Feb 21

Wedding Ring Insurance: Things You Need to Know

Although it’s the love and commitment that matters most, you’ll still feel very distressed if you lost your wedding ring. To save you from the heartache of losing such fine jewelry, have your ring insured in case of loss, theft, fire, or any reckless reason like loosened diamond during a water sport. Ring insurance policy varies depending on the value of the ring and the coverage of the insurance. Here are the important points to know about ring insurance.


What Is It?

There are several ways to insure your wedding rings. Ring insurance can be purchased as an extension for your homeowner’s or renters’ policy. Homeowners’ or renters’ policies cover all belongings in your homes, but only up to a certain amount. Expensive items, like your wedding ring, famous art pieces, and electronics, may not be included. To insure these items, scheduled property coverage – a property insurance extension that covers specific items – is required. Another insurance policy option is to insure the ring through a Singapore jewelry company that focuses in jewelry insurance, which usually offers better coverage than standard homeowners’ policy.

Who Needs It?


All couples with proposal ring and wedding rings that have high sentimental and monetary value – whether $400 or $40,000 – should get a ring insurance policy. Securing ring insurance is a way of protecting and honoring not just the financial value of the item, but as well as the sentimental value it represents. The true value of the precious wedding ring in Singapore is the sentiment behind it. Though it’s irreplaceable, the rings themselves can be replaced in case something happens to them, so make sure to insure.

What Are Your Options?

Discuss about the policy options available for you. Prices differ depending on the value of the ring, stones, and disasters that the insurance covers, such as theft, damage, loss, or other unexpected problems. Some insurance reimburses you with a check, which is the best policy option for heirloom or one-of-a-kind jewelry pieces – while some insurance require you to pick a replacement ring from their partner Singapore jewelers.

How it Works?

Provide a receipt and appraisal of your engagement ring. The appraisal can be obtained for a minimal fee from a professional gemologist. Also, when moving after the wedding, make sure that the insurance follows suit. Some couples insure the engagement or wedding ring at the groom’s or bride’s home before the wedding, but forget to include it to their new house’s insurance policy when they move in together.

If there’s no access to homeowners’ or renters’ insurance, there’s another way to secure your ring. Some insurance companies have policies through partner jewelers. Ask your ring jeweler if they have partner insurance companies that offer ring insurance policies. These types of policies can widely vary from company to company, so it’s important to ask questions especially about the scope of coverage provided.


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