Engagement Ring Blog
Getting engagement ring insurance
For many, buying an engagement ring is one of the most expensive purchases they will make in their lifetime. Just like you would when purchasing a home or a car, you might want to consider getting insurance for the engagement ring. It is better to be safe than sorry and insurance should be put on all bride-to-be’s wedding to-do lists.
Ring insurance can easily be purchased as an ad-on to renters or homeowners insurance. This is also called rider insurance. Though these insurances cover items in a home, they only go up to a certain dollar amount. Depending upon the cost of the ring, it might make it to where there is not enough insurance coverage for everything.
When adding ring insurance to an existing policy you will need to provide receipts and an appraisal. The appraisal will cost a small fee and must be done by a certified gemologist.
Those who do not have insurance coverage can still get insurance for the ring. Some jewelers offer insurance at the time of purchase. Depending upon the policy, you may be covered for damage to the ring and in some cases, theft.
Things can happen, which is why insurance is always a good idea. Covering an engagement ring is a smart move and will protect you should it get stolen.