So you have planned everything as perfect as you want it to be. You even carefully studied and followed her style so as for you to choose the perfect Engagement Ring for her. You have stayed within your budget and planned the proposal specifically for you to have to have that wonderful moment in your life as a couple.

At that very moment, no one wants to consider the things that might ruin the perfect moment. Although the truth is, anything can happen at any moment. Thus, the best way to do is be prepared for anything. Therefore, in the middle of all the Engagement excitement and bliss, getting an insurance policy for your engagement Ring may appear to be unromantic. But nothing is sweeter than a piece of mind. So don’t forget to mark off this important task on your wedding planner’s to-do list. The love and commitment that your ring symbolizes are equally important as its material worth, which is why whatever is the value of your engagement ring, getting an insurance for it is a must. What if it suddenly it gets stolen, accidentally lost, damaged or just mysteriously disappeared. It is better safe than sorry. If you have plans on getting one now or in the future, below are some of the information you need to know about how it works.

Homeowner’s Policy or Renter’s Policy

This is the most common way to insure your engagement ring. You can choose to avail of the extension also called the “rider.” However, the coverage of a Homeowner’s Policy or Renter’s Policy is limited to a specified amount. The losses covered are also limited to the covered risks on the policy. With that being said, if ever you lost your engagement ring in a flood after a typhoon, it would not be covered on this policy because it is caused by a rising water which is a circumstance that is covered under the flood insurance.

There are also deductibles on this policy that would mean, the full value of the engagement ring would not be fully covered or even a replacement value.

Scheduled Personal Property Coverage

This is an insurance policy extension that covers a higher coverage limit for specific items that are expensive or sentimental like engagement rings, art, or even electronics. This covers loss, theft, damage, and repair. This will ensure that your ring is covered inside and outside of the home.

Jewelry Insurance

Jewelry insurance provides coverage if your ring is accidentally lost, damaged, stolen, or just suddenly disappears mysteriously. Jewelry insurance companies offer a full coverage that goes above and beyond what your standard homeowner’s or renter’s policy can cover. A jewelry insurance can cover the full value of your engagement ring, purchase coverage that goes with you anywhere you go. You must choose a jeweler who will provide repairs or replacements. Is there anything better than getting a replacement ring of the same kind and quality of the original in case of loss or theft.

If you are still in doubt whether an insurance for your engagement ring is a need, then better ask yourself again. But if you want to just pay for the cost to repair or replace the ring on your own, you may not feel the need to get one. However, if your engagement ring is of substantial value either monetary or sentimental or both, and you want to be certain that you can have it repaired or replaced, it would be beneficial to consider having the engagement ring insured.