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An engagement ring signifies an exciting new beginning with your loved one, so it’s wise to protect it.
Although insuring your gorgeous new engagement ring might not be a top priority for you after landing ‘The One’, it might just be one of the most important decisions you’ll ever make.Whether it is a case of clumsiness over the kitchen sink, or losing your ring while whilst on a honeymoon adventure, there are loads of unforeseen ways that you might end up in a bit of a hiccup. Thinking ahead and getting cover for such an important piece of jewellery should definitely be at the top of your mind.
Thankfully, purchasing insurance for jewellery, such as an engagement ring, can help offer some peace of mind if something bad happens. This post will fill you in on everything that you need to consider a policy for your engagement ring.
Before you sign the dotted line on any jewellery insurance policy, it’s important to understand what is covered. If you don’t clue yourself up about the ins and outs, you might leave yourself—and your engagement ring—vulnerable to buying a policy that does not fully cover you and your needs. Know your excess, learn about the process for making a claim and cover all situations that are and are not covered.
If you travel a lot, for example, it’s important to have coverage abroad, as well as at home. Also, make sure that everything on the policy makes sense to you so that there will never be a situation where you think you are covered when it turns out that you’re not.
Something that you may not have considered, is who you’re getting your ring cleaned by. Unfortunately there are some jewellers out there that are less than reputable—however, at Q Report we can guide you in the right direction with Q Certified Jewellers who will look after your piece as if it’s their own.
Once you have found suitable coverage for your engagement ring (like the policies at Q Report), it is important to keep everything updated. This includes things like ring valuations or any modifications made to the piece. If you don’t keep the policy current, then you run the risk of not getting a full payout (or any payout at all), if you ever need to make a claim.
If you’re looking for a way to keep your jewellery safe, Q Report’s comprehensive, tailored jewellery insurance might be right for you. Find out more here.
This article is advisory in nature and is offered as a resource to be used together with your professional insurance advice. It is an overview only and is not intended as a substitute for consultation with your insurance advisor or other professional advice.
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