# Engagement Ring Insurance



## aine.bolger (12 May 2008)

Hi, I just got engaged, and i have a very expensive diamond, platinum ring that my fiance bought in Dubai. 
I dont have an issue valuing it i hope as i have all the diamond certificates etc, however, how do i go about getting it specifically insured. I live in rented accomodation.
Do i need contents insurance, can i get personal insurance and specify this ring?
Any advice, as i hate not being insured while i have it!

Thanks


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## ailbhe (12 May 2008)

You'll need to get contents insurance and specify the ring on it. Try online/brokers/direct company.
The ones I can think of off hand who do contents only are Eagle Star, Royal and Sun Alliance and Allianz. I'm sure there's more but can't think of them.
Check out the link http://www.askaboutmoney.com/showthread.php?t=8713


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## John Rambo (12 May 2008)

My home insurance policy is with Hibernian and when I contacted them to add the engagement ring they insisted we put in a safe and our premium was going to jump by 100%. Probably stupidly, I haven't bothered doing it.


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## addob (12 May 2008)

I had a similar experience with regards to my ring and Hibernia, when the time came I didn't go with them but went (via 123.ie) to Eagle Star.

Congrats btw!
ad


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## bacchus (13 May 2008)

John Rambo said:


> My home insurance policy is with Hibernian and when I contacted them to add the engagement ring they insisted we put in a safe and our premium was going to jump by 100%


 
I am very surprised to read this as this is not my experience with them. Insurance charges for specified high risk items are a % of the insured value, anywhere from 0.75% to 1.5% depending on item and value.


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## csirl (13 May 2008)

Mrs Csirl has hers on the house insurance and the premium is reasonable. Most insurance companies will need a written valuation and photo if in excess of 10k. Valuing it shouldnt cost that much - if you have the purchase receipt, it may suffice, otherwise most high street jewellers will do it at modest cost.


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## foxylady (13 May 2008)

aine.bolger said:


> Hi, I just got engaged, and i have a very expensive diamond, platinum ring that my fiance bought in Dubai.
> I dont have an issue valuing it i hope as i have all the diamond certificates etc, however, how do i go about getting it specifically insured. I live in rented accomodation.
> Do i need contents insurance, can i get personal insurance and specify this ring?
> Any advice, as i hate not being insured while i have it!
> ...


 
Try Fbd, they are quite reasonable. I ma in same position myself and just recently got contents insurance with them for approx 70 euro , when i mentioned the ring though we had  to pay another 25 euro but thats just to make sure its insured outside the home as well


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## Megan (13 May 2008)

bacchus said:


> I am very surprised to read this as this is not my experience with them. Insurance charges for specified high risk items are a % of the insured value, anywhere from 0.75% to 1.5% depending on item and value.



Same here. My house contents insurance is with Hibernian. I had to get my engagement ring valued and I did have to pay something extra to have it added to the insurance.


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## truthseeker (13 May 2008)

Megan said:


> Same here. My house contents insurance is with Hibernian. I had to get my engagement ring valued and I did have to pay something extra to have it added to the insurance.


 
Same experience here, they charged me something like 35 euro or thereabouts extra to add it to my contents insurance.


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## Ravima (13 May 2008)

They probably charged you extra for 'al lrisks' cover, which covers the ring for loss or damage anywhere in the world, rather than simply adding it onto your contents policy, where it would have to be either stolen from the  house or burned in the  house. As most women wear the rings outside the house and the chances of it being stolen from within the house are slim, the better cover would always be the 'all risks' cover. Stones come lose, rings get caught in changing rooms when trying on clothes, sometimes you might even take it off in a nightclub (naughty!!) and lose it. 

Companies usually charge 1 to 1.5% of the value of the ring for all risks cover. If it is a high value ring, they might insist that when not being worn it is kept in a locked safe and/or overhauled by a reputable jeweller every so often. neither is a problem. Safes are now cheap enough to install, even alarmed ones and jeweller will look at it ever so often to ensure that the settings have not come lose etc.

most important thing is to insure it anyway.


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