For most people, jewelry may not be the most important thing in their lives, but it does have an emotional attachment that makes it irreplaceable. Even if you don’t consider yourself someone who wears jewelry, chances are you have a wedding ring or two that were passed down to you from your parents or grandparents, or you bought for yourself. That’s why we’ve put together this list of the best wedding ring insurance to help protect your most valuable and sentimental items so you can enjoy the peace of mind knowing that they will always be there for you and your loved ones.
If you match the description above, then let’s dive in.
Best Wedding Ring Insurance Tips One: Why would you need to buy insurance?
Before I show you the best wedding ring insurance that is suitable for you and your partner, look at why you must decide to ensure your wedding ring in the first place.
The cost of a wedding ring is also one that can vary greatly, as well. Some people may spend only $500 or $1,000 on a wedding ring, while others may buy a ring for $10,000 or more. There’s also a risk of losing your ring. If it were lost or stolen, it would be nearly impossible to replace.
A small-denomination ring might only be worth $500 or $1,000, but you could lose thousands of dollars if your diamond solitaire disappeared. Finally, if you lose your ring or it’s stolen, you might not be able to get reimbursed. A $1,000 ring might be covered by a traditional home insurance policy, but it’s unlikely that a company would give you full value for a ten-thousand-dollar diamond. This is particularly true if you don’t have theft coverage.
Best Wedding Ring Insurance Tips Two: How Do You Choose Your Plan?
That’s a big question to answer if you are looking for the best wedding ring insurance. When it comes to wedding ring insurance, you have two basic options: a one-time plan or an annual plan. A one-time plan makes sense if you’re only planning on wearing your ring during your wedding day, while an annual plan can save you money in case you lose or damage your jewelry at any point during 12 months.
Just keep in mind that some policies exclude certain metals and require that your ring be protected for its replacement value instead of its original cost. You’ll also want to ensure that your plan covers both your engagement ring and wedding band. Some plans cover only one of these items, leaving you to pay a separate premium for your second piece of jewelry.
If you plan on wearing multiple rings during your special day or have other jewelry or accessories worth protecting, be sure to ask about additional coverage fees and whether those fees are waived if you add more jewelry during a later date.Want something else?: We offer insurance for so much more than just weddings!