Will My Renters Insurance Cover My Engagement Ring?
16470 POINTSview profileDavid OsgoodAgent, Rural Mutual Insurance Co., Union Grove, WIMuch like homeowners insurance, renters insurance will provide some limited coverage for jewelry stemming from a covered loss. If the coverage amount is not enough within the policy you may have to schedule the ring to get the proper level of coverage. Please read your policy completely to know what coverage is offered and what exclusions there may be or contact your local agent to have them go over the policy with you.Answered on May 25, 2013flag this answer
37376 POINTSview profileDavid G. Pipes, CLU®, RICP®Business Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaA tenant’s policy or renter’s policy covers personal property. Your engagement ring is personal property. A loss is adjusted by determining the current value of the loss or the replacement cost depending on the insurance form being used. The payment is then reduced by the deductible on the policy. In the case of jewelry there is also an internal maximum limit for jewelry in most policies.Answered on December 23, 2014flag this answer
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