Why You Should Consider Purchasing Insurance for Your Engagement Ring

No matter how inexpensive your engagement ring is, it holds many memories and emotional connections, and you can’t risk losing or damaging it. However, in most cases, engagement rings are expensive, so it’s only wise to purchase insurance for your engagement ring. Before considering why it is important to consider purchasing insurance for an engagement ring, let’s see what it means.

Insurance of Engagement Rings

Engagement ring insurance is a policy you can purchase from an insurance company to safeguard your engagement ring.

What Does the Insurance Offer?

Ring insurance offers several benefits, like repairing an engagement ring if damaged and covering up your loss if the ring gets stolen or lost. Moreover, insurance companies also replace the gemstones if they come loose.

When Should You Think About Getting Insurance for an Engagement Ring?

The sparkle on your finger after getting engaged is a sign that ring insurance is for you. Moreover, if you continuously fear that your ring might get lost or stolen, consider it a sign you need to get your engagement ring insured. Furthermore, if you frequently travel, there will be a fear that your ring might get stolen. Whatever the fear is, getting insurance will give you peace of mind.

What Questions to Ask Before Getting Insurance for an Engagement Ring

You can ask the following questions before purchasing insurance

  • Will the insurance company ask for evidence if the owner doesn’t know where the ring went?
  • Does it cover the loss of the ring due to chemical exposure?
  • What’s the process for filing a claim?
  • Will the ring quality differ if the insurance company offers a replacement?
  • How much value of the ring will the insurance cover?

Why Should You Consider Purchasing Insurance for Your Engagement Ring?

Considering insurance for your engagement ring is a wise option for several reasons.

To Protect Your Ring

Many couples get their engagement rings insured to protect their expensive ring in case anything goes wrong. For example, if your ring gets stolen in a house robbery or during travel, you won’t have to bear the complete loss as the insurance company will cover it. Secondly, if your engagement ring gets damaged or lost, your insurance company will communicate with your jeweler and get the ring fixed.

Insurance Gives Relief from Stress

You will fear your ring getting stolen or lost as soon as you get engaged. All the stress is not good for health. Purchasing ring insurance will give you mental peace. This way, you will not worry about your expensive ring getting lost or stolen during travel or holidays as you will know that the insurance company will replace it or help you bear the cost of it.

Engagement Insurance is Relatively Inexpensive

You might think that it is a waste of money to purchase ring insurance. However, it is the opposite case with rings. Of all the jewelry pieces’ insurance, ring insurance is the most cost-effective. The insurance amount will be around 2% of your ring’s value which is quite inexpensive compared to the loss you might bear during a house robbery. For every 100 dollars insured, you will only have to pay at most $2 annually.

What Does the Insurance Policy for Engagement Rings Cover?

It is worth purchasing insurance for your engagement ring due to several things the policy covers.

Loss of Ring Due to an Accident

During travel, you might lose your ring forever. It might slip off your fingers at the beach or fall down the drain. It will be a loss but not a lasting one, as insurance will cover the cost for you by replacing your ring.

Loss of Ring Due to Theft

Many American homes complain about frequent house robberies. Suppose it can happen to you as well one day. Therefore, you must be prepared with insurance in case your ring gets stolen. The policy will cover the loss you bear due to the theft of the engagement ring.

Damage Caused to the Ring Due to Accidents or Natural Disasters

Sometimes your engagement ring can get damaged due to falling. Someone might step on it accidentally, too, causing it to lose shape. Moreover, insurance will cover the damage caused to your ring during a fire. Sometimes, you might lose the gemstone on the ring, or the diamond may chip off. Whatever the case is regarding damage, the insurance policy will cover that.


Most engagement rings are expensive, so purchasing an insurance policy is wise. Given that an insurance policy for an engagement ring offers many benefits, you would be causing a loss to yourself by not purchasing insurance for an engagement ring. Please review the above benefits to know how important it is to purchase insurance for your engagement ring.

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