In most cases, insuring an engagement ring is much more affordable than you think. Which is great, since protecting your jewelry is one of the best things you can do to safeguard yourself from unnecessary heartache (and financial hardship).
So, how much does it cost to insure an engagement ring?
You've found the one you want to marry. Great! Take these four thoughts into consideration when picking an engagement ring before you pop the big question.
Choosing an engagement ring is both exciting and overwhelming. For many brides-to-be, it’s the most expensive piece of jewelry they own.
Combine the sentimental and monetary factors and you can feel a lot of pressure to pick the perfect ring.
One of the major decisions you’ll make when engagement ring shopping is what diamond shape to buy (assuming you’re going with a traditional diamond ring!).
In all seriousness, the answer is probably yes. In most cases, it is financially logical for you to insure your engagement ring.
Insuring an engagement ring typically costs 1-2% of the value of the ring, paid once each year. Some quick math tells us it would take 50-100 years of paying premiums for you to pay more in insurance than it would have cost you to replace your ring.
You researched the 4Cs; you asked your significant other's parents for their blessing, and you made one of the biggest purchases of your life - the engagement ring.
For many, the engagement ring is one of the most expensive purchases you encounter after a home or a vehicle. It's highly unlikely that you'll misplace an entire building or a car, but that tiny, precious ring might be a little nerve-wracking to keep track of.
