Engagement Ring Insurance

zoezoe64

I wondered whether anyone could help me, I've recently got engaged and want to ensure my ring as it's worth about £5000. I can't put it on my home insurance so I am looking to take out a jewellery insurance I guess - does anyone know of any good insurers?

Thanks for your help!

marathonic

zoezoe64 wrote: »

I wondered whether anyone could help me, I've recently got engaged and want to ensure my ring as it's worth about £5000. I can't put it on my home insurance so I am looking to take out a jewellery insurance I guess - does anyone know of any good insurers?

Thanks for your help!

Why can't you put it on your home insurance? Is it something to do with previous claims or your home insurance provider themselves? If it's to do with the provide, switching upon renewal is probably your best option.

InsideInsurance

Most insurers allow you to add items up to £5k with no problems. Some you dont even need to add items under £15k as they are covered automatically.

Generally your home insurance is the best place and by far the cheapest. To cover the wife's jewellery under a standalone policy is more expensive than to cover it and our other c£60,000 of items for all risks under home insurance.

zoezoe64

marathonic wrote: »

Why can't you put it on your home insurance? Is it something to do with previous claims or your home insurance provider themselves? If it's to do with the provide, switching upon renewal is probably your best option.

It's because of the alarm we have, we don't renew until April and I want to get it insured before then.

phill99

zoezoe64 wrote: »

It's because of the alarm we have, we don't renew until April and I want to get it insured before then.

What has the alarm got to do with it? Is it a condition on your policy to have a particular type of alarm?

InsideInsurance

Would be unusual to have an alarm requirement just for a 5k ring, as I say, some insurers now cover over 10k items without the requirement for them to be even named let alone trigger any requirements for safes or alarms etc

greyteam1959

When you say 'worth' £5000 do you mean you paid £5000 for it or have you had it valued at £5000 ???

Faith177

It depends the need to have a alarm over a certain amount of contents insured is a clause with some companies. If the value of the ring is taking them over the alarm threshold they will have to have it

zoezoe64

Faith177 wrote: »

It depends the need to have a alarm over a certain amount of contents insured is a clause with some companies. If the value of the ring is taking them over the alarm threshold they will have to have it

Our household insurer won't insure it unless we get a certain type of alarm. It is valued yes - I was just wondering whether anyone had suggestions for insurers that would just insure a piece of jewellery. Thanks for your help anyway

InsideInsurance

http://www.thmarch.co.uk/ is one of the most commonly suggested options (not a personal or professional recommendation)

From my experience it is not cost effective.

Out of curiosity, who are your current home insurers?