So it’s time to pick up the engagement ring from your local jeweller and start getting ready for your special proposal event. Your fiance and her posse have ensured you’ve got the right diamond, style, and mounting. And, you’ve got a great weekend getaway planned to pop the question. Do yourself a favour. Make sure that ring you’ve invested thousands of dollars in is protected with jewellery insurance just in case anything happens.
Most retail jewellers recommend their customers get engagement ring insurance for their customers, but many customers never proceed. They think jewellery insurance is too expensive, or honestly, they don’t know how to get it or it’s simply the last thing on their mind. In this digital age that’s no longer a valid excuse.
It’s easier than ever to get full replacement coverage for your ring in about two minutes from a specialty jewelry insurance company like Centrestone Jewellery Insurance. And it won’t cost you an arm and leg when you’re trying to stay within a strict proposal/wedding budget.
You can get a custom quote from Centrestone Jewellery Insurance for your engagement ring in 60 seconds. You’ll find a $5,000 engagement ring, for example, can be insured for 150% of appraised value with no excess fee in the event of a claim for as little as $17.29 a month. You’ll need to upload a photo from your phone and provide a copy of a detailed sales receipt, an appraisal from your jeweller, or a jewellery lab certificate. That’s it: you’re covered. Plus, you can add your fiance as additional insured at no extra cost. So the minute you give it to her, she’s protected as well.
Getting your ring appraised is important to protecting your precious possession and investment. Wherever you purchased the ring, especially if it’s a local jeweler, should provide you with a certified appraisal. The appraisal provides a detailed description of your ring, including the diamond size (carat weight), cut or style, and color and clarity ratings as a quality measure. The appraisal should also include one or more photos of the ring. These are essential to making sure you get the proper replacement should you have to make a claim.
Once you’ve got engagement ring insurance, storage isn’t as big an issue. You should be covered for loss, theft, damage, or “mysterious disappearance” anywhere in the world. Putting it in a home safe until you put the ring on her finger will probably save you a bit on your jewellery insurance premium. It’s also preferred to stuffing it inside a sock to hide until proposal day. But if you tuck it away in the back of a drawer, try not to forget which one…
In the event of traveling, make sure to create a list of your engagement ring and other fine jewellery you have covered, be sure you have that before traveling. Your insurance policy should provide a sufficient record in case of a claim but it doesn’t hurt to have a backup.
You don’t ever want to check your ring with luggage when flying. Keep it in a safe pocket with your carry-on bag or backpack and keep it with you at all times. If you’re going to a destination proposal or wedding and staying in a hotel, use the room or hotel safe to store the ring.
If a safe is unavailable, your best bet is to hide it on your person. For example, there are things like secret storage books that look like plain old books you might carry on a trip but are designed to hide your valuables from potential thieves. You can also protect your ring from damage, scratches, or even getting tangled up with other jewellery by storing it in a separate pouch or box.
Of course, she’ll want to wear the ring everywhere before, at, and after the wedding on your honeymoon. Getting your fiance as an additional insured on or before the proposal is mandatory, especially if you don’t share the same address yet. That way if anything happens, you know you are both covered.
One more note: don’t have her wear the ring to the beach. Surf and sand are not a great environment for engagement rings since losing a ring while swimming or sunbathing are one of the most common reasons for making a claim.
Most newly engaged women will be wearing their ring 24/7 (except to the beach!). So she may notice some slight discoloration, cloudiness, or a dull shine over the diamond after a month or two. Hand lotions, food preparation, and cooking oils dull the diamond’s shine.
While the ring can be soaked in warm water with a couple of drops of dish soap and wiped clean with a soft cloth at home, you can also use a commercial jewellery cleaning solution about once a month. Do your homework on any jewellery cleanser to ensure it is suitable for your ring’s stone, setting, and metal mounting.
You should get your engagement ring professionally cleaned through an ultrasonic process at your local jeweler about every six months. It also helps ensure that a professional jeweller can check your ring for any loose stones or discoloration. If you bought a warranty with the ring, most would require you to periodically get maintenance with your jeweller.
Protecting your ring with specialty jewellery insurance and good cleaning and maintenance habits will repay your cost and effort with peace of mind and enjoyment for years to come.