How much to insure diamond rings for?
October 28, 2011 11:09 AM Subscribe
How much should I insure a diamond engagement ring and a wedding band for?
posted by teg4rvn to Work & Money (20 answers total) 1 user marked this as a favorite
Reassessing my insurance needs I realize I've had the wife's rings insured as a rider on our homeowners insurance, but for what I feel is a too high amount. When first purchased I paid about X and the jeweler then gave us a certificate of "Appraisal" for a value of approximately 2X. So for years I've had it insured for 2X. Common sense would tell me that the replacement cost would be for less than X, otherwise how would the jeweler make money, no? How much should I be insuring the ring for?
FWIW, the main diamond is GIA certified so I do have an objective assessment of cut, clarity, size, etc...