How to Get an Engagement Ring Insured
Few things compare to that memorable moment when you say, “I do.” Shortly after receiving that perfect engagement ring, however, you need to start thinking of protecting it. This means insuring against loss, theft and potential damage. Read on to learn how you can secure affordable insurance protection for your most precious piece of jewelry.
What Is Engagement Ring Insurance?
Every type of insurance is a contractual policy that serves as a means of risk management. Essentially, you are taking steps to protect yourself from financial repercussions in the event of theft, physical loss or damage. Jewelry policies typically extend to any and every jewelry item submitted to the coverage scope. This means you can include your engagement ring and other jewelry pieces in your plan. Should you ever need it, insurance will pay to repair or replace your ring and any other jewelry included in your policy.
Why Should You Get Coverage?
What happens if you lose your engagement ring? What if it’s stolen, or a gemstone falls from its setting? Even with proper care, accidents can happen. With this in mind, it’s important to plan for all eventualities by investing in a good insurance policy.
An engagement ring is a personalized piece of jewelry designed to represent your one-of-a-kind love story. It’s also a big financial investment. Just as you pay to insure your car and home, you should pay to insure other valuable possessions, including your jewelry. Whether you accidentally leave your engagement ring behind at the beach, lose a diamond at the gym, or have the entire piece stolen from your home, ring insurance provides financial protection. Even if you never need it, an iron-clad insurance policy can provide invaluable peace of mind.
How to Insure an Engagement Ring
Most home and car insurance companies offer some type of jewelry insurance policy. Many times, you can simply add a new policy to your existing renters or homeowners insurance plan. That said, while some policies only offer basic protection; others provide specialized coverage that will even pay to replace unexplained losses or mysterious disappearances.
Because many people feel confused by jewelry insurance, John Atencio streamlines the process by helping his customers secure insurance through Jewelers Mutual. Since 1913, Jewelers Mutual has been the only professional insurer exclusively dedicated to jewelry. Insuring your engagement ring with a stand-alone policy, such as Jewelers Mutual, keeps your home insurance from increasing in the event of a claim.
John Atencio has arranged for the Jewelers Mutual Insurance Group to offer his customers invaluable insurance coverage for jewelry purchases and, for your convenience, we can facilitate a complimentary quote from Jewelers Mutual at every one of our store locations.
At the same time, we help protect your investment by offering a lifetime warranty care plan through Jewelers Mutual. This provides peace of mind and the assurance that your jewelry will continue looking its best over time. Our lifetime service warranty includes the following at no added cost:
- Rhodium plating
- Ring resizing
- Refinishing and polishing
- Broken, bent or worn prongs
- Loss of stones due to defective setting
- Cracked or thinning band or shanks
- Broken clasps, bracelets or chains
- Replacing cracked or chipped stones
- Pearl restringing
- Broken earring posts
Coverage for damage, theft, loss and mysterious disappearance of your ring falls under a separate insurance policy, which we can help you secure when you purchase your jewelry. The Jewelers Mutual Care plan covers the lifetime care of the ring, so you can confidently wear your jewelry without worry.
How Much Does Jewelry Insurance Cost?
Surprisingly, jewelry insurance is one of the most affordable types of financial protection. The annual cost to insure your engagement ring will be around $1 to $2 for every $100 that it would cost to replace. In other words, if your ring would cost $8,000 to replace, you can expect to pay from $80 to $160 per year to insure it. Bear in mind that rates will vary based on your location, the provider and any special features associated with the plan.
At John Atencio, our engagement ring experts can show you how to choose a perfect diamond. We can also show you how to protect your investment by helping you secure affordable insurance coverage. Visit one of our locations and let our attentive, knowledgeable experts guide you toward the perfect engagement ring for your beautiful love story. Use our helpful diamond search and then make an appointment at one of our convenient locations.