Everything You Need To Know About Insuring Your Precious Diamond Engagement Ring

Your engagement is one of the most important occasions of your life. You are happy, you are excited and most importantly, you are in love with your engagement ring. Even if your engagement ring is of brown diamond, you still must have paid a good amount of money and must have put in all your emotions into the ring. It is a priceless symbol of love, commitment, and dedication. Loss, damage, and theft occur quite commonly but you can save yourself from the deal by getting your chocolate diamond ring insured.

What is Engagement Ring Insurance?

Engagement ring insurance works almost the same as any other insurance. The two common ways of protecting your chocolate diamond jewelry include:

  • Homeowners And Renter Insurance: This type of insurance can cover the loss of your ring up to a certain monetary amount, depending upon your individual policy’s deductible and stated limits on the unscheduled personal asset. People often get full coverage for their chocolate diamond wedding rings by purchasing scheduled personal property coverage, an insurance extension that covers specific items. Ask your insurance agent or company about this extension for your precious engagement ring.
  • Jewelry Insurance Companies: Another popular option is to get your ring insured through a company specialized in jewelry insurance. Since these companies work on only this premise, they offer a comprehensive coverage plan rather than a limited coverage plan as homeowner’s policy. The jewelry insurance company might offer to recreate the lost piece or repair a damaged one. Your engagement ring is near to your heart, keep it near to yourself always by protecting it.

The Process Made Simple

Getting your chocolate diamond rings insured has become a lot easier. The process is as follows:

  1. Get an expert gemologist to appraise your ring. You will get documentation of your ring’s value that can be used for insurance purposes.
  2. Find out if your current homeowner insurers offer ring insurance. If not, you may ask them to provide an extension of the current policy. Or you may opt for a jewelry insurance company to insure your valuable ring. You can tailor-make the package for yourself depending upon the items you want coverage for.
  3. The cost of insurance will vary depending upon the insurance company and the aspects for which coverage is provided. A rule of thumb generally applied is to pay $1 or $2 for every $100 of your ring’s replacement value.
  4. Your ring has now been insured. Flaunt your stunning engagement ring without worrying about its safety.

Protect Your Memories!

Your engagement ring is precious to you and holds the emotional value that money can’t buy. Getting the engagement ring insured will let the happy bride-to-be wear the ring with confidence and flaunt with pride. It will help you enjoy your special moments and the beauty of your beautiful ring. The marginal cost of insurance can secure your peace of mind which isn’t a bad deal after all.