<prompt> Human: I was looking into insurance for my fiances engagement ring purchased 4,800, appraised 10,000, and based on some things that I have read, Jewelers Mutual seems like a good option assuming no renters insurance my only valuables are 900 between two computers.To my understanding, in case of a loststolen ring, we will receive a ring of equivalent value, which I assume means that they will match the stone qualitymetal, but the premium is based on appraisal value. How does this high appraisal do anything but hurt us?So far I have not found a cash insurer, but I assume one would be notably more expensive.  <response>: insurance doesnt really care what you paid for it, they only care about what they will have to pay for it.if your appraised at 5K, and you lose it, you get a new ring worth 5K, if your appraised at 10K, you get a new ring worth 10K.you pay more to insure the 10K ring than the 5K ring. 