Engagement Ring Insurance

It's more important than you think!

Kavella Wedding Photography

Kavella Wedding Photography

Rock your ring without fear of anything happening to it.  I'm sure there are a thousand other things you'd rather do right after he gets on one knee such as telling all your loved ones and friends, posting your engagement ring on social media and, of course, planning your wedding!  But, there is one thing you should keep at the top of your list... jewelry insurance.  As unexciting as it sounds, it'll save you if anything happens to that precious accessory.

So, what is jewelry insurance and do you actually need it?
Yes, you need it.  There are two options.  The first is called "Ring Rider" insurance which is when you extend your current renters or homeowners policy to cover your ring.  The second option is placing your trust in an insurance company that specializes in jewelry.  Your jeweler might offer you an insurance policy during the ring purchasing process but there are some questions you should ask before deciding which route to go.

  • What circumstances are covered?
  • How will the company replace the ring?
  • Is the ring insured at full cost or a fraction of the cost?
  • How will you need to prove that the ring was stolen or lost if you make a claim?
  • Are there any circumstances where the ring isn't covered?
  • What is the cost and what factors influence the rate?
  • If I do have a claim, will my renters or homeowner premiums increase?

Whether your ring costs $500 or $50,000, it's important to find an insurance policy that works for you.  It will honor both the financial and emotional value that comes with your ring.