Why Engagement Ring Insurance is Not an Option

Posted March 28 2017

Why Engagement Ring Insurance is Not an Option

Getting the ring? You need engagement ring insurance. We're sharing everything you need to know to protect the ring that means so much.

Keyword(s): engagement ring insurance


So, you've found the perfect partner and you've chosen the perfect ring. Now, it's time to talk about engagement ring insurance. 

Because engagement ring insurance is not just an option for you and your spouse to be; it's an absolute necessity. It's right up there with breathing in terms of its importance. 

Engagement Ring Insurance

Up to this point you've planned everything exquisitely. 

You've ensured that the proposal was flawlessly executed. You've studied her style and chosen a ring that rests beautifully on her finger.

That ring was made for her, right?

This is one of the most exciting times in both of your lives. 


While none of us ever want to foresee the worst, sometimes the worst can happen. And, with insurance, we can protect ourselves if the worst happens to us.

Haven't given much thought to engagement ring insurance? The time has come to change all that.

Read on for our quick guide.

Engagement Ring Insurance: The Complete Guide 

When you're insuring your engagement ring, you're not just protecting its monetary value. That ring represents so much more than the money you paid for it.  

It's the ultimate sign of your commitment to each other. It represents your hopes, your dreams, your future as a couple.  

So, when opting for insurance, you're protecting the ring's monetary value, but you're ensuring its and emotional value as well.

Options with Engagement Ring Insurance

You have two main options with engagement ring insurance:

  1. If you have homeowners' or renters' insurance, you can purchase an extension (called a "rider") to cover your ring
  2. You can take out a specific policy with a company that specializes in jewelry insurance

A homeowners' or renters' insurance policy can offer you coverage on the loss of your ring up to a certain amount, but it may be subject to certain conditions such as your policy's deductible. Specific insurance cover will be available but make sure and talk through those specifics with your insurance provider. 

If you opt to insure your ring with a company specializing in jewelry, you might get more comprehensive coverage than you would with a standard homeowners' policy. 

The key is to shop around and make sure that you are getting the best cover for a price you can afford. 

Get an Appraisal 

You cannot protect the value of your ring if you don't know what it's worth. Some insurance companies will accept a receipt or an appraisal from the store you bought the ring, but others will want an independent evaluation.

If this is the case, you can get an appraisal from a graduate gemologist. This appraisal will include the carat weight, cut, color and the clarity of the diamond as well as well as identifying hallmarks, etc.  

Engagement Ring Insurance - A Necessity

Whatever route you chose to go down, the important thing is to get insurance as soon as possible. We recommend that you purchase insurance as soon as you purchase the ring. 

Becuase unfortunately, accidents do happen.

And, it's important to protect your memories, your sentiments, and your financial outlay, if an accident happens to you. 

Want more advice? Still searching for the perfect ring? Get in touch. We're always here to help.