An engagement ring often is the most expensive and most meaningful piece of jewelry a woman owns. It is important to have the ring insured in case it is lost, stolen, or damaged.
Homeowners and Renters Insurance.
Homeowner’s and renter’s insurance policies
often cover personal property such as engagement rings.
Unfortunately, the payout for personal property on such
policies is usually around $1000, which may be far less
than your engagement ring is worth. In addition, these
policies often do not cover your ring if it is lost or
damaged.
Covering your Engagement Ring.
Covering your ring is usually as simple as getting an
endorsement or rider added to your homeowner’s or
renter’s insurance policy. An endorsement or rider
is an amendment to your existing policy that covers personal
property beyond the original policy. For an engagement
ring, a floater or endorsement typically will cover your
ring for its appraised value. There are also some companies
that specialize in jewelry insurance. Check out http://www.jewelersmutual.com/pj/
default.htm and http://www.chubb.com/personal/
engagement_ring_pgm.jsp
