Jewellery insurance

[Naetha]

I've just inherited two engagement rings from my grandmother, one valued at £1350 which I don't wear and is kept in a box at home, and one at £3850 which I now wear.

The one with the lesser value is covered by my home insurance (undeclared limit of £1500) but the more valuable one would only be insured when I'm at home if it's covered by my home insurance.

Is it worth getting it covered seperately by jewellery insurance so that it's covered if a diamond falls out or I get mugged?

This cover would cost £65 a year which I can just about afford, but it's another unplanned expense. I could of course not wear it, but as my wedding ring no longer fits due to weight loss, I like to have something of personal importance on my finger.

Any ideas, or should I just stump up the £65 a year or put it away and shut up?

I'd have thought it would be cheaper to cover the more expensive ring with your home insurance as an named extra item rather taking out a separate policy. Have you spoken to your home insurer?

Some insurance companies won't take a named item of over £x on their policy, regardless of whether it is specified.
We found it cheaper to actually change insurance company when in a similar situation, got better cover for the same money in the end. It is worth shopping around.

Mine is insured for a bit more than that through our house insurance (Barclays) whether at home or out of the home - can you add that element to your house insurance without taking out separate insurance entirely?

Mine is a named item on my house insurance with Sainsburys.

mine is named item with my insurer but due to value (6k) we do have limited choice as some insurers wont insure us. We have been with morethan (rsa) and aviva with no problem though

if you cant really afford to insure and will keep it in a box maybe consider selling it and buy a new ring that is under the typical value? i know if its sentimental then perhaps this isnt a consideration but i am sure whoever left it to you wouldnt want you paying out on it.