The Jewelry Box Blog

Is Engagement Ring Insurance Worth It?

Is engagement ring insurance worth it?

Getting engaged is one of the most exciting times in your life and your engagement ring is probably one of the most valuable things you will own. Insuring your engagement ring is a great way to ensure you don't have to stress about getting your ring stolen, losing or damaging your ring. 

We teamed up with Blue Nile, a leading online retailer of diamond engagement rings to share our thoughts on why you should insure your engagement ring.

Engagement Ring Insurance: The Rundown

Engagement rings are beautiful and sentimental, so you wouldn’t want anything happening to them. Beautiful engagement rings like those sold at Blue Nile may be one of the most valuab;e additions to your jewelry collection. Your engagement ring is special as it holds more than just monetary value—its sentimental value is priceless. This is why it is important to insure your engagement ring. 

How our Policy Works

We have been insuring jewelry since 1913 and are experts in providing comprehensive coverage to help with your peace of mind. We offer a standalone jewelry insurance policy that is the perfect engagement ring insurance for you. Our policy covers you against things like loss, theft, damage, disappearance, loose stones and worldwide travel. Not included as part of our policy are war and authority, deterioration, critters and intentional actions.

Our policy also goes the extra length to ensure your peace of mind. If the worst were to happen to your diamond engagement ring, we also offer a repair and replacement policy, and will reimburse you the cost of repair or replacement. 

A Small Cost for Peace of Mind 

If you’ve just become engaged, the tidy sum spent on your engagement ring combined with the cost of the wedding means spending more money is probably the last thing on your mind. However, it may come as a surprise that jewelry insurance is not as expensive as you think. The cost of your policy will differ based on the value of your ring and where you live. Generally speaking,  jewelry insurance will cost 1-2% of the value of your engagement ring, so $50 per day if you splurge on a $5,000 engagement ring. You can speak to one of our jewelry insurance specialists to get a clearer picture of the process and get an exact quote. We also offer a free jewelry insurance quote based on your zip code, jewelry type, and value. 

Jewelry Insurance Tips

  • Do your research and make sure the policy you choose has adequate coverage that suits your needs and budget. 
  • Provide a detailed sales receipt or an appraisal with each piece of jewelry you wish to cover and obtain a diamond certificate or grading report.
  • Ask questions and ensure you understand your policy thoroughly.
  • Be careful not to make assumptions that you are covered by your homeowners or renters policy as most don't provide extensive coverage if any! 
  • Start your policy sooner rather than later, you’ll be kicking yourself if something were to happen in the meantime.

Insure Your Engagement Ring Today

An engagement ring is one of those rare items that you will wear every day. It is a symbol of the bond you share and your intention to spend the rest of your lives together. It may also be a special piece of jewelry that you plan to pass down within your family as an heirloom. Losing your engagement ring would be devastating, which is why choosing to insure your engagement ring is your best option. We will be happy to help you protect what’s precious to you and oversee your engagement ring bring you many more years of joy.

Interested in how much jewelry insurance could cost you per year? It's less than you think. Click the button below to check your rate.



There are so many benefits of an insurance policy through Jewelers Mutual, but don't just take it from us! Check out what our policyholders have to say.



This article was guest written by Blue Nile.

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About Jewelers Mutual Group

Jewelers Mutual was founded in 1913 by a group of Wisconsin jewelers to meet their unique insurance needs. Later, consumers began putting their trust in Jewelers Mutual to protect their jewelry and the special memories each piece holds. Today, Jewelers Mutual continues to support and move the industry forward by listening to jewelers and consumers and offering products and services to meet their evolving needs. Beyond insurance, Jewelers Mutual’s powerful suite of innovative solutions and digital technology offerings help jewelers strengthen and grow their businesses, mitigate risk, and bring them closer to their customers. The Group insurers’ strong financial position is reflected in their 37 consecutive “A+ Superior” ratings from AM Best Company, as of November 2023. Policyholders of the Group insurers are members of Jewelers Mutual Holding Company. Jewelers Mutual is headquartered in Neenah, Wisconsin, with other Group offices in Dallas, Texas and Miami, Florida. To learn more, visit