Engagement is one of the most exciting times of any couples’ life. It means a life time of dedication and love and it is marked on the girl’s finger by a beautiful, sparkly ring. For many girls the ring is a significant and much treasured part of the entire marriage processed from the “yes” to the “I do” to the rest of their lives. The guys know this and that is why they put extra time and effort into saving for, picking out and purchasing the most perfect engagement ring for their soon to be fiancé.
Engagement Ring Insurance Companies
Engagement ring companies also know the importance of the ring and how much pressure is on the guy for getting the most unique and perfect one, which is why the costs for engagement rings can exceed hundreds of thousands of dollars. This of course, opens up the market for engagement ring insurance companies. Anything that costs a significant amount needs to be insured just like a car or a house.
Many engagement ring stores (or jewelry stores in general) present to the buyer an insurance option that protects the buyer and ring wearer in case the ring gets lost, stolen or damaged. The insurance costs for the ring can vary just as much as the cost of the ring itself and each insurance company has different payment policies.
The best way to find the engagement ring company that suits your needs the best is to do an overall online search. This is a good primary search strategy because it will give you an idea of what is out there and what your options are in the broad spectrum. The online sources will also give you a good idea of how much engagement ring insurance cost and how much it varies from one company to the next.
When picking the company that you want to have covering your engagement ring, consider the cost of your ring and how much you are willing to pay monthly to have it protected from damage and loss. Many times you do not even need to pick a separate insurance plan but rather add the engagement ring insurance as an extension of your home or car insurance.
Engagement Ring Insurance Costs
As far as the costs go, they of course always vary. However, generally speaking most engagement ring insurance companies charge anywhere between 1 to 2 dollar for every 100 dollars that it would cost to fix or replace the ring. So essentially how much you pay for monthly insurance depends highly on how much your ring cost to begin with. There is of course much variability to this cost. For example, if you live in an area or city where risk of theft is assessed to be higher than in an average city in the United States (or other countries you may live in) then you can expect to pay slightly more a year than the average engagement ring insurer. In general the expected price can be anywhere between 90 – 200 dollars a year.
Engagement Ring Insurance continued
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