The Bling Ring

The low-down on ring insurance

After your fiancé puts a ring on it, you might consider putting something on that ring. Below, need-to-know info on how to insure your engagement or wedding ring:

  •  A homeowners or renters insurance policy may help cover the cost of items stolen in your home, but only up to a certain amount. Sheri McCredie of Erwin Insurance Agency says most newlyweds opt for a separate policy, especially when the ring is valued at more than $10,000. “Ensuring the ring should be a high priority,” she says. “But I don’t think most people think about it.”
  • Insurance companies typically require an appraisal on rings valued over $5,000. The appraisal has to be performed by a certified gemologist and will likely entail a small fee—anywhere from $25 to $65. • A good policy should cover lost, stolen or damaged rings. Expect to pay an annual fee of $1-$2 for every $100 of the ring’s value.

— Saphara Harrell

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