Engagement Ring Advice

[msomnipotent]

I know a number of women who "upgraded" their engagement ring, sometimes years into the marriage. We always found that really odd. I mean if you change it, it's no longer your engagement ring. It's just a ring. There's nothing wrong with getting more jewelry but you only get one engagement ring (assuming you only get married once).

My mom and 2 sisters did that. All 3 got engaged when they had no money and never liked the rings they had. It doesn't make sense to me, either. I never felt the need to get a different one, but mine is just shy of a karat to begin with. My husband bought it because he thought it was mispriced, which it was. The appraisal came in over twice what we paid for it. But I would have preferred an emerald or princess cut rather than the marquis this stone was already cut in.

[disneysteve]

The appraisal came in over twice what we paid for it.

I think the appraisal thing is somewhat of a scam for insurance purposes. We had my wife's ring appraised and it also appraised at double what we paid. And I've heard many other people say the same. I don't think the appraisal is meant to truly reflect what the ring is worth.

[PeggyHefferon]

I bought wifes ring at jarrod. I think the plan was $60...wasnt sold as an extended warranty though. It was for unlimited resizing and refinishing. They guarantee the diamond...meaning if you get it inspected twice a year and the diamond falls out they'll replace it for free. Once a year she gets it refinished...so when it starts to look dull or whatever a refinish makes it look new again (its different than a simple cleaning.)

Not sure if she would have done it if it costs $200. That seems like a lot.

Quoting your post for relevance.

One of many things I can't stand is a blanket statement. Everyone has their opinion, which is fine, but it is really annoying when their opinion is not much more than a blanket statement. Not worth it. Rip off. Etc. etc.

Although my DH did not go to Jarrod, which I was very happy about since I hate their commercials, he did buy my ring at a big name chain. And like the warranty that Rennigade references, my warranty includes the cleanings and most importantly guarantees the diamond.

During one inspection, a prong was broken and one of the diamonds was barely staying in place. About a year later I had to take the ring in and have one of the diamonds replaced that got lost because of a broken prong. I really don't know how much the insurance cost, but it was definitely no rip off or worthless.

[disneysteve]

I really don't know how much the insurance cost, but it was definitely no rip off or worthless.

Well it's not a rip-off. It covers exactly what it says it covers. That's legitimate.

The problem with extended warranties is that they usually cost way more than they're worth. Or you are paying to insure against something that is very unlikely to ever happen.

Good insurance costs a tiny percentage of the policy value. You can get a $100,000 life insurance policy for about $300/year, for example. Compare that to the policy in the OP which is $200 to cover a $2,500 ring. Just skip the warranty and put $200 into your savings account every month. In a year, you'll have about enough to replace the entire ring.

As I said earlier, just because one person came out ahead on a warranty doesn't make getting them a good idea.

[rennigade]

And like the warranty that Rennigade references, my warranty includes the cleanings and most importantly guarantees the diamond.

Maybe I said that wrong. Jared guarantees the ring even without the warranty...as long as you get it inspected by them every 6 months.

Their $60 warranty pretty much only covers resizing and replating I believe.

[rob62521]

I'm weighing in...I would say not to get the extended warranty. It sounds like a deal, but if your beloved takes good care of the ring, you shouldn't need it. Most places will clean it for free and check to make sure the settings are OK. My advice is not to wear it when doing chores or housework so it doesn't get knocked around. I take my rings off when I get home so I don't damage them. I didn't used to and did have to have a prong fixed, but it didn't cost $200.