Should Wedding Rings Be Insured

Should you insure your wedding ring.

Should wedding rings be insured. But when it comes to wedding jewelry engagement rings and wedding bands securing sufficient protection can prove as essential as any other wedding related task. If your ring cost 5000 you might spend 50 100 per year on ring insurance. You can choose to go through your existing renter s insurance or homeowner s insurance to cover jewelry. It certainly doesn t sound as fun as planning the honeymoon.

If you have a loss your insurance company has the option of paying you the appraised amount or replacing the ring. Admin insurance wedding ring insurance why insure your wedding ring falling in love can be a beautiful thing. You split the cost and it s been sitting in a jewelry box for 6 months. Engagement ring insurance is a contractual means of risk management to protect you from financial repercussions in the event of physical loss theft or damage.

One of you paid for the ring and the other probably gets to wear it. Does one policy cover both of you. But when it comes to wedding jewelry engagement rings and wedding bands securing sufficient. There are a few ways to insure your engagement ring.

The cost of insurance depends on the price of your ring. Engagement ring insurance works just like other insurance but covers engagement rings and other valuables. Wedding rings and engagement rings in particular are expensive. One of you inherited the center stone and the other paid for the band.

The average sum spent on engagement rings varies anywhere from 5 900 and up depending on the survey but safe to. How much should you expect to pay for wedding ring insurance. The policies typically extend to. The value of these items is two fold financial and sentimental.

Many plans cover engagement and wedding rings loose stones loss theft and. Along with the wedding costs are the costs that come with buying a wedding ring. Generally the price of insurance is 1 2 of the value of your jewelry or 1 2 for every 100 your ring is worth. Who should be insured.

So the cost to insure a 3 000 ring might range from 60 to 100 a year. If you don t have home insurance or want to compare rates before you insure your ring try a jewelry insurance specialist. And something that expensive should be protected against damage and loss. Whether your wedding and engagement rings are 500 or 50 000 an insurance policy is a way of honoring not just their financial value but what they represent.

But what type of insurance is best for an engagement or wedding ring. Who should be insuring this ring anyway. It certainly doesn t sound as fun as planning the honeymoon.