The Importance of Engagement Ring Insurance

Although you never intend to lose an engagement ring, unfortunately you just can’t control everything that happens in life. In fact an engagement ring can get lost or stolen a lot easier than you might think. Whether you choose to ever take it off or not, there is always a chance that something could happen, especially after some time goes on. This is because there will come a time when taking the ring off is inevitable whether to get it cleaned, to take a long bubble bath or to store for safe keeping while going on a long, far away vacation to the tropics.

weddingreceptioninsurance.net/why-should-you-buy-engagement-ring-insurance/”>Engagement ring insurance will help ease your mind during times like these, and while it can’t replace the same ring you have been wearing on your finger, it can protect your very expensive investment in most cases. So how much does this kind of insurance cost? Well, it depends on a few factors.

photo credit: Renee V

The cost of your engagement ring is a big factor, as this will determine how much insurance you happen to need in the first place. Since insurance premiums tend to vary from state to state, where you live can also play a big factor in how much you’ll pay for this kind of insurance. But it’s safe to say that you can expect to pay anywhere from $1 to $4 per $100 worth of coverage. Not a bad deal considering the financial and emotional value of your ring.

Some home owners insurance policies will cover if you lose your ring in or around the home, but there is usually a hefty deductible and if you happen to lose outside the home, its not covered. If you opted for wedding reception insurance and you lose a ring on your wedding day, again often times they will cover the loss so always look into exactly what covers what and how much. The only way to really ensure you are fully covered is to purchase engagement ring insurance and thus you will be protected regardless, and trust me this peace of mind can be worth it!

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