How Can You Insure Your Engagement Ring?


Quick Answer

Engagement rings are generally covered under extensions to homeowners insurance or under specific jewelry insurance that may sometimes be available where the ring was purchased. It is recommended that consumers get quotes and compare policies from several insurers before purchasing any insurance policy.

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Full Answer

Jewelry and other expensive assets may only be covered up to a certain dollar amount in standard homeowners insurance policies. Additional coverage may be added to a policy by adding a "floater" or "endorsement." This additional coverage may cover the full value of any specific items, such as an engagement ring, and adds to the price of the policy. Individual jewelry insurance purchased to cover specific pieces of jewelry may offer more benefits than standard homeowners insurance. Compare the benefits of different policies when comparing premiums to identify the best value.

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