Renter's Insurance + Ring Insurance - Is it worth it?

[GrumpyPenguin]

I'm a bit surprised what folks pay for renter's insurance here.  I am required to have renter's insurance for the apartment I lease, and I pay about $105/year total.  Yeah, the deductible is a little high, but being that the likelihood of needing to use the insurance is close to zero, I don't care.

[Erica]

I recently purchased Renter's Insurance with a ring rider policy on my wife's engagement and wedding band. I'll need to look at the specifics, but it costs around $270/year and covers up to $20k on the Renter's Insurance and $10k on the ring with a $2000 deductible.

I did this for the following reasons:
1). I don't live in a great area of town and I travel ~month per year so the renters insurance covers me in the case that someone breaks into the house and cleans me out. It also makes me feel at ease when I am out of town knowing I am covered.
2). My wife's rings are expensive and it would be terrible if they were lost or the stones fell out.

Does anyone else purchase Renter's Insurance or Ring Insurance?

Sounds like you got a great deal. Renters insurance is one of the few insurance left worth it to buy.

Yes we paid for it when we sold our house and moved here into this rental. We moved to care for his parents, live down the street. It was much cheaper than we expected. We have no ring insurance, that doesn't make sense to me but whatever. If you are that worried, I'd find a book or somewhere to store the ring in so if someone does break in, they won't find it. I wouldn't store any expensive ring in a jewelry box.

[HenryDavid]

Worth keeping in mind that the hassle of actually getting an insurance company to honour your claim can be enormous. Minimize the insurance, keep it to the value of what you can't live without. Self-insure with savings where possible

Cause it won't be easy to pry the dough from the insurer's tight grip.

[HenryDavid]

Worth keeping in mind that the hassle of actually getting an insurance company to honour your claim can be enormous. Minimize the insurance, keep it to the value of what you can't live without. Self-insure with savings where possible

Cause it won't be easy to pry the dough from the insurer's tight grip.