Looking to Insure $20K Engagement Ring... Please Help!

[scagnt83]

How many carats is a 20k ring?

Depends on the quality of the diamond. A 0.5 carat flawless could cost just as much as a 3 carat thats cloudy.

If you shopped around you could easily get a nice 2-2.5 carat for $20k.

On a separate note; diamonds have become a very hot investment item for the wealthy recently. Flawless & Near Flawless diamonds have shot up in value over the past few years.

 

[timamr]

What woman is worth a $23k engagement ring? At that price, you must be prepared to pay $50k for the wedding ring! Geez....just give me a pizza and 12 pack of Bud and I'll be happy!

 

[xrac]

A ring that appraises for $23,000 will cost you about $10,000.

 

[senior-advisor-indiana]

A ring that appraises for $23,000 will cost you about $10,000.

I told my wife that her $1500 ring appraised at $23,000.

 

[djs]

Now you understand why its hard to insure jewelry for cash value!!!! The value of the jewelry varies dramatically at the retail level.

This is why certified appraisals are important.

And SAI, if you paid $1500 for a ring that you said was worth $23K, you probably got ripped off. You should use at least a factor of 20:1, making the your appraisal of the ring at least $30K.

Dan

 

[senior-advisor-indiana]

Now you understand why its hard to insure jewelry for cash value!!!! The value of the jewelry varies dramatically at the retail level.

This is why certified appraisals are important.

And SAI, if you paid $1500 for a ring that you said was worth $23K, you probably got ripped off. You should use at least a factor of 20:1, making the your appraisal of the ring at least $30K.

Dan

It was the crystal clear kind too. I think it's called cubic zirconium...

 

[tiamat]

Just get a $20,000 life policy on yourself because when she tells you it went missing she'll at least have the ring.

 

[terracore]

My wife's ring is insured by USAA. We did the process many years ago so the details are faded but I remember having to provide them with a gemologist report and an appraisal. Be prepared for sticker shock when you see how much the policy is going to cost you... we've thought about canceling it many times since we moved away from a high crime area and still are considering it.

 

[xrac]

My wife lost the diamond on one of her rings and insurance replaced it. I am keeping our coverage.

 

[Life Underwriter]

My wife's ring was purchased for ~$20,000. I have it, along with about four other jewelry pieces of hers insured through Jeweler's Mutual in Wisconsin.