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Wedding Ring Insurance Cost

Wedding Ring Insurance Cost

Your wedding ring is your most precious possession and hence, I will give you details about choosing the best wedding ring insurance and guide you about its cost.
Charlie S
Wedding rings symbolize love and a commitment for a long term relationship. It's definitely one of our prized jewelry item and so, getting it insured is certainly a good idea. There are major insurance companies which specifically offer jewelry insurance. When you opt for insurance, considering the wedding ring insurance cost is very important. You need to compare the premium charged by various insurance firms and also check the reputation of the insurance company.


The cost to insure a wedding ring can vary from one insurance company to another. Sources from jewelry insurance industry reveal that it costs anything between $1 to $2 for every $100 to replace the ring. So, for rings priced around $10,000, you will have to pay anything between $100 to $200 to the insurance company. Most insurance companies charge around 1.5% of the apprised value of the ring as the insurance premium. Companies providing wedding ring insurance are known to charge more in areas where incidents of thefts are high.

Insuring the Wedding Ring

Method: 1
One of the ways to obtain a wedding ring insurance policy is to seek it as an extension of your homeowner's policy. Now, homeowner's policy is a policy which insures expensive or valuable items in your home. However, you should remember that there is a fixed upper limit for insuring these valuable items which is set by the insurance company. You can get the wedding ring replaced provided you have a proper ring insurance in place.

Method: 2
Sign up with a company specializing in jewelry insurance. The advantage of such an insurance policy is that you can get replacement for a stolen or lost ring instead of the small compensation in monetary form which you get from homeowner's policy. So, the coverage which you are entitled for is larger in case of jewelry insurance.

Which is a Better Policy?
There are many jewelry insurers and all of them will claim to be offering the best deal in the industry. So, as a customer of insurance, you should be aware of the factors which you need to consider before opting for ring insurance. Here is a list of questions which you should ask the authorities of the insurance firm before purchasing insurance:
  • Are you getting the ring insurance benefits in both cases when it is lost and stolen?
  • Is the insurance cover offered in case of a damaged ring?
  • Is the ring fully insured or partly insured?
  • What is the procedure for claiming insurance benefits for a lost ring?
  • Which are those unusual circumstances under which you may be denied insurance benefits by the company?
  • What is the difference in the insurance premiums for cheap rings and costly rings
  • How much time it takes for getting the replacement of the lost ring?
  • What is the annual insurance cost for the wedding ring?
Having your precious jewelry items insured is always useful and hence you should opt for an insurance policy which caters to your need. Think over this point and take the right decision.