3 Things You Need to Know About Ring Insurance | BG Bridal Gallery
Jewelry

3 Important Things You Need To Know About Ring Insurance

Jan 25, 2018

Ring insurance may sound out of this world to some people but if your fiance gave you an expensive ring on your engagement, you might want to learn more about this topic. This doesn’t only apply to engagement rings but also for all your other expensive jewelry.

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1. Is it necessary?

Maybe just maybe, this might be the last thing that comes to mind. But yes, it is necessary to get it insured, because if it is really valuable or a unique type of ring that has been passed on to generation to generation, then you must consider getting a ring insurance. In case you lost the ring it will be replaced or you will be given back the amount of money (or depending on the insurance plan you choose) of how much it costs.  But if you want to narrow down your expenses you can buy a vault and store all valuable jewelry in there with the appraisal, or take extra care and stay aware of the baby on your ring finger.

 2. Where do you find someone to ensure your ring?

Ask your jeweler if they are working with an insurance company and make sure that if you move, your “ring rider/rider/insurance rider” follows you. You will need to present your receipt and pay a fee for the appraisal.  An appraisal can be requested from a certified gemologist/GIA. 

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3. The questions you need to ask

  • What are the proofs that you need to have if you lost your ring?
  • Is it only covered if it is stolen or if lost?  Or both?
  • Is it insured full or half the price of it?
  • How will it be replaced?
  • What are the possible situations that the ring might not be covered?
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