Ring insurance is just like any other insurance. It offers coverage on your ring in case something were to go wrong concerning it. Ring insurance can cover rings or other valuables, usually in the jewelry family. But, it is worth it?
We are here to tell you the basics of what you need to know about ring insurance. This will help you to decide if it’s something that you need. Because you never know when life is going to throw you a curveball. Sometimes, it’s better to be prepared.
Where To Get It
So, if you have homeowner’s or renter’s insurance it is possible to add ring insurance onto that. Most homeowner’s and renter’s insurance policies don’t automatically cover the items stored in your home. Adding this “rider” would be a personal property add-on. Adding on this “rider” will cover your ring and also protect against more risks.
Another route could take is to go to a specialty jeweler’s insurance company. These companies offer many different policies for all types of stones and pieces. Since this would be specifically for your ring, you wouldn’t have to worry about your rates going up on your car, home, or boat if something happened with your ring. It is totally separate.
What It Costs
The good news is ring insurance is almost dirt cheap. The price is determined by the crime rate in the area you live and how much the ring is worth. Most plans cost a measly 1-2% of the worth to be paid annually. That is a teeny tiny price to pay to protect the token of your love.
What It Covers
Make sure before buying ring insurance that you know what it covers. Does it cover theft? Does it cover misplacement of the ring? Does it cover damage? If you’re investing in ring insurance it’s best to get the best bang for your buck and protect against all potential risks.
Is It Worth It
The price of ring insurance is a small price to pay to protect your precious band. Just like your house or your car, your ring is something you want to be protected because even though it’s small it’s a big purchase. So, we suggest comparing prices and plans and finding coverage that works for you.