1. Ring insurance is usually purchased as rider with your renter’s or homeowners policies. Check with your insurance company to see what they offer for ring insurance. If you don’t have a renter’s or homeowner’s policy, check with the jeweler to see if they offer any policies through an insurance company partner.
2. Research what kind of deductibles are available with potential policies and then compare those deductible to the value of the ring to see if the cost is worthwhile.
3. Remember, to get a ring insurance policy, you will need to provide a receipt for the ring and an official appraisal.
4. Important questions to ask your insurance agent:
• Is the ring covered if you lose it accidentally or only if it’s stolen?
• How will the company replace the ring?
• Is the ring insured to full cost or a fraction of the cost?
• What are the steps of making a claim?
5. Read the fine print! A good policy covers everything from theft to dropping it down a drain. Get the policy you can afford but make sure it covers likely scenarios.