You
should
consider
insuring your engagement ring.
You can arrange to have your rings insured before they leave the
jeweler's shop.
The insurance company will ask for a written evaluation and then it is
up to you to decide on the type of policy you want.
Always read and understand the fine print of your insurance policy to
make sure that there are no loopholes, such as they may only replace a
lost or stolen ring at the appraisal value, which may in time be a lot
less than its replacement value, or the entire band may be insured if
it is lost, but if the stone is lost, the company is not liable.
Image by Astrocoz
If
it is not possible to get the coverage from one company keep looking
for one that will give the needed coverage.
Another form of protection (as well as the ring insurance) is to have a
good close up picture taken of the rings, with a description and
specify on the back of the photo the cut, carats, and color of the
stones to be insured.
If the ring is to be insured in your householder's contents policy, you
may need to specify the value of the rings to be able to claim more
than the set amount.
Discuss the matter thoroughly with your broker before you decide, but
don't leave the decision until after the wedding.
