as it could cause a problem later if there is ever a claim.
> 
> Case law : Geismar -v- Sun Alliance. It was an English case. As far as I remember the claim related to loss of jewellery which was irregularly imported into the UK and the insurers did not have to pay.


 
Only from outside the EU, however how does an insurance company ascertain where a ring was bought or made? Or if duties were paid?I think that's a red herring


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