Should I Insure My Engagement Ring?

An engagement ring is an investment that needs protection. Unforeseeable circumstances arise throughout life so it is very important to insure your ring.

Insuring your ring is fairly simple. You first need to get your ring cleaned and appraised. You can do this a any local jewelry store. You will need to obtain necessary paperwork that provides detailed information about your ring, including its value.

The best way to keep tabs on your investment is to contact your homeowner’s or renter’s insurance representative to see if you can include it under you plan. Most plans protect your ring from theft, loss, and damage to your ring.

Some policies even offer a replacement policy for your ring, allowing you to purchase a duplicate or will give you the actual cash value to purchase a new ring of your choice. In some instances, a valued at plan can be put in place if you have a unique or very expensive ring, allowing you to get a new ring priced at a higher dollar amount than it is actually worth.

Either way, it is definitely worth speaking to your insurance sales representative to determine which option will be protect your sentimental and cherished investment.

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