How do you insure a wedding band?

You call whatever company you are using for homeowners' insurance or renters' insurance, and ask for a rider for the ring.

I don't have either of those types of insurance. Is there another way?

I would highly recommend getting the applicable type of insurance and adding the ring rider. It's incredibly risk not to have them.

Contact the insurance company that insures your car. Most of them also have homeowners and/or renters insurance. They may have an option for you since you don't have renters. If your company doesn't do any, try State Farm

I don't have a car either because we live in NYC. We don't have renters insurance because it's covered by our current landlord who owns the apt.

Are you sure that your landlord's insurance covers you? It's pretty rare for it to do so--usually it only covers the physical building, not the contents.

I know it doesn't cover us, it just covers the apt. It just costs so much up here in the city that we discontinued ours because we had to keep moving which was creating more issues. We'll be moving yet again in August.

Oh, I almost forgot. There's also a chance that the husband and I will be going on tour starting in August and lasting almost a year in which we [obviously] wouldn't have the renters insurance any more.

Not trying to be difficult, just trying to find my options.

Renters' insurance averages between $200 and $300 a year in NYC--that's definitely more expensive than a lot of places (we pay about $120 a year in Madison, WI), but it's still not a whole lot compared to the cost of replacing all your belongings.

State Farm will also refund you the difference if you discontinue coverage before the year is up--they did that for me last year when I switched onto DS's policy.

Regardless, you could call them and ask if they would do a policy for just the ring--and if you do, I'd ask about renters' insurance. I've just known a lot of people who lost possessions to fire and theft who either had renters', and were very glad that they did--or didn't, and were super sorry that they didn't.

Uh, you still need renters insurance. Your landlord covers insurance on the building, but YOU need to cover your contents and liability.

Trust me, paying the premium for insurance (it is based on the amount you choose for your contents and liability coverage) is far cheaper than suffering a loss and not having insurance.

I will give you a real life situation. I own a condominium in a 20 unit HOA. My neighbor caused a fire that destroyed his unit, the one between his and mine; damaged my unit as well as the one on the other side of him. Right now, damages are estimated at $1.4 million. If he does not have sufficient liability coverage, not only will the three insurance companies involved go after him, personally, those of us who suffered a loss may as well. You can not get out from under an insurance judgement. So, this 40 year old mans life is pretty much over, financially. I doubt that he carried a $1.5 million liability limit.

If you don't have a renters' or homeowners' policy, there is an alternative way to insure your ring: Certain insurance companies offer policies through jewelers on individual pieces -- ask your jeweler if they work with an insurance company to offer ring insurance. These kinds of policies can vary widely company by company (usually a jeweler will offer a policy that's underwritten by smaller company), so ask specific questions about the level of coverage provided.

Genenrally its relatively inexpensive to do. I added mine to my homeowner's policy...now the cost (roughly $100 a year in MD) may be due to the fact that I have a home and car policy with them but please get them insured!

Nost renters insurance doesn't cover engagement rings. They only give you a jewelry allowance for all of your jewelry. What you need is personal property insurance.

Homeowners/renters insurance has a small amount of jewelry coverage. You can add an endorsement to increase that amount. It is relatively inexpensive.

Here is a good article about renters insurance. The article also talks about the way you can insure your property. Actual Cash Value (ACV) or Replacement Cost Coverage . Truly, you want Replacement Cost, otherwise you may be out a lot of money in case of a loss. For instance, in my recent fire, they "totaled" my bed. I have a king size bed that I bought 18 years ago. ACV, it was now valued at $89. But the replacement cost my $1200. Insurance paid the $1200 as I had Replacement Cost, otherwise, they would only have paid me $89 and I would have been out $1111. Ah, you can see the former insurance agent in me coming out. LOL!

http://moneycentral.msn.com/content/collegeandfamily/moneyinyour20s/p36957.asp

Www.jewelersmutual.com Number one jewelry insurer. They insured my engagment ring for only $64 a year. It covers theft, damage and even mysterious dissappearnce. Don't even hesitate. Do you have an appriasal for your wedding ring?