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Does Insurance Cover My Engagement Ring?

Double Halo Ruby Engagement RingThe
 average engagement ring costs over $1,500, yet many of us forget to get adequate coverage in case it is lost or stolen. While you can never replace your ring’s emotional value, there are ways you can insure its monetary value. Purchasing diamond jewelry insurance doesn’t have to be complicated.

When planning a romantic proposal, insuring a valuable gift is not necessarily the first thing that springs to mind, so we are reminding people to make sure expensive jewelry is fully covered.

First, get your ring valued by a jeweler or appraiser, who should give you a valuation certificate.

Then check if it’s covered by your home and contents insurance policy.

Once you’ve got your insurance, take a photo of your ring, as this will help your insurer to process any claim more quickly.

Finally, if you lose your ring, inform your insurer immediately, and if it’s stolen, contact the police and get a crime reference number, as this is essential for a theft claim.

Diamond Jewelry Insurance Chart


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