Guide to engagement ring insurance

There are several different forms of engagement ring insurance you can buy. Depending on the product and your provider, you can have different rates of cover for different premiums, usually per year if the insurance is strictly for the ring only. If you want the best deal, however, you'll need to shop around.

Types of engagement ring insurance

When you're looking for engagement ring insurance you need to know exactly what kind of protection you want for the ring; are you protecting it if it becomes lost or stolen for your partner, or are you looking for financial protection if you and your partner split and the ring was expensive and you'd benefit from being reimbursed? Whatever cover you need will depend entirely on the type of insurance you buy.

Contents insurance

Sometimes it's possible to get engagement ring insurance as part of your home contents insurance. This is usually the way most people go about insuring rings, but there might be a few companies who don't actually cover engagement rings in their policy. You'll need to check each policy individually, as some may only cover items in the home. If, for example, you contents insurance only covered contents in the home and your engagement ring was lost while you were away or out, you may not be covered.

Provider insurance

If you buy your engagement ring from a specialist shop they'll probably offer you some form of engagement insurance for the ring, anyway. This is always an easy way to ensure your ring is fully covered by any mishaps, but it may not always be the best deal.

Standalone insurers

Some companies specialise in insuring engagement rings, such as TH March in the UK. They can offer you a more specialised quote just for engagement rings, from anything between £30 to £100 per year.

Finding insurance quotes

You can find engagement ring insurance quotes online, just like any other form of insurance. Most online searches will reveal standalone providers, but you may benefit from speaking to your home contents insurance provider (if you have contents insurance) or the store the engagement ring was purchased from to find the best deal possible.

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