Is it worth buying a diamond ring with a “lifetime guarantee” from Zales, Jared or Kay?
February 14, 2010 by admin
Filed under Loose Stones
We are in the process of buying a diamond ring for our engagement and have been doing a lot of research. Zales, Jared and Kay offer a lifetime guarantee on the ring. The guarantee covers repairs on the ring and will reset loose diamonds. They will also replace diamonds that are chipped, cracked, loose or even *missing*. The only catch is that you have to have the ring inspected at one of their stores every six-months (or at least six-months prior to the damage/repair date).
This offer seems a little funny because I’m not sure if it’s worthwhile to get, and I’m not sure how they can control for fraud. I mean, what’s stopping me from knocking a diamond out of the ring and going to the store to say we lost the diamond? And if it’s really that hard to knock a diamond out of the ring, is the cost of the guarantee really worth it?
I also heard that I can list the ring on my home owners insurance and that it will cover the cost if I lose the ring? Is this true and if so, how does this work?
I’ll be dropping a lot of money on the ring so I want to make sure I know what I’m getting myself into and would like to get feedback from everyone on their thoughts and experience with this whole process.
p.s. please don’t post any comments about blood diamonds... I know the issues behind diamonds, but with globalization, I doubt you can buy anything that hasn’t gone through some sort of unethical channel. The clearest example is gasoline, which effects just about everything you buy – just watch Syriana.
Men's Rings
Princess Rings
If you insure your ring, like you’re supposed to do, your insurance will cover any lost stone. So I wouldn’t bother with the lifetime guarantee.
Women’s Fragrances
I don’t have much expertise in the subject, but I wouldn’t do it…they will find some way to screw you out of the warantee…like saying you did something you shouldn’t…and do prefer to make more appointments to your jewelry store over your lifetime than you do your own doctor…if you miss one I bet your warantee would be void and then all that money down the drain…it seems ridiculous. I’m sure the ring would be covered under home owners ins as far as theft or flooding or some other damage is concerned… I would find another way to ins your ring that what they offer in the store.
Well good luck and congrats….
If you don’t mind helping me out too! Thanks…here’s my question
.;_ylv=3?qid=20090628081405AASwqHk
Smoky Eye
You cannot just claim your ring on your homeowners insurance. You have to have a jewelry rider, and it typically only covers the cost over $10K. Make sure your policy covers it specifically!
I had the lifetime guarantee on my ring, and my stone fell out. No one told me I had to have the inspections done, so they wouldn’t cover it. I had the stone and just wanted it reset- and they wouldn’t do anything. If you keep that little piece of paper with you and get it inpected all the time, then it may be worth it.
But if you own a home and can get your insurance to SPECIFCALLY cover your ring, then that is a better option.
Baby Supplies
Well one they can look under the microscrope and tell if there are plyer marks or if the diamond was forced loose by extreme force. If you chip it,they will replace it. Plus, all diamonds have serial numbers lasered in them. So once your stone goes missing, the number is reported in a database and the only place that you could sell it is on the street,ebay,or a pawn shop.
Check with your insurance to see what is covered. Will they replace your diamond if it gets chipped? Do you have to meet a deductible if iits lost?
18K Bracelets
Yes, Jarad has a great policy. I don’t know about the other two places. It does not cover loss or theft however. They can tell if you pried the diamond out of the setting. However, if you don’t plan to bring it in every 6 months, then it’s not worth getting. If you damage the ring and hadn’t been there in a year, you void that warranty. Not worth it for a lot of people because they just can’t remember to do this stuff. I bought the guarantee because I’ve needed resizing (done free) due to arthritis.
As to whether it’s hard to knock a gemstone out of it’s setting, it depends on the design of the ring. Some ring designs tend to catch on things. Mine is sortof rounded, so the chances are much smaller. However, since I wear my ring all the time, it takes more abuse, so the regular cleaning helps.
Get separate ring insurance for loss or theft. Claims on your homeowners can actually cause you to lose your homeowners insurance these days.
I should also add that I’m not absolutely sure if the guarantee is transferable other than to an immediate giftee.
Baby Supplies
we got my ring insured. and im glad because i had to have it re-sized and it didn’t cost a thing and the check up every 6mths is no big deal. and kay lets you trade in for an up grade if you want to
Discontinued Stila
First of all, note that lifetime guaranteed coverage is just an up-sale on the product (ring) that you are purchasing. I have been wearing my ring for over 30 + years and have never, ever needed any repairs, etc…I believe that buying their insurance is a waste of your money. I do however have my ring insured on my homeowners insurance policy. You are to get a jewerly rider attached to the original policy and it will cost you approximately $125 a year, or so. This rider will cover for lost or stolen jewelry. It’s a far better and cheaper way of protecting your investment. Just make sure that you take it to a jeweler periodically to have the prongs checked!
Baby Supplies
I would not buy a ring from one of those stores, regardless of their “warranty.” The rings there are overpriced and the stones aren’t usually of good quality. I recommend you buy a ring elsewhere, either from an online retailer (like Blue Nile) or at a local jewelry store and then just put a rider on your homeowner’s or renter’s insurance. It’s only about $100/year for the insurance (the actual rate depends on the appraised value of your ring) and it’s much less of a hassle than going to the store every 6 months.
Mens Gold Bracelets
My fiance got my ring at Zales. With the warranty, it covers free resizing, inspection, and cleaning. It really isn’t that hard to go and have it looked at every 6 months. It only takes a couple minutes for them to do it. With the design of my ring and my profession, it makes a lot of sense for him to have spent the extra money in case it gets damaged.
Makeup-Discounters Content
My E-ring was appraised at 8000 and it is on my personal article insurance at State Farm and costs 60 dollars a year. You can have any jewelery store clean and check your ring. I went with buying online through bluenile because the value of higher quality for lower price could not be matched in jewelery stores. Suggest:
Of these three stores, zales is the lowest on the chain for quality. Kay’s is a mid-chain store comparable to Gordon’s, and Jared’s is a top line store comparable to bailey banks and biddle
Baby Nursery Decoration
We got my ring at Kay’s and we did purchase the lifetime warranty. I am so glad we did. The 6 month “check-up” is no big deal. I would never have thought not to purchase it. Yes you can add it to your homeowners insurance too. We did both. A friend got their ring there and also got the warranty. When she knock the ring at her job and the prongs broke off the diamond was lost. We searched all over for it. They went to Kay’s that night and within in a week she had a new ring. They replaced the whole ring. I thought maybe they would just fix the old ring, but they gave the old setting back to her and gave her a totally new ring. Her homeowners insurance did not want to replace the ring. They told her it was “basically” her fault. So homeowners is not always good.