Wednesday, March 10, 2010

{Sponsor} Whiteflash - Is Your Engagement Ring Covered?

The average engagement ring costs over $1,500 yet many of us forget to get adequate coverage in case it is lost or stolen. While you can never replace your ring’s emotional value, there are ways you can insure its monetary value. Purchasing jewelry insurance doesn’t have to be complicated.

When planning a romantic proposal, insuring a valuable gift is not necessarily the first thing that springs to mind, so we are reminding people to make sure expensive jewelry is fully covered.

First, get your ring valued by a jeweler or appraiser, who should give you a valuation certificate.
Then check if it’s covered by your home and contents insurance policy.

Once you’ve got your insurance, take a photo of your ring, as this will help your insurer to process any claim more quickly.

Finally, if you lose your ring, inform your insurer immediately, and if it’s stolen, contact the police and get a crime reference number, as this is essential for a theft claim.

How to ensure valuable jewelry is fully protected against theft or loss
Have expensive jewelry items valued every two years
Tell your insurer about any items of particularly high value, and keep any valuation certificates or receipts in case you need to make a claim in the future
Take photographs of your valuable items as these can also help insurers to process your claim more easily
Don’t advertise jewelry to thieves – ideally, when not in use, keep it in a safe or lockable cabinet. 'Safe' places – such as under the bed or in your bedside drawers – tend to be the first places burglars look
If you are wearing precious items that have been passed down through generations, ensure you get an up-to-date valuation on these and take out additional ‘away from home' cover
Don’t dismiss jewelry you never wear. This should still be taken into account when estimating the value of your home contents

This is an incredibly busy time in your life. Do yourself a favor and go with an insurance company that the jewelry vendor recommends. The store may even be able to set it all up right then and there. This way, it’s done and taken care of and you won’t need to worry about it again for at least a year. You’ve spent a lot of time finding the perfect ring, take 10 minutes and make sure you have a good insurance policy for it in case something happens.

Provided by Whiteflash

11 fabulous blogger's comments:

Bicoastal Bride said...

Great advice! I absolutely agree.

thehickbride said...

Good advice! And I was right on making sure my ring was covered... My Aunt and Uncle own an insurance business so right after calling them to tell them I was engaged I went "and is my ring covered?" haha Aunty laughed at me and made sure all was good. Nice to have that peace of mind!

Luna said...

good info to know. thanks.

Salt said...

Wonderful advice!!!

Mireya said...

I still haven't insured either of our rings! I'd better get on that!

Giovanna said...

thanks for the reminder. i still haven't gotten insurance.

dognbird said...

Very smart post!

Kristin said...

EEEEK. We've been married for almost 3 years and...

BeerBudgetBride said...

GREAT advice! I told Mr. B not to propose unless that sucker was insured. I'm a klutz!! I'm glad he did too esp. since we got engaged overseas. LOL

Mrs T said...

First thing we did once the ring was on my finger - insurance. We couldn't afford to replace it! I think I'd die if I lost my ring.

Rhiannon Nicole said...

Oh I was thinking of this the other day; I would die if I lost my ring!!! Cute blog here :) xx