What Does Engagement Ring Insurance Cover?

Let’s face it, your engagement ring could, at some point, get damaged, lost, or stolen. And if that happened you would definitely want to replace or repair it. After all, your engagement ring is a symbol of your love and marks the beginning of your journey together as a couple. But in the event that something did happen to your engagement ring, could you afford to have it repaired or replaced? Insurance protects you from ever having to worry about your engagement ring. You can wear it confidently wherever you go knowing that you could always replace or repair it. So, yes, you should definitely get your engagement ring insured. Engagement ring insurance companies offer policies with various clauses to protect your jewelry but here are the most important types of coverage that should be included in your engagement ring insurance policy.

If Your Engagement Ring Goes Missing

Your jewelry insurance will cover the loss of your engagement ring whether it has been left at the poolside, thrown down the toilet by your toddler, or eaten by the dog! Make sure your jewelry insurance policy covers the loss, theft, damage, or disappearance of your engagement ring when you are overseas. This is not automatically included in all insurance policies.

If Your Engagement Ring Is Stolen

You might have had a burglary at your home, you might have been mugged, or your engagement ring might have been stolen from a place you thought was safe, like your locker at the gym. If your engagement ring is stolen you need to report it to the police. Your insurance will cover the theft of your engagement ring if you can produce a police report. Check that your jewelry insurance policy covers theft that happens anywhere, and not just in your home. 

If Your Engagement Ring Is Damaged

Engagement ring insurance will cover the repair of damage to your ring. Not only that, but the best jewelry insurance policies will allow you to choose which jeweler to work with. You might have banged your diamond ring on the table and a piece of the stone might have chipped off, or perhaps your ring has been bent out of shape. Accidental damage is covered by jewelry insurance policies. You can get your ring looking like new in no time.

If Your Engagement Ring Mysteriously Disappears

There is a clause in jewelry insurance policies that covers mysterious disappearance. This means the jewelry has disappeared and you’re not really sure when or how it went missing. The jewelry may have been stolen, lost, or it may have been misplaced, but it is missing and you have no explanation. In these cases, some jewelry insurance companies give you the benefit of the doubt and cover the mysterious disappearance of your jewelry even if you don’t know how, where, or when it happened.

Insurance Policies That Cover Preventative Maintenance

Some jewelry insurance companies will cover preventative maintenance. This means that you can have minor work done on your engagement ring just to keep it maintained in good condition. For example, you could have the prongs of the setting tightened to prevent the stone from falling out.

What Is Not Included in an Engagement Ring Insurance Policy?

Engagement ring insurance differs depending on the insurance company and the particular policy you have. There are certain things you should ask about when getting engagement ring insurance. The best engagement ring insurance policies will cover chipped gems, loose settings, and bent prongs. Look for an “all perils” policy that will cover almost all types of damage. Even policies that cover “all perils” usually don’t cover normal wear and tear and loss or damage due to war or military action. It won’t protect your jewelry in the event of damage from vermin, insects, or rodents. And you won’t be covered if you fraudulently try to claim on your policy by intentionally damaging your engagement ring. Engagement ring insurance also does not cover pre-existing damage.

Get Your Engagement Ring Insured

The bottom line is that any piece of valuable jewelry should be insured. Without insurance, it will be difficult to replace or repair your jewelry if anything happens to it. An engagement ring has both monetary and sentimental value that needs protecting, and a good insurance policy can provide that protection.


You may be interested in: Factors to consider while selecting the best diamond ring