Purchasing an item as grand and expensive as a diamond is a big deal. Now imagine how big a deal it would be if something happened to it! Getting diamond engagement ring insurance is certainly a good idea, and there are several ways to go about it.
Even if you have to pay a little extra in the beginning, for example, to get it appraised by a certified gemologist, it’ll be worth it in the long run to know that should anything happen to your diamond engagement ring, you’ll be covered.
A common way to get insurance for your engagement ring is to include it in your current home and contents cover. This is where you may need to get it appraised in order for your insurance company to work out the value of the ring and how to cover it. At this time, you’ll want to find out from your updated policy, or another insurance policy you’re considering, if it includes cover for if the ring is lost as well as stolen.
If you are unable to add your precious jewellery to your home and contents insurance policy, you can speak to your jewellery store about whether they offer a ring insurance policy that you can use instead. This can be handier for those who do not have a home and contents insurance policy or those who wish to spend less and insure only one item.