You’ve arranged everything for your proposal well and in advance. You’ve concentrated on her style to pick the ideal wedding band, you’ve stayed inside your financial plan and arranged the proposition correctly. Everything is almost perfect.
Nobody really wants to imagine the things that could ruin the joy of an engagement. Yet, anything can happen. The best game-plan is to plan for any eventualities, which is the reason, amidst all the energy and happiness felt for such a fateful event, you ought to consider acquiring protection for your wedding band.
Regardless of the price of the diamond ring, an insurance policy will give you peace of mind knowing that it has protection.
When considering insurance for your precious jewelry, you have these two options:
- Jewelry insurance policies
Naturally, you will want to insure your priceless possession through a specialist. Such insurance agencies usually offer comprehensive coverage. For one, depending on your policy, you will be offered compensation for having a damaged or lost diamond ring replaced, repaired or recreated.
- Renters and homeowners insurance policies
There are home insurance policies that offer coverage for loss of any expensive possession within your property. There are agencies that may offer full coverage for any expensive belongings by having schedule personal property coverage. You will have to inquire about it through your agent.
Now, how to get insurance coverage for your diamond wedding ring, necklace or bracelet? Here’s how:
- Have your diamond jewelry appraised by a graduate gemologist. You will need all the information pertaining to your precious rocks when you insure it. Some insurers allow you to apply for insurance even before the appraisal is completed. What’s important is you have your jewelry insured as soon as possible.
- Find out if your home or your fiancé’s homeowner’s insurance will cover your expensive possessions. If not, you will then need to apply for such policy. You will also need to know whether your home insurance covers mysterious disappearance, loss or damage of prized goods. You should also find out how you are going to file a claim should your diamonds be lost or damaged.
It’s also important to note that each insurer offers different premiums and coverage. Most of all, you should compare each policy to what is being covered. To know whether you are getting your money’s worth, the rule of thumb is to pay $1-$2 for every $100 of the replacement value.
By considering seeking out insurance for such luxurious items, like your diamond accessories, you and you bride-to-be will have confidence knowing your possessions are taken care of.
Infinity Jewellery of London Blog 