Protect Your Engagement Ring With Insurance

Generally no one think of before insuring their cars, health and home but when it comes to engagement ring then they have the question in mind that why they should insure their ring. Always remember that engagement rings are not only sentimental but it is a financial investment also and hence it is good to have insurance for your ring to cover loss or damage.

Why you must have insurance for your ring

Insurance can cover loss, theft and damage of your ring. It is possible that despite you take best care you can easily damage your jewellery but the damage can be covered by the policy. And in case if your ring is stolen and if the police are not able to find it then the proper insurance policy will help you to cover your financial loss. Always remember that no matter how you lost your ring the insurance policy will help you to recover the loss.

How to select the right policy

There are many different types of engagement ring insurance policies. And all the policies differ in terms of payment but it depends on the circumstances of your claim and always remembers that all the policies have different maintenance costs. But before selecting your insurance you must research and compare all the types of insurance and then you must find the right engagement ring insurance policy.

Replacement Policy

Replacement policy is especially for jewellery and this policy helps you to refund the price of the replacing ring under the terms of agreement. You can replace your ring with a new piece in terms of metal, setting and size and that too at current market value. Hence if your ring is expensive then always remember that the replacement policy will pay more for your ring but if your ring is not valuable then you can not claim for the additional investment.

Home insurance policy

Home insurance policies offer you to add value for expensive household items such as jewellery. This policy will help you to protect your ring in case of home related damage or if your ring has been stolen from home. But always remember that this policy will not cover the damage outside the home nor other incidents.

Valued at policy

Valued at policies are one of the most expensive engagement ring insurance policy and it is also very difficult to find. In this case you have to set the value for your ring and if your ring is stolen or lost then the insurance policy will pay the amount that you have set.

Actual value policy

Actual value policies are very common and it is also the least expensive option. In this policy you are paid for your used ring but it also minus the deprecation from its use.

From where you can get insurance

But always remember that not all the companies will offer you the insurance policy. The jeweller who is reputed will only offer you the different types of insurance policy. And if you want to insure your ring then you must buy your ring from the reputed jewellery stores.

Engagement rings are not only financial but it is an emotional investment also and hence you must make sure that you have the right insurance for your engagement ring. By having insurance of your ring you can not prevent loss, theft or damage but you will be assured that your little portion of investment is protected.

The author has written many articles on aspect of engagement rings and helps the buyers in finding unique diamond engagement rings. But if you want more information then please visit http://www.joulediamonds.co.uk.

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