Any advice on insuring an expensive ring, please??!

[pineneedle]

A friend of mine (honestly - i should be so lucky!) has got a VERY valuable ring she needs to insure. As it is pretty much the only thing of high value she owns, her house contents isn't insured for much, and adding the ring on would hike up her premium extortionately. Does any one know if there are cheaper "stand alone" ways of insuring one-off items like this? Any info gratefully received (I have been telling her how marvellously helpful the MNers are .)

Her best bet would be to get an insurance valuation from one of the big auction houses - they will do a valuation called "Replacement at Auction" which means they will give you a value based on replacing the piece from an auction rather than in a shop- that will be less than "Replacement at retail" - so, her ring will still be insured, but might be more reasonable for the insurance company and not affect her premium as much.

Have just had trouble claiming for a lost ring. Most single items are only payable up to £1500.00 unless you have it insured separately so really she needs to pay the extra premium.Also take photos of the ring.Hope that helps

Thank you both - v useful ideas.
Hope you managed to get it sorted ok in the end, mooshy .

I'd look at different insurers too, the quote can vary by hundreds of pounds!! Its also standard to not insure if not in a safe or being worn. She'll need a professional valuation. Hope she gets it sorted, I'd ask HSBC, or a specialist insurer, people like direct line will usually offer an enormous quote.

If she gets a valuation from her jeweller (or whoever) it can be listed as a separate item on her house insurance policy for a small(ish) increase on the annual premium ... I guess the price of the increase depends on the value of the piece of jewellry.

smallish .. I wish .. my quite, but not so very ,expensive engagement ring costs £26 a month as an extra on house insurance

I've had my ring valued by jeweller and added seperatley to the house insurance.Don't know how much it added to the premium but not much.

Try Hiscox - they are specialists in high value insurance

Thank you all... I suspect, like Twiglett, it's going to cost her a packet, one way or another!
Shall pass on everything you have suggested.

I also have a ring which I have insured seperately on our contents insurance.It's only about an extra £40 ish a year,which I don't think is too expensive.