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Want to know everything about how to insure your engagement ring designs before you purchase it?

Guide to Engagement Ring Insurance

For most people, an engagement ring is the largest investment they have made thus far in their life. Aside from it's symbolic and emotional value, it also can be expensive just like we insure every other expensive things like cars, home etc. you should insure your engagement ring to cover in case of damage, loss, or theft. Insurance policies can cover damage to your expensive engagement ring such as a warped band, twisted setting, or missing stone. In the case of theft, loss or damage to the ring, the policy holder will make a claim. As with other insurance claims for cars or houses, a report is made to the insurance company. The report and incident is investigated and the claim is paid directly to the policyholder.

Many jewelers mostly online, have appraisers on site and have the jewelry store's appraiser make an appraisal of the ring. The appraisal report will state the description, diamond certification and specifications, and value of the ring. When it is signed by the appraiser, this is a legal document. Watch out for jewelry appraisers not affiliated with the sale of the ring, they will charge for their services. In most cases, customers can negotiate the price of the appraisal process with the sale price. You ca also insure by your standard homeowner's or renter's insurance, they have their advantages and disadvantages based on the policy and the provider, understand the policy before you commit to it.

Chubb Group and Jeweler's Mutual are the two companies that provide insurance specifically for engagement rings. Most homeowners'- and renter's-insurance policies carry the ability to add a jewelry rider, which provides for full replacement of the ring with no deductible while taking appreciation into account. The cost with the policy is based on the appraised value of the ring and whether the policy rate will appreciate with the value of the ring. As jewelry made from gold or platinum with diamonds tends to gain value over time, opt for insurance that appreciates with the ring.