Insuring Your Engagement Ring

Insuring Your Engagement Ring

Congratulations, you have been married! Now with the wedding complete, the honeymoon well spent, and the house in order it is time to think of the details.

Simple requirements such as transferring mail and modifying insurance policies are due. Insurance policies, that's right! Who's insurance will you be on and what provider will you go with? When completing your insurance policy one of the most valuable assets to list as a new couples is your engagement ring. With rings being such a small piece of daily wear they can easily be lost in commotion. It is wise to insure your engagement ring and other fine jewelry when setting up home policies as a new couple.

There are options to getting your jewelry insured. First, do your research. Call different insurance companies and ask what coverage options they provide for jewelry.

    li>Your homeowners or renter insurance may cover some valuables items. While this is a cost effective option, they company may not provide full coverage on your jewelry and there may be a deductible.
  • Buy a separate "Valuables/Personal Property" plan with your current provider to receive full coverage.
  • Invest in a separate insurance provider that specializes in jewelry coverage. These are comprehensive plans that cover theft, damage, and loss.

Here are a few tips from a leading insurance provider to help you properly prepare to insure your jewelry:

  • Make sure it is insured for the right amount
  • Have the item appraised
  • Keep a copy of the store receipt
  • Take a picture of the item
  • Store your jewelry in a secure place such as a safe-deposit box
  • Have your jewelry inspected regularly