The exciting moment you ask your cherished fiancee to marry you is something that you need to always remember. You could consider Engagement Ring Insurance UK If you plan to buy an expensive or luxury engagement and or wedding ring.
One thing we should always not give room to is allowing the exciting moments of our lives to stop or distract us from doing what is right. If you are planning to ask your fiancee or girlfriend to marry you soon or you are planning a wedding.
If the prepared ring for the wedding or engagement party is a luxury one, then you need to make sure it is safe. Sometimes it may not be because of the fun of it or the expenses it saves you from, you need to make sure the item that would always remind you of a beautiful moment in your life is covered from danger.
Furthermore, some partners would not bear to hear that their partner lost their wedding or engagement ring. However, you do not need to have such a partner before you consider coverage for your cherished and valuable item.
This article will guide you through doing that and will tell you all that engagement ring insurance is about.
What Is Engagement Ring Insurance?
While anything that may happen to your engagement or wedding ring can be heartbreaking, knowing it’s properly insured can help to soften the blow. Engagement or wedding ring insurance is a cover meant to protect your luxury engagement or wedding ring against theft, loss, or damage.
If you are thinking of proposing marriage to your partner or you both already are planning a wedding, then you need to make sure that the rings are well insured to avoid any heartbreaking story about their loss or damage.
The intended insurance provision is not meant for just any engagement or wedding ring, you do not want to waste your money. If the wedding ring from your wedding ceremony is quite an expensive one or your engagement ring.
Then you would not want to lose it just anyhow. Even though it must not be because the ring is quite expensive, but also because you want to make sure the memories of your wedding and or engagement are intact.
The beauty of any engagement or marriage or let us say a wedding is a ring on the third or fourth finger. So, if you or your partner should have your rings under insurance coverage, then you can relax your mind and enjoy your marriage.
Engagement or wedding ring insurance is another way of showing and proving to your partner that your commitment level is high. Before you proceed to take a step about something or make a decision, you need to understand what it means first.
Who Needs to Get Engagement Ring Insurance?
If you are just considering or planning with your friends to ask your girlfriend to marry you. Maybe also, if you were just asked the question that makes every woman happy and excited. If also you are planning to wed the person you truly love and cherish.
And maybe finally, you have already done the first three ifs and are already flexing your ring on your third or fourth finger. If you are among the set of people mentioned in the ifs above, then you need to get a cover for those really precious rings.
You do not want to ruin the affection between yourself and your partner simply because of a stolen or lost ring. Some of them may think you do not value them and also do not want a relationship with them.
Therefore, you might have thrown it away or deliberately dropped or taken it off your finger. So if you are a person and you are in a committed relationship with someone and there is a ring or two involved, then this insurance policy and coverage is and would be beneficial to you.
When Do I Need to Get Engagement Ring Insurance?
There is no typical set time for you to get your engagement or wedding ring insurance, the decision is left for you to make. You may decide to take the step when you have just gotten the ring(s).
It could also be on the due day and then it could also be after the day. Sometimes it is most confident and better to get the policy immediately after the ring is purchased. You and your partner may be carried away by the amount of excitement and joy you feel in your heart.
So if you are the man and you are going to the jewelry store with your friends or your partner to check out the ring for your engagement or wedding, you may want to get the policy coverage if you have your way at the moment, just immediately after the purchase.
If you are the woman who is unaware of the plan by your partner, you could just check it out or ask them afterward about the coverage on the ring. It would be really nice and can offer you a premium peace of mind and relaxation if you inquire about the coverage of your engagement or wedding ring.
Why Get Engagement Ring Insurance UK?
There is no special reason why you need to get insurance coverage for your luxury engagement ring. It is not recorded in any law book that it is mandatory by law. But, if you think of the fact that merely losing your engagement or wedding ring may imply something else to your partner and may ruin your relationship.
You do not want to risk losing your valuable and memorable ring, either to theft or accidental loss. What happens if you lose your ring accidentally? If someone steals it away or If it gets damaged? You definitely do not want anything to happen to that beloved, cherished, and valuable rock. Just as much as you would not want anything to go wrong in your relationship or marriage.
What Ring Cover Covers?
There are no additional things or events that your insurance coverage on your ring would protect apart from the loss of the rings, theft, and accidental damage.
Although not so sure if any insurance company has extra covers they provide, you need to go through your policy terms and conditions to be sure.
How Does Ring Cover Work?
Available options to insure your expensive wedding or engagement jewelry may include adding a rider to your current homeowner or renters policy that itemizes the pieces or buying a separate insurance policy.
You may also decide to get a stand-alone cover for the items. Engagement ring insurance does not only cover the amount spent in purchasing the item, it also protects the emotions and happiness of the moment and those to come.
So, if you have studied the preferred style of your partner when it comes to jewelry, and you have chosen a perfect engagement ring for her.
The first big step or second to the question popping is making sure that the happiness will not be ruined. Check out and compare companies that take out engagement ring insurance UK policies and choose the best you want to buy from. Some companies allow for covers to be bought online or most of them do.
You can go ahead and take out the policy and your insurance providers will cover the cost of replacing your ring in the event of theft, damage, or loss, they will give you the monetary value it costs you to get the ring 100%.
How to Get Ring Insurance
You’re soon to be fiance or fiancee may decide to insure the ring as soon as it is purchased and it is still in their possession.
Pretty much like you can decide to insure a car prior to driving it off the lot which is known as “drive away insurance”.
You may not have previously been thinking of the fact that anything could happen to your precious ring, but as soon as it is insured, you will be protected.
Once you have purchased your engagement ring, you or your partner can begin to shop for ring insurance providers.
Engagement Ring Insurance UK Cost
If you do not have homeowner’s or renter’s insurance or maybe you decide that you want to take out an independent or stand-alone cover for your engagement ring,
You can do that through independent companies that are specialists in jewellery insurance like Jewelers Mutual and Zillion and others.
Some policies have deductibles included while some others do not. Those without deductibles tend to always have higher premiums, but they will always reimburse more fully and with less fuss.
In the case of a policy with a deductible, look to see which types of repairs can affect your coverage costs. Another thing to look out for before choosing an insurance provider for your ring is,
Whether the reimbursement is based on the cost of purchasing the item initially or if the reimbursement fee would be affected by an increase or decrease in the cost of the item at the time of reimbursement.
You have to make sure that you know or have the receipt of your ring which contains the cost. The cost of insuring your engagement ring is usually 1% to 2% of the cost of purchasing it.
An increase in cost may be due to deductibles so always check out the conditions of the company.
FAQs About Engagement Ring Insurance UK
Does homeowners or renters insurance cover engagement ring insurance uk?
The answer is yes. but you can cover your engagement ring and other jewelry more comprehensively by purchasing a separate engagement ring insurance UK.
Is engagement ring insurance worth it?
Yes. consider the protection of your happiness, affection and emotions in your relationship.
Does engagement ring insurance cover lost
In a nutshell, it depends. Many people believe that if they already have standard homeowners insurance, they are covered.
Where can i get engagement ring insurance?
You can buy the policy from several independent companies like mutual jewelers and others.
