For many women, their engagement ring is one of their most prized possessions. Considering the sentimental and monetary value, it’s important to insure engagement and wedding rings right away.
To insure the ring, you’ll want to add a “rider” to your homeowners or renters insurance policy. Standard homeowners or renters policies only provide a certain amount of protection for your jewelry, fine arts, or other valuable collectibles. Adding a scheduled personal property endorsement, or a “rider”, allows you to buy extra coverage for those items.
In most cases, this would protect you if the ring falls off your finger and is lost. Your insurance company would pay you up to the set scheduled limit, without a deductible.
If you don’t have a renters or homeowners policy, contact us at Neckerman Insurance Services. We understand there is nothing more personal that insurance that covers your home, your car, and your valuable possessions.
Related article: Just Got Engaged? What To Consider When Combining Insurance