Insuring a ring

[doodah]

Trying to insure a recently purchased ring. Took out a policy with Protect Your Bubble (PYB) but upon picking up the ring, they gave me a certificate stating how much it's worth - ~£1k more than I paid. PYB say I should stick with the current policy as they will only do what I paid, however my close friend who got his wife's ring from the same place as me has his insured for what they ring is worth rather than paid (through their house insurance).

Unsure what's the best way to proceed. I live in a rented apartment with 3 others so have my own contents insurance for my room but that's with Endsleigh. As I only took out the PYB policy yesterday - I should be able to cancel the policy with no hit?

Any tips? Go with a dedicated policy for the ring or extend my current contents/take out a new contents and add the ring to it?

 

[doodah]

Amount of chili I have eaten in my lifetime, I am well past that now

 

[doodah]

Home content insurance almost always has a separation clause for valuables above a certain amount. I'm not familiar with your room contents insurance policy - or more to the point, the many carve outs from a normal agreement which may apply - but I'd probably start there and work up.

What ballpark figure are we talking about for the ring?

I paid £2.3k but the valuation is around £1k more.

Aren't Endsleigh more of the basic variety/aimed at students and young people? Haven't had a chance to look into their options but get the feeling I won't get far. I do bank with Barclays so that might be an option.

 

[doodah]

Insure for it's value. If you got given the ring by someone, would you insure it for £0 as it was nothing or for the value it's now worth?

True, I have requested PYB cancel my policy.

 

[doodah]

Yep, Endsleigh are too basic. I have cancelled and will take out another contents insurance to include the ring (hopefully Barclays).

 

[doodah]

Tell me this is a ring for a lady friend. Why would a man be wearing a ring costing £2k+??

Walt, are you a rapper?

Make it a named item on your contents. I assume this is some sort of gaudy prince albert we are discussing?

I must be slow today as I don't understand the both of you . It's an engagement ring for my girlfriend

Any recommendations for contents? Barclays look like a no go...

• Valuable items – up to £20,000 with a further £20,000 available for individual items worth over £2,500 each (only when they're in your home – choose personal items or gadget cover for protection out and about)

 

[doodah]

Hiscox are excellent but may be OTT for what you need

they will taylor to your needs, mine doesn't need individual items under 15k specifying for at home or away

I think their basic is £25k total valuables with a 7.5k item limit but not sure

They won't give me a quote

I can do Barclays contents + personal items for either ~£120pa or ~£170pa, the latter including accidental damage in the contents.

 

[doodah]

Ta duck

 

[doodah]

PYB cancelled, just seeing if I can beat the quotes from Barclays - otherwise I will go with them. Seems silly taking out 3 separate policies with them though; I will have gadget, personal and contents.

 

[doodah]

Yeah caught me by surprise, especially £1k difference. At first I thought it was that 'original price' scam shops like to do to make the sale discount look better, then I thought they were trying to make themselves look better/me feel better about it .

Apparently I have to quote the price as part of my dowry - I know which figure I am going with

 

[doodah]

Well this was a worthwhile exercise. I thought I had notified my previous contents insurer of my move in August (received a confirmation email around that time), turns out I hadn't so had no contents since August

Gone with Barclays, however I am trying to register and got this....

Why would Barclays hot have a secure connection?

 

[doodah]

This is very confusing. The email I got from Barclays asks to register but the link you copy and paste takes you to a general Barclays insurance page and the only 'register' button tries to register you with their online banking.

And if you Google Barclays MyPolicy or followed the link I had earlier (screen shot above), it takes you to the page (3rd party) that doesn't have a secure connection.

 

[doodah]

Not sure what happened there but Chrome is now OK with it (also with Aviva). Damn straight I am not entering details without a secure connection (some rip off BTC trading site tried to con me recently and their site looked dodgy as hell and didn't even have a secure connection - just what you want with money/BTCs).

Sorted. More comprehensive contents, ring insured. Now I just have to propose