Single Item Travel Insurance

chrisdraper85

I'm sure this is a situation somebody must have had before. I am taking my girlfriend to New York later in the month, and while I am there, I am going to propose.

It's all been planned to perfection - until the jewellers reminded me to make sure that my travel insurance would cover the value of the ring... Of course, it doesnt (in fact, it only covers items up to £200, which doesnt even cover my iPod!). Cue mad runing around trying to insure it!!

Does anyone know of a way for me to insure the one item, for the duration of the trip? I've saved for months for the ring and would be devastated if it went missing.

If anyone has come across any kind of single item travel cover then can they point me in the right direction - i'll have to buy it over and above our travel insurance as it will have to be secret from my girlfriend!!

Thanks

bpc101

First off congratulations on your proposal I hope it all goes well!

Most travel insurance companies don't insure single items like this because they are covered with your household insurance. Depending on the value of the ring I would see if it falls inside your single article limit with that and if not then just get it added to your household policy, you will want to do this anyway if it is over the single article limit anyway!

chrisdraper85

Thanks for the quick reply!

At the moment I dont have access to my home insurance but would be surprised if it covered items up to the value of the ring. Though you never know I suppose.

Also would this cover me if we were abroad? If we did have to claim, would it be a matter of 'getting creative' with the way we did it i.e. pretend we were at home?

bpc101

No, your items are covered by your household policy where ever you are. I think this comes under the "personal posessions" part of your policy (assuming you have this) as this covers things you take out of the home such as watches, jewellary, cameras, etc.

Due to the high cost of some jewellary you will be best to add this as an addional item (as with any item over the maximum single item limit).

lisyloo

The normal limit for home insurance is £1500 for a single item but that can vary.
If it's a very expensive ring then you will need to add it on.

No you don't need to lie.
If you have the "personal possessions" option then items are insured outside the home (clothing, cameras, sports equipment, ipods etc.).

You could also take extra special precautions.
If I wanted to keep a ring really safe then I would SEW it into a cloth wallet of the internal variety (one that goes inside your clothing on a belt) and maybe even sew the wallet to the inside of clothing.
Yes it's extreme but how much do you want to keep it safe??
Apart from holding you up at gunpoint or knifepoint, then there is little chance of it being pickpocketed or dropped.

This is the sort of thing I mean
http://www.amazon.com/dp/B001M0NWUW?smid=ATVPDKIKX0DER&!!!!!nextag-sg-delta-20&linkCode=asn

They can be uncomfortable if it's hot and sweaty but there are ways to keep things safe and the best way is on your person.

chrisdraper85

Do you know how much adding something like this would alter my premium, in terms of the annual cost?

I have just been looking at at TH March Brokers' website, at their jewellery cover - I could insure the ring alone for £52.50 annual premium:

thmarch.co.uk

In the short term this would be fine (i.e. i dont have to alter the home insurance, which is in my girlfriend's name) and it does cover travel.

Once this expires I could then add the ring to our home insurance I suppose.

bpc101

I understand why you don't have access to the home insurance now

Have a shop around for similar policies the one that you found at TH March, but yes that would be the way to go. I can't imagine that it would cost that much as an extension to your home policy, but if you need to keep it secret until after the proposal then an single item policy such as this would work.

dacouch

Assuming the rings is valued under around £3000 the typical rate is around 1.5% of its value (Give or take). Sometimes you may also have to take out cover for unspecified personal possessions which adds about £20 ish.

chrisdraper85

Thanks everyone - i think the questions have been answered - I'm going to get a quote & go with something like TH Marsh I think.

Now all I have to worry about is her answer!