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To Insure or Not To Insure My New Engagement Ring?

Congratulations! You're engaged, and for many of us that gorgeous new engagement ring is the most precious piece of jewelry we own. After you've posted your first Instagram photo and TikTok video(don't forget to tag us) the next thing you should do is insure your ring.

Simply stated we see the most damage and loss within the first two years of wear, when the ring is new and you are just getting used to wearing it. Most damage caused by wear and tear like catching the ring on something, pulling back a prong or bending the ring band out of round can be repaired by your jeweler at a reasonable cost. But loss is devastating, and the jewelry piece is rarely returned or found.

As a high value item your new ring must be insured separately, like your home, car and healthcare. Every home, condo and tenant’s policy has limits set on jewelry coverage, it may be as low as 500.00 or as high as 5000.00, and may or may not have a deductible. Check with your existing insurance company about your policy just to be safe. If you don't already have adequate coverage you can use your purchase receipt to add coverage to your current policy or use an online insurance company like Jeweler's Mutual or Gemshield. It's so easy to do and reasonably priced(usually around 100.00 per year for a 5000.00 ring) maybe check with both companies for the best price and coverage!

Looking for a little more insurance talk.... 'Engagement Ring Insurance 101' from The Knot.

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