Engagement Ring Insurance – Get Protected

Engagement Ring Insurance – Get Protected

With the holidays fast approaching, so comes the season of proposals! You window shop for your dream engagement ring at every jewelry boutique you pass on your way to work. Your partner is secretly searching for the perfect ring on his iPad during an office meeting. As the two of you go looking through store after store, searching for that diamond needle in a haystack of sparkle, don’t forget to also search for protection; insurance that is.

It may not be the first thing you think about when hunting for the perfect princess cut diamond ring, but it should definitely be on your to-do list. The last thing you want is for your ring to be gobbled up by a sea turtle while snorkeling on your Hawaiian honeymoon. Why make a situation worse because insuring it slipped your mind?

Tips for insuring your engagement ring:

  • Get an appraisal – most jewelers will offer to appraise your ring for free at the time of purchase. Reappraise every few years because the value may have gone up.
  • Offered by most insurance companies – so shop around. Insurance agents will want to look at the ring, so policies have to be written in person.
  • Add it to your renters insurance – renters insurance can insure a particular item up to 5k.
  • Consider pulling out a separate policy – if your ring is appraised for more than 5k it cannot all be insured under renters insurance. A separate policy covers the ring outside of your home (such as coverage against Hawaiian sea turtles).
  • Take pictures – take pictures of your ring. If your ring is stolen, you can show the police exactly what is missing. You can also show this to a jeweler who can help you replace it with something similar.

Talk with your jeweler and insurance providers to learn how they can help you protect your engagement ring in the case it gets lost, stolen, or eaten.