Best way to insure ring?

[soc]

This might sound like a bit of a stupid question, but does one go to insure a ring?

I don't have house/contents insurance... so I can't put it on that. Any suggestions?

Thanks.

-soc

 

[ClubMan]

I presume you don't have house insurance because you rent or something? But have you decided that your risk factors don't justify contents insurance or something?

 

[soc]

Yes, my risk factors don't justify contents insurance. But I would like to insure my newly acquired ring. Any suggestions?

 

[ClubMan]

Does the jeweller where it was purchased offer an insurance service? I suspect that the premiums on such a single item policy may end up being a significant portion of the original purchase price in which case you might be better off "self insuring" by saving the money that would otherwise go on premiums in case the worst should happen. Also, weight up the risks involved and the likelyhood of the ring being lost and stolen before deciding that you need insurance. It seems to me that insurance policies are sold and bought for all sorts of things these days regardless of the cost (e.g. total premiums versus replacement cost) and risks (e.g. insuring for unlikely or non catastrophic events) involved.

 

[Ravima]

Where do you live? Not that I particularly want to know, but if you live with your parents at their home, you could always include it on their house insurance policy.

no point in doing that if you do not live with them, as if insurers find out, and they have ways of doing so, and a claim is made, then the claim may be legitimately refused. You could also face having the policy cancelled and that can cause problems if you need to take out a policy in your own name.

 

[Joe1234]

Yes, my risk factors don't justify contents insurance. Any suggestions?

what risk factors don't justify contents insurance? Why do you feel you might be less at risk than anyone else? Do you think your power might not go out and ruin your freezer contents, or do you think pipes may not burst and ruin carpets, furniture etc.?

 

[soc]

what risk factors don't justify contents insurance? Why do you feel you might be less at risk than anyone else? Do you think your power might not go out and ruin your freezer contents, or do you think pipes may not burst and ruin carpets, furniture etc.?

Not trying to be nit picky... but all I want is a simple answer. Not the 3rd degree. If people don't have a suggestion or answer to my question - then that's fine.

I posed a question, and stated the fact that I don't NEED contents insurance... I don't need to be questioned on why I don't HAVE contents insurance or why I THINK I don't need it. All I'm asking for are suggestions on how to insure the ring (i.e. alternatives to the 'include in house/contents insurance' answer)... that's all.

you might be better off "self insuring"

Thanks Clubman. I was thinking about doing that... but I just wanted to 'shop around' and see if there was an alternative.

-soc

 

[LDFerguson]

I don't think you'll get any insurer to insure a ring in isolation, unless the said ring is of huge value. I think the only options available to you have been outlined above - (a) insure your contents including the ring - €15 per month or so, (b) include it on the contents insurance policy of your residence if applicable or (c) self-insure.

 

[Joe1234]

Yes, my risk factors don't justify contents insurance. But I would like to insure my newly acquired ring. Any suggestions?

soc,

You made the above statement. All I was trying to do was find out your reasons for thinking that you don't need contents insurance. I was not trying to undermine your original question, just satisfy my own curiousity. I apologise if you took offence at that.

 

[patro]

Does the Jeweller not have some form of scheme affiliation to allow you cover the ring for the first year? What about "gifting" it to the mother and insuring it under her policy. You could then borrow it