I just got engaged and I’m worried about losing my diamond ring. Can I buy insurance to protect it?

May 28, 2009 at 5:17 pm

Your diamond ring is probably covered to some extent for loss due to theft under your homeowners/renters insurance policy. However, check your policy. Most homeowners/renters insurance policies have limits for certain types of personal property—including jewelry.

If the value of your ring exceeds your homeowners/renters insurance policy coverage limits, you have a couple of options. First, you can purchase a floater, which will provide you with a specific amount of coverage for your ring based on its appraised value. Or, you can purchase a stand-alone policy that is specially designed to protect valuable items. Keep in mind, however, that your insurance company will most likely require you to have your ring appraised by a certified jeweler when you purchase either a floater or a stand-alone policy.


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