Jewelry Insurance for Your Engagement Ring

For many people, an engagement ring is the first piece of expensive and valuable jewelry they buy. When purchasing a ring for their partner to be, jewelry insurance is often the furthest thing from their mind. However, a policy designed to cover the value of the ring is a great investment in the event that the ring is ever stolen or damaged. Engagement rings often exceed the amount of coverage provided by property insurance and so require an addition policy to cover them completely.

When to Get Insurance

Check your existing property insurance policy to see what the coverage limit is. If your engagement ring exceeds this amount – which it may easily do if the ring costs more than a few thousand dollars – it is best protected by a separate insurance policy.

How to Choose a Policy

You can often add a jewelry insurance policy onto your existing insurance policy by contacting your insurance agent. If you need to contact a separate insurance agency, make sure you work with one that specializes in jewelry or luxury item insurance.

What You Need to Do

Submit an inventory of your engagement ring to your insurance agent. This document should include a description or photo of the ring, as well as a record of the ring’s value.

Jewelry insurance may not be romantic, but adding insurance to your engagement ring provides great peace of mind.



photo credit: Photo Jewelry (license)