# Insuring engagement ring - living in rented accommodation



## ClaireC (6 May 2007)

We recently got engaged and bought the ring from a US based website. We then had it valued here and it was valued at over three times what was paid for it. As we are living in rented accomodation I believe it can be difficult to get insurance cover for household contents, and to be honest as we are renting a fully-furnished flat we would not really have much contents worth insuring, other then tv, dvd player etc which would all be replacable. However we obviously would really not like to take any chances with the ring, so does anyone know of any company which would just insure jewellery? Even the websites I have checked for household contents insurance, if we had to go down that road, seem to have quite low limits in terms of value when it comes to insuring jewellery - as the valuation put it at over €12k they seem to cover only some of this.

Would be very grateful for any tips / suggestions.


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## dee06 (8 May 2007)

Hi 
AFAIK you'd have to cover it as part of contents insurance under the 'All Risks' cover to have it covered outside the house for loss or theft. 
I don't know any companies doing jewellery by itself  without it being part of contents insurance.
Most companies will cover a ring worth €12k all risks if you send them the valuation document. 
Eaglestar and Royal and Sun Alliance do contents only insurance for tenants. 
Failing that you could try covering it under a parents policy but it's really better to have the insurance in your own name. You might as well cover your contents anyway. Imagine if you lost all your clothes, bedlinen, crockery,CDS and personal possessions in a fire or water leak? It would probably cost a lot to replace.


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## 01DMB (9 May 2007)

Hi Clare
Sorry to go off the subject but can you tell me the website where you bought the ring.
thanks in advance


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## jrewing (9 May 2007)

Would you not save a lot on insurance if you insure it for the lower, original cost? If you was stolen, you would more than likely use the US website again, rather than paying an Irish jeweller 3 times as much.
Am I right ?


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## NHG (9 May 2007)

Put it onto your parents house insurance under the "All Risk's" section to cover it at all times and then when you get your own insurance policy you can transfer it to your own.  (not an insurance expert, but it is what we done years ago).  

Congratulations on your recent engagement and enjoy wearing the ring.


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## ClaireC (9 May 2007)

Hi and thank you for the replies.

jrewing - The reason we had it valued, other than curiosity, was that I had heard that insurance companies would not accept a valuation document from the US and stating the value in dollars, and that we would have to have one in euros in order to get insured, although this might not be correct. I'll get onto insurance companies and see if they will accept the valuation in dollars.

NHG - As I'm not living in the same city as my parents I'm not sure I could put in on their contents insurance - in order to do so would I not need to state that I was living there? Maybe not, but I thought that if it was on their home insurance there would probably be some clause that the ring should be there most of the time, will look into it anyway thanks, and thanks for the congratulations!

01DMB - The website we got it from was diamonds-usa, they were very helpful. We were unlucky in that we did get caught for customs which was a bit of hassle but even so after paying the VAT and duty it cost a third of what it was valued at.

Thanks again for all the help.


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## nestegg (10 May 2007)

Hi ClaireC and congrats on the pending nuptials!

You are right with regard to having the ring covered under your parent's home insurance. As they do not have an insurable interest in the ring they cannot insure it. If you lived at their home then their insurer most probably would add it on.

With regard to arranging your own policy: as long as their is only one tenant in the apartment (be it an individual/couple/family) you will be able to buy contents only cover from AXA, Royal & Sun Alliance or Eaglestar. Any of these policies will cover your ring under the 'All Risks' section but the valuation must be in '€'.

Regards,


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## elchanco (21 May 2007)

buying a ring off a website...hahah...could of saved me weeks of pain looking in shops for "the perfect ring"....


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