Direct debit for engagement ring

Pablo -
Would you think of going to Jersey for the ring - it is tax free. I have Family in Guernsey and the Jewellery even in stirling is possibly half what you would pay in Ireland...
ANd flights are cheap as well..

I think that you could get a lovely ring for 3000. Your girlfriend might not find it too romantic if you pop the question with a much cheaper ring and tell her you will upgrade it in a couple of years. I'm sure she would love whatever you buy her for 3000 and will not want to part with it, even if you can afford a more expensive one in a few years. Sentimental value and all that.....

Good to know that some people have a clear idea of the monetary value they put on "love".

Hi all,
Just an update to tell yee that i (in the last week) got the top up that i asked for on my mortgage, cleared off all yes all my loans, cc debt and had some left over to buy the engagement if needed so...... Well i went down on one knee at the weekend and asked her for her hand in marriage and the silly woman said "yes".... i am now a happy man.
We went to the city yesterday and after shopping for 5 hours for the ring of her dreams...... We found it. Once herself was happy and all i started to bargain with the manager of the store and knocked €350 more off the price. So i will be paying €2700.
The ring has been taken away now for a re size and i have to collect it in 2 weeks time. What next do i do ?
Do i get it valued ?
Do i get it insured ?
I would like to know the correct procedure after purchase...
thanks
pablo94

Firstly, congratulations on getting engaged!! You must be both thrilled.
Re. when you pick up engagement ring ask for a valuation letter for your house insurance. The next step is to ring your insurance company to have the ring added to your house policy but request All Risks cover which would provide cover away from the house. The cost is generally EUR1.50 to EUR2.00 per EUR100 value of the ring. The may ask for a copy of the valuation. Congrats again.

decembersal said:

The cost is generally EUR1.50 to EUR2.00 per EUR100 value of the ring.

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Paying c. 2% p.a. of the value of an insured item seems crazy - why not just save the money and put it towards repair/replacement if something untoward happens especially if you assess the risk of such an eventuality being low?

So clubman... are you saying not to insure it and but a few quid aside for repair/replace ?
pablo74

I think insurance for an enagement ring makes sense-the risk of loss or theft may be low, but is not remote. 2% p.a. is not excessive in my view-especially when the ring is new. I'm pretty sure that if my fiancee were to lose her ring she would be devastated-and coming up with a like for like replacement out of our own pockets would be a double whammy-it's not the sort of thing I can see her being without.

Each to their own obviously, that's my 2c.

My g/f works and lives in Dublin at the moment...... she is getting the ring soon so on who's insurance should the ring go on ?. She is a half owner of an apartment in Dublin.
Pablo74

Pablo74 said:

My g/f works and lives in Dublin at the moment...... she is getting the ring soon so on who's insurance should the ring go on ?. She is a half owner of an apartment in Dublin.
Pablo74

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It should go on the contents insurance of wherever she lives. Mine is on my contents insurance - only cost around 35/35 euro a year extra to put it on as a named item.