Belt Insurance Agency
  • Home
  • Quotes
    • Auto Quote
    • Homeowner Quote
    • Life Quote
    • Business Quote
    • Condo Quote
    • Renters Quote
  • Service
    • Make a Payment
    • Update Contact Info
    • Proof of Insurance
    • Contact My Carrier
  • Blog
  • About
    • Staff Directory
    • Insurance Carriers
    • Client Testimonials
    • Refer a Friend
  • Contact

Quick Guide to Insuring Your Engagement Ring

6/8/2017

0 Comments

 
Will you marry me?

No matter how you say it, asking someone to marry you is a huge step in your life and can come with some pre-proposal jitters. Not to add any more stress—but have you thought about what you would do if something happened to the ring? What if you lost it? Or it got damaged? And if that doesn’t make you nervous, think of the reaction of your soon-to-be fiancée when the ring is missing or broken, which could potentially cost thousands of dollars to fix or replace.
According to the Insurance Information Institute, jewelry losses are among the most frequent of all homeowners’ content-related insurance claims, so these scenarios aren’t far-fetched. The best way to protect your high-value, sentimental jewelry is with insurance. Take a look at our quick guide to purchasing insurance for your engagement ring, and give your agent a call so that when you promise, “till death do us part,” you can ensure the same for the ring.

Step #1: Buy the ring and keep the receipt.
Your insurance carrier may require the retail value of the ring before providing coverage, so hang on to your receipt.

Step #2: Call your independent agent.
Your independent insurance agent will guide you through this process including walking you through your options, helping you choose the best policy, and hopefully easing some of your nerves since you can rest assured that the ring will be protected.

Step #3: Get an appraisal.
Your independent agent can help you determine if an appraisal is needed. While a receipt is sufficient for many rings, for more expensive jewelry, your insurer may require an appraisal. The appraisal will examine all diamonds and other stones, as well as the band, to determine the value of the ring, regardless of how much you paid for it. You may also be asked to get an appraisal if the ring is an antique or family heirloom.

Step #4: Raise your limits or add an endorsement.
When insuring your ring, you have two options: raise your limits or schedule the ring as an endorsement. Homeowners and renters insurance policies include coverage for the contents of your home. However, a base homeowners policy typically limits theft of jewelry coverage up to $1,000, or sometimes just $500. Because of this, simply boosting your limits may not be enough to cover your fiancée’s new bling.
Scheduling the ring as an endorsement is another option. Although it may increase your policy’s premium cost, it provides coverage for a broader spectrum of losses. And your policy deductible doesn’t apply; this means that you could replace the ring at no additional cost to you.
When debating how to insure the ring, use your independent insurance agent as an expert resource to help you choose the best coverage for you.

Step #5: Propose!
Confidently pop the question, knowing that if the ring accidentally gets trampled in the midst of your proposal flash mob, tumbles down the stadium seats as your engagement is broadcasted on the jumbotron, or even if your fiancée finishes the slice of cake and never quite finds the ring inside… you’re covered.


Please contact a local independent Grange agent for complete details on coverages and discounts.
References
- Brides.com
- Insurance Information Institute
-
https://www.grangeinsurance.com/tips/guide-to-engagement-ring-insurance
0 Comments

    Contact Us

    (740) 927-1469
    30 S Township Rd
    ​Ste B

    Pataskala, OH 43062
    Click Here to Email Us

    Archives

    October 2022
    September 2022
    August 2022
    May 2022
    April 2022
    March 2022
    February 2022
    October 2021
    August 2021
    April 2021
    January 2021
    December 2020
    October 2020
    September 2020
    May 2020
    April 2020
    March 2020
    January 2020
    October 2019
    September 2019
    August 2019
    July 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    October 2018
    August 2018
    July 2018
    May 2018
    April 2018
    March 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    January 2017
    October 2016
    September 2016
    July 2016
    June 2016
    May 2016
    February 2016
    January 2016

Navigation

Homepage
Insurance Quotes
Policy Service
Insurance Products
Contact Us
​
Agent Login

Connect With Us

Contact Us

Belt Insurance Agency
30 S Township Rd Ste B
Pataskala, OH 43062
(740) 927-1469
Click Here to Email Us

Location

Pataskala Banking Company.jpg by Wdzinc | CC-BY-SA-3.0 | Website by InsuranceSplash
  • Home
  • Quotes
    • Auto Quote
    • Homeowner Quote
    • Life Quote
    • Business Quote
    • Condo Quote
    • Renters Quote
  • Service
    • Make a Payment
    • Update Contact Info
    • Proof of Insurance
    • Contact My Carrier
  • Blog
  • About
    • Staff Directory
    • Insurance Carriers
    • Client Testimonials
    • Refer a Friend
  • Contact