Tidbits & Tips {Engagement Rings}

I could seriously look at engagement rings all day! Trying on different shapes, sizes, and colors and watching them sparkle just makes me giddy =) But one thing couples don’t always think about is insuring that gorgeous stone! If you’re like me and have a tendency to misplace small objects, then this post is definitely for you! Check out some of my tips for finding the perfect insurance to cover your wedding ring:

  • How to insure a ring – many renters/homeowners policies will allow you to purchase an extension {a.k.a. a rider} to cover particular items such as fine jewelry. You can also use a separate company that specializes in jewelry insurance, like Jewelers Mutual. Just make to sure to keep any receipts and appraisals!
  • What you need to know – make sure you find out answers to these questions before deciding on a plan: is the ring covered if you lose it accidentally, or only if it’s stolen? How does the company replace the ring? Is the ring insured to the full cost? How do you go about making a claim? Are there any situations in which the ring would not be covered?
  • How much it costs – it’s typically around $2 for every $100 that it would cost to replace a ring. So if your ring cost $2,500 to replace, you’d pay about $50 per year to insure it.