Congratulations! You and your significant other just got married, and now you’re starting your new life together. Before you get caught up in all of the exciting changes to come, there’s something you should consider insuring—the ring around your finger.

Types of Ring Insurance

There are two commonly used ways to insure an engagement ring. The first is through an extension on your renter’s or homeowner’s insurance policy. Your existing homeowner’s policy provides coverage for items in your home, but only up to a certain dollar amount. Purchasing an extension would provide additional coverage against theft.

The second option is to purchase a personal inland marine policy. This policy is separate from your homeowner’s or renter’s insurance policy, and it provides coverage against theft, misplacement, or loss of valuable items, such as your wedding and engagement ring.

Who Needs It?

You do — if you have bought a wedding or engagement ring, you should purchase insurance.

Why You Should Get It?

Purchasing a ring insurance policy not only honors the monetary value of the item, but also what the ring itself represents — protection and security for something you love and cherish. Although the sentimental value cannot be replaced, in the case of loss or theft, insurance can cover the cost of replacement.

Additional Info

  • If you insure the ring through your homeowner’s or renter’s insurance, make sure to update your policy if you move.
  • The yearly cost of insuring a ring is $1-2 for every $100 it would cost to replace it.

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