Insuring Your Engagement Ring

Your engagement ring & wedding band hold a tremendous amount of value in terms of both cost and sentiment, so give yourself some peace of mind and purchase an insurance policy. It’s actually quite easy and affordable and one can expect to pay $1-$2 for every $100 of your ring's value per year.

First, decide whether you want to:

1. Add the ring to your renters or homeowners insurance policy, also called a “rider” or “extension” to your personal property clause
2. Explore outside insurance options and work with a trusted jewelry insurer

Make sure you are able to provide your receipt and an appraisal report from a certified gemologist and. Finally, read the fine print and know exactly what your policy provides including:

1. How much of the ring’s value is covered?
2. Does your policy include loss, theft and damage?
3. Are there circumstances under which you are not covered?
4. How will you be reimbursed for your ring?