The Jewelry Box


The Jewelry Box Blog

How Much Does it Cost to Insure an Engagement Ring?

on Nov 18, 2019 11:30 AM
How much does it cost to ensure an engagement ring

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?

Engagement Ring Insurance: The Quick Answer

Rates usually depend on where you live. But for most people, insuring your jewelry will cost 1-2% of its value.

For example, a $5,000 ring may cost as little as $50 per year to protect. Curious to see how much jewelry insurance would cost for you? Simply click the button below to get a quote in minutes.

Get a Quote

Engagement Ring Insurance: The Detailed Answer

Simple Rate Calculation

At Jewelers Mutual, our insurance rate calculation is simple. Our coverage costs 1-2% of the retail replacement value of the jewelry item.

Whether it's 1%, 2% or somewhere in between is based on our historical losses for the residential location of the jewelry wearer.

Deductible Options

The other factor that can affect your premium is the deductible option you choose. (Remember, a deductible is the amount of money you have to pay out-of-pocket when you file a claim.)

The higher your deductible, the lower your total annual premium will be. Need help deciding which deductible is best for you? We've got a blog for that.

Policy Minimums

Often, we get asked, "At what value should I start to insure jewelry?"

One factor to consider is the minimum annual policy premium, which is $25 or $30 depending on your state. ($65 in Canada.)

If the rate calculation for the entire policy premium is less than the minimum, your premium will be the minimum for the residential state of the jewelry wearer.


We also offer four different discounts to our policyholders:

  • Security System Discount
  • Vault Discount
  • Gemprint® Discount
  • Valued Policyholder Discount

Curious to see how much jewelry insurance could cost you? It's less than you think. Get a quote in minutes by using the form below.

Get a Free Quote

Rates depend on where you live. But for most people, jewelry insurance costs 1-2% of the value of their jewelry.

For example, a $10,000 ring costs about $100 per year to insure.


im looking to insure. How are your prices lower than the jewelry store? The premium is so low in my mind I question how your company could operate with such cheap rates. How are you able to do so?

Christa parker

In reply to by Anonymous (not verified)

Hi Christa! Thanks for your interest in Jewelers Mutual. We're able to provide complete coverage at an affordable price due to pooling together risks from thousands of individuals. We insure more than 350,000 individuals, covering more than 1.1M pieces of jewelry.

I also encourage you to compare coverage details with the offer you have from your jewelry store. Typically, warranties and service plans have a different level of coverage than a specialty policy like ours does. The best insurance choice is a knowledgeable one!

Please don't hesitate to reach out to one of our experts at 888-884-2424 if you have any other questions.

Chelsea Drusch

How will the company replace the ring—with a check? Or will I be required to purchase a replacement through a specified jeweler?
How will the quality and size of my diamond—and that of a replacement if needed—be documented?
Is the ring insured to full cost or a fraction of it?
How will I need to prove the ring vanished if I make a claim?
Are there any circumstances that aren't covered?

Linda Huang

In reply to by Anonymous (not verified)

That’s a great question, Linda. Jewelers Mutual provides a repair or replacement policy, meaning that if your ring becomes lost, stolen or damaged, we will work with your jeweler of choice (not a replacement company) to replace your ring with the same kind and quality as the original. This is why a current appraisal, evaluation or detailed sales receipt is an important part of getting coverage. Our jewelry insurance experts take note of each detailed jewelry description you or your jeweler provides so that your new piece is indistinguishable from the one that became lost. We will insure the ring for the value you provide to us. Keep in mind that insuring your ring for its current retail replacement value is vital to repair or replacement. Our coverage includes loss, damage, theft, mysterious disappearance (when you just can’t find your ring anywhere and you don’t know what happened), preventive repairs and also worldwide travel. For more information on our coverage, visit… or give us a call at 888-884-2424. We’ll be happy to answer any other questions you may have. Thanks for reading the Jewelry Box blog!

Jessica VandenHouten

Filled out everything did not get qoute

Susan Shenkin

In reply to by Anonymous (not verified)

Hi Susan - I'm sorry to hear you're having difficulties. It looks like you filled out a form to request our Buyer's Guide. For a quote on your jewelry, please go to Let us know if you're still having trouble and we will have someone get in touch with you. Thank you!

Chelsea Drusch

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