Your ring is an important investment, here are some tips to getting your engagement covered by insurance:
- First, get an appraisal for your ring. You can find more information about getting an appraisal here.
- Call your current insurer to see if you engagement ring could be covered under your homeowners or rental policy. If you already have a form of property insurance, it's possible your ring could be easily added.
- If your ring cannot be covered under your existing homeowners/rental insurance policy, you can get a separate policy for your engagement ring. Find a jewelry insurance representative for information about rates and the limitations or conditions of your coverage.
- Choose your deductible price. This is the amount you will pay in case something happens to your ring and it needs to be replaced (your insurer will pay the rest). While most jewelry insurers will offer different deductible options, the higher your deductible the lower your annual insurance premium payment will be.
- Be sure to take detailed photos to included with your documentation for your insurance policy. It's recommended to keep a set of pictures for yourself so you have your own proof of documentation.
- Once you've gathered all of your documentation, send it to your jewelry insurance company. You'll receive a policy to keep in your records in case anything should happen to your engagement ring.
