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North Dakota, USA | If you schedule (itemize) a ring on your policy, it will cover a lost stone or the entire ring if it is lost. Most of people do schedule them. Another advantage is you can set a lower deductible for just that item. You are also charged a seperate premium for that item. My wife lost her ring last year. We did have it scheduled and it was replaced by our insurance.
If it is not scheduled it is covered for theft but not if lost. In the case above, it is not the insurance companies fault it was not scheduled. It was probably because the people did not want to pay the additional premium to cover it or their agent didn't do a good enough job of explaining why they should . None of the companies I work with would cover a lost stone if the ring is not scheduled.
FYI, if you have a $5000 ring it probably costs $50 give or take a little per year to cover it.
Eric in ND | |
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Why I don't have a diamond in my wedding set
