diamond ring insurance

nellzbob

can any one help i want to insure my new diamond ring but my household insurer wants to charge me £16 a month which seems very high any ideas?

jem16

T.H March specialise in jewellery insurance.

My son had a quote recently for the engagement ring he bought his fiancee - worked out at £53 annually. Very good cover too.

http://www.thmarch.co.uk/Solutions/index.xalter

Oscar_The_Grouch

Hi there. It's very hard to give you advice without knowing the value of the ring. Have your insurers included some kind of admin charge? That could be £2 or £3 of the monthly amount they are stinging you for.

If the insurer are charging you £16/month, I assume we are not talking about a "nice" £2,000 ring but something a bit more substantial. On that basis, I would recommend you look closely at who you are insuring with and whether the cover they are providing is adequate. You may want to look at the mid to high net worth market where they have higher single article limits.

Most of the banks have a mid/high net worth offering. Barclays use NU, LTSB use Sterling and Nat West use Aon to broker the business. An insurance broker would have access to companies like Zurich Private Clients and I'm pretty sure all of the above companies will be able to offer you something.

I know for a fact that at least 2 of the above have policies with limits for unspecified personal possessions of £5,000 so unless your ring was worth more than that, you wouldn't even need to specify it.

The advantage of the mid net worth market is that you get better cover than you would through the likes of Budget, but you pay for what you get.

I suggest you at least get a quote from one of them.