You’re Engaged! Now What?: Ring Insurance

by Emily Grace

You now have a beautiful ring on your finger, and it is very likely that it will be one of the most expensive pieces of jewelry that you will ever own.  In addition to the monetary value of the ring there is high emotional value that is associated with it too.  Getting your engagement ring insured is probably a good idea.  Go ahead and talk to an insurance agent about coverage in case stones or the ring itself ever needs to be repaired or replaced.  Getting it insured might seem like just a pain to do, but it will be worth it in the long run.

Here are some steps to take to getting insurance for your ring.  First you need an appraisal by a certified independent gemologist, most jewelers will provide this service upon purchase and will explain the terms of the policy–is the ring covered if it is lost, stolen, or damaged, etc.  Also, what are the stipulations of the policy? Do they send you a check to get it repaired or do they have jewelers that repair it? How long does the claims process take?  If the jeweler isn’t able to provide a satisfactory policy, you should be able to add something on to  an existing insurance policy once it has been properly appraised

Take good care of your ring, both when wearing it and not wearing it. Clean it regularly in order to keep it shining bright. Take it in once a year to be checked making sure that everything is secure and that none of the stones are loose. This is the best insurance policy you can have.

Enjoy your new bling!

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