Valentine’s Day is second most popular holiday to propose. Insuring that important piece of jewelry may not sound very romantic but the peace of mind it will bring is a sweet feeling.
It’s easy! All you need is an appraisal from a certified gemologists as well as your receipts.
It won’t cost you much!- The yearly cost, depending on the policy should be around $1-$2 for every $100 that is would cost to replace. If the replacement cost were $9,000 it would be a reasonable policy to pay around $90-$180 per year to insure the ring.
Options! There are several ways you can insure the ring. You can add a “ring rider” to your renters’ or homeowners’ policy for a certain dollar value to cover the ring. Another option is to have a specific jewelry policy if the total value of jewelry pieces is high.
What to Remember! When shopping read the small print or consult with your local agent. A good policy will protect from such events as losing the ring, damaging the ring and other potentially ring-threatening situations.
Happy Valentine’s Day!