Whether you recently got engaged or are shopping for a pair of wedding rings as the big day approaches, it’s important to consider jewelry insurance. As these are high value purchases – possibly the most expensive pieces of jewelry you own – you’ll want the peace of mind to wear and enjoy them without worry. Here are five things you might not already know about jewelry insurance, if you’re new to the process.
Check Your Coverage
It’s unlikely that your existing homeowners’ insurance covers a brand new engagement ring or wedding band. Contact your provider with an appraisal, receipt and photos, and ask if the specific item can be added on to your plan, at an extra cost. If that is not an option, look to providers such as Perfect Circle Jewelry Insurance, which specializes in such coverage.
Value Goes Beyond the Diamond
It isn’t just the center diamond or side gemstones that insurance covers. The metal used to create your platinum engagement ring or stylish wedding band, for example, has a high value and should be insured as such. Precious metals may well become more valuable over time, so maintain the quality of your jewelry with regular cleanings and careful wear.
Regular Appraisals Are Important
While your Ritani engagement ring will reach you with a complimentary appraisal, we strongly advise getting your diamond jewelry reappraised around every five years. As markets and trends change, your items should increase in value if taken care of. You want to ensure that any coverage you have is appropriate. When you get an appraisal, be sure to update your insurance provider with any changes.
Keep It Safe
If you store your jewelry in a safe while it’s not being worn, you are more likely to keep the insurance costs down. Take photos of the process, describe where it is in your house – essentially give the insurance provider as many details as you can to show you are taking precautions and not being careless with your valuables.
Learn more about getting your jewelry insured, or shop for the perfect diamond engagement ring at Ritani now.