The importance of auto insurance and life insurance is common knowledge. However, many couples neglect to consider engagement ring insurance. While you and your beloved are touring photo shoot locations and wedding venues, be sure to set some time aside to compare insurance policies.
Reasons to Get Engagement Ring Insurance
Your engagement ring is a priceless reflection of the love you and your partner share. It’s important to protect it in the event that it is lost, stolen, or damaged. Ring insurance can turn a devastating loss into an identical replacement ring if the need arises. In addition to protecting your engagement ring for sentimental reasons, the financial protection of ring insurance is a compelling reason to start shopping for policies. Many engagement rings are more valuable than everyday jewelry and it could cause financial hardship to replace them out-of-pocket.
Options for Ring Insurance
Shopping for engagement ring insurance doesn’t have to be a complicated chore. If you already have homeowner’s insurance or renter’s insurance, your carrier may already offer a ring rider. However, before purchasing a ring rider from an existing insurance carrier, it may be worth your time to compare policies from other companies. You can ask your jeweler for referrals to ring insurance companies. When you purchase a policy, you will need to provide the receipts and proof of an appraisal from a certified gemologist.
Considerations for Choosing a Policy
Before you purchase an engagement ring policy, you should carefully scrutinize the fine print. Consider the extent of the coverage, such as whether your ring is covered only in cases of theft. Check whether your ring might be covered if it becomes accidentally lost, such as by being dropped down a drain. Scan the policy to determine if there are exclusions to coverage and find out what proof the insurance carrier requires if you make a claim.
At The Glasshouses, you’ll find everything you need to make your special day memorable. Our wedding venues in NYC are gorgeous, customizable event spaces that offer a stunning backdrop of the city skyline for your wedding photography. Call today at 888-836-2911 or visit us online for a virtual tour of our wedding reception space.