Groom Issues: Insuring the ring
By Jimmy Horner (WedNet Specialist Blogger for Groom Issues): The Man Registry, http://www.themanregistry.com
Now that you’ve finally found the perfect ring for your bride-to-be, don’t forget that final, but very important, step in the ring-buying process: insurance. There are several ways to handle this. One option is to check out a company that specializes in selling jewelry insurance. To find one, try searching online, in the phone book or simply asking the store where you purchased the ring. Oftentimes your jeweler (especially if it’s a retail store) will have deals, or if nothing else, they’ll be able to recommend a reputable insurer to you. Depending on the value of the ring, insurance should typically run about $50 to $150 a year.
While it’s very important to have some sort of insurance for the ring up front, once the wedding is over, you should also consider other options such as adding it to your homeowner’s or renter’s insurance policy. You may find that these options offer a better deal. Just make sure to keep the appraisal in a safe place so you don’t have to get the ring it appraised again if you switch insurance companies. Remember: You’ve spent a lot of time finding her the perfect ring, so take 10 minutes to make sure you also have a good insurance policy in case something should happen to it.
The Bottom Line: This is an incredibly busy time in your life. My suggestion is to go with an insurance company that the jewelry store recommends. The store may even be able to set it all up when you purchase the ring, making it even easier. This way, it’s taken care of and you won’t need to worry about it again for at least a year.