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Protect Your Precious Moments by Insuring Your Ring!

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Jessica Bishop Headshot

If you’re reading this, it’s likely that you are currently engaged and sporting some new bling! No matter if you’ve been engaged for five minutes or five months, allow us to say Congratulations!

Insuring Your Ring

The engagement period is such a special time — it’s just the beginning of your life together with your partner. But let’s face it, it’s also a really busy time! Between engagement parties, showers, and all that goes into planning the wedding day, you might not have even given a thought to insuring that precious new (or vintage) piece of jewelry on your finger!

So, your partner popped the question and you said YES! You’re engaged and now you’ve got a sparkly little somethin’ on your left hand. Everything is just peachy! But have you ever considered the following scenarios:

  • You take your ring off while washing your hands at a restaurant and leave it on the bathroom counter.
  • Someone breaks into your home and steals your belongings, including your shiny new rock
  • Your ring falls off and sinks to the bottom of the ocean while on vacation

If you lose your engagement and/or wedding ring, chances are you’re probably not covered.

Why You Should Insure Your Engagement Ring

One of the first things you should do once you get engaged is to secure an insurance policy for your engagement ring. The yearly investment on an insurance premium is a small price to pay to feel covered, protected, and worry-free when it comes to wearing your new bling. On a tight budget and feeling forced to choose between an upgraded linen for your wedding reception tables and protecting your ring? This should really be a no-brainer.

Here at The Budget Savvy Bride, we like to help couples find perspective — the wedding is just one day, but your rings are a symbol of your love that will last a lifetime. Isn’t that more important in the grand scheme of things?

Consider this a gentle reminder. You see, your engagement ring is more than just a piece of jewelry — it’s a symbol of your love, your relationship, and the special moment in time when your future spouse asked you a very important question – to spend the rest of your life together! Your rings represent a rare and precious moment in your life with invaluable memories attached that will last your entire lifetime.

No matter the actual cost of your engagement ring, the sacred covenant and treasured memories it represents are truly priceless and should be protected. When it comes to budgeting your personal finances or your wedding spend, it is of utmost importance to protect this symbol of your treasured memories by insuring your engagement and wedding rings.

Your new ring is something that should be celebrated and enjoyed every day, not locked away for safekeeping. Protecting your ring from theft, damage, or loss is as important as protecting anything else of great value, and the best way to ensure that your ring is protected is to get it insured.

Many Jeweler Warranties are Limited

Many included jeweler’s warranties only cover chipping / cracking and loss of the diamond from the mounting (as long as you have your rings inspected every six months.) They also usually cover unintentional damage to the ring and loss of any smaller diamonds. Many just have a lot of legalese language and they basically only cover manufacturer’s defects (whatever that means- amiright?)

Some jewelers offer these warranties for free, while others charge for them. While all warranties differ on what they actually cover, none of these jewelry warranties cover some of the most common problems that pop up after such a significant jewelry purchase. It’s lame because most buyers feel that their purchase is protected due to the fact that most jewelers will boast about how great their warranty is. And let’s face it, when you’re all caught up in the excitement of making that purchase and getting engaged and planning the wedding… it’s not surprising that you’d space on this detail.

Jewelers Mutual® Insurance Company-a company started 101 years ago- offers arguably the most comprehensive coverage for insuring your ring and other jewelry.

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photo by Laura Lee Photography

Don’t Let It Happen to You

According to Jewelers Mutual Insurance Company, the most common reasons a policyholder makes an engagement/wedding ring claim is due to accidental loss or mysterious disappearance. In fact, almost 40% of their 2009 claims are because of these very reasons. Since a diamond ring is so small, there are hundreds, if not thousands of ways to misplace or lose it. Burglary and robbery are also among the top reasons for claims. These incidences won’t be covered by any jeweler’s warranty, either. The problem is that we’re talking about a ring that likely cost thousands of dollars. Not to mention, the emotional loss of something so meaningful; this by itself is irreplaceable.

Sadly, it can be a rude awakening to discover you’re not properly covered. Realizing your loss won’t be covered can be devastating emotionally and financially. Did you know that many homeowner’s insurance policies specifically exclude any single item of over $1,000 to $1,500 in value? In many cases, unless you add a specific jewelry policy to your account, you won’t be covered! And your treasured ring will be gone forever– you will be forced to pay to replace it yourself.

Copyright Drew Brashler Photography
Copyright Drew Brashler Photography

Protect Yourself- Insure Your Rings!

Review your jewelers and homeowners’ policy to clarify what is covered. Get your engagement/wedding ring (and any other good jewelry) appraised and insured. And do it ASAP! You don’t want to find yourself in a sad situation because you didn’t get this taken care of. Obviously, you should compare rates and coverage with your own personal insurance agent. Get confirmation that your engagement ring, wedding ring or other valuable items are adequately covered.

Just like it is oh-so-important to have health insurance to cover yourself in case of emergencies, insuring your rings can also offer you peace of mind. Jewelers Mutual Insurance Company offers various plans to protect and insure your ring. Their plans offer low yearly premiums that will allow you to wear your jewelry without worry. They also offer coverage against damage or loss, and even mysterious disappearance. These instances may not be covered by a standard homeowners insurance policy and certainly not jeweler’s warranties!

Just like your engagement ring- the details are what makes Jewelers Mutual special:

  • Jewelers Mutual covers your ring world-wide, wherever you go- go with peace of mind
  • They encourages you to work with the jeweler of YOUR choice when repairing or replacing your piece
  • Jewelers Mutual works tirelessly to replace your piece with SAME kind and quality, not just LIKE
  • They cover real life. Many times you can’t pinpoint how or where your piece went missing- that’s why Jewelers Mutual covers mysterious disappearance

Protect your most precious memories by insuring your ring today! Check out Jewelers Mutual for more information on their coverage, and get a free quote today.

Photo by Cimbalik Photography
Photo by Cimbalik Photography

It’s more than a ring. Insure its true value.

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This post was sponsored by Jewelers Mutual. All opinions are our own.


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How to Protect Your Most Precious Memories
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Jessica Bishop Headshot

is the founder of TheBudgetSavvyBride.com, and author of the best-selling book,The Budget-Savvy Wedding Planner & Organizer. Jessica's expert wedding advice and money-saving tips have been featured by Good Morning America, COSMOPOLITAN, Glamour, and more.