Engagement Ring Insurance - FAQs You Should Know About!

Wow! You and your fiancee have finally bought your ring and it's really great. Of course, it was expensive too. But now you are getting worried. And the jeweler has recommended engagement ring insurance. It is not that your fiancee is a regular scatterbrain, but she can be a little careless about removing her rings when she's working (she's a doctor and that kind of makes it ok!).

But what if she simply forgets where she's placed the ring and then she cannot find it again? The very thought of losing it, is giving me a major headache. But there is no need for that to happen. You can easily make sure that you get insurance for your fiancee's ring and protect your investment.

How does this insurance work?

The process is very simple. Just as you would get homeowner's insurance on your home you can also get insurance. You can also add your ring insurance details to your home insurance policy, since you will be storing or wearing it inside your home and that dramatically increases the price of your home insurance policy. If you move after the engagement, please make sure that you transfer the policy with you to your new home and remove it from the old home where it is registered. Also note, though, that all home insurance policies will not cover the entire cost of your ring if it's lost or stolen. A replacement insurance policy is the best choice, as this policy can pay you for a new ring that is exactly the same as the old one and at the current market value.

What do you need for an engagement ring insurance policy?

You have to make sure that you have the receipts and authenticity certificates for your engagement ring ready so that you can apply for the ring insurance. You will also have to get a ring appraisal done to estimate the price of the ring; the appraisal determines the money that you will have to pay for your insurance policy.

Can jewelers also provide insurance?

Yes they can. Jewelers also have insurance policies by which they maintain your engagement ring and cover it with insurance. Your engagement right will be protected, but the coverage provided by these different varieties of engagement ring insurance policies may differ. Find out exactly how much you have to pay for insurance and what is offered as compensation when you lose your ring before you commit to the jeweler's policy.

Do I need separate engagement ring insurance?

Yes you do. The simple reason for this is that male rings use a larger amount of gold than female rings. This disparity can be balanced by women using more stones in the rings; but on the whole, most jewelers advise that you take on separate ring insurance to protect your engagement rings.Insurance is also common in the form of a VALUED AT PRICE policy; in this type of insurance, you can set the value of your ring at a higher rate and then pay the premiums. You will be paid back the higher amount that you have set for your engagement ring with this useful insurance policy.

We hope this simple engagement ring insurance policy guide has helped you find what you are looking for.

You can find deals on engagement ring insurance here.

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.