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Should I Get My Engagement Ring Insured?

Here are some things worth knowing when deciding whether you should insure your engagement ring.

You’ve said yes (congratulations!), shown your friends and family your new ring, and can now move on to the next phase: getting that beautiful engagement ring insured. Wedding planning has to step aside for just a moment because this could be important.

While it’s admittedly far less fun than choosing your big day’s color palette, engagement ring insurance can give you peace of mind for one of the most important pieces of jewelry you’ll ever own.

If you’re wondering should you insure your ring, the short answer is it depends on the value of the ring. For the long answer (as well as how to get your ring insured), read on.

Is Engagement Ring Insurance Right for Me?

Imagine you’ve returned from an outing or vacation only to discover your beloved engagement ring is no longer on your hand as it should be. Or maybe your ring was stolen, got damaged, or lost that beloved heirloom center stone.

These events are devastating, but jewelry insurance can soften the blow by offering financial protection. If your ring wasn’t insured prior to the proposal, now is the time to sit down with your partner and discuss your options.

Whether insurance is right for you depends primarily on two things:

  • Your ring’s monetary value
  • Your ring’s sentimental value

You set the standard for what your ring’s value is when determining whether insurance is worth pursuing. Keep in mind, though, that it can only help you.

Peace of mind is priceless, and a policy honors both your ring’s financial value and the love it symbolizes. Getting your ring insured is easy and affordable; it can vary and might range from $50-$300 per year depending on your ring’s value. 

How Do I Get My Ring Insured?

Maybe you’re already nodding in agreement and thinking this is something you’d like to do. So, where do you begin?

First, decide which type of insurance you want and who offers it.

Jewelry Insurance Companies

Your first option is to insure your ring through a company that specializes in jewelry insurance, likeJeweler’s Mutual. With this option, you can get more coverage than if you do so through other means. For example, if you lose your ring, you may get a replacement ring rather than a payment.

Renters or Homeowners Policy

Your second option is to get insurance through your renters/homeowners policy by purchasing an extension, also called a rider. Keep in mind that although the majority of policies cover items inside your house, they do so only up to a specific value. This is where buying a rider comes in. Note that if you move, you’ll need to add your rider to the policy for your new place. Contact your insurance agent to see what they can do for you. 

Get an Appraisal

After you have decided how you’re going to insure your jewelry, you’ll need your receipt as well as an appraisal from a certified gemologist.

If you would like your Valerie Madison ring appraised, contact us, and our staff gemologist can do an appraisal which can be used by your insurance company. Regardless of which option you choose, remember the golden rule of insurance agreements: always read the fine print.

Seek out a policy that will cover every potential situation, such as theft, damage, and accidents (like running over your ring with the lawnmower or losing it in your sink’s garbage disposal - it happens!).

How Valerie Madison Can Help

Do you have a question related to your jewelry? We would love to help you! use our Contact Us page here

Come into our Seattle jewelry store, send us an email at, or give us a call and we’d be happy to help you.