Last week we wrote about the devastating effects of losing a prized piece of jewelry. One option to keep in mind is ring insurance, which can be easily added to your homeowner’s policy and provide you with some peace of mind if the worst should happen. And its generally affordable.
Some questions to ask before purchasing engagement or wedding ring insurance:
Questions To Ask Before You Choose a Policy:
* Is the ring covered if you lose it accidentally, or only if it’s stolen?
* How will the company replace the ring — with a check? Or will they require you to purchase a replacement through a specified jeweler?
* What if it’s a vintage ring or other unique piece? How will the quality and size of your diamond — and that of a replacement if needed — be documented?
* Is the ring insured to full cost or a fraction of it?
* How will you need to prove the ring vanished if you make a claim?
* Are there any circumstances that aren’t covered? (What if your ring flies off at the circus and gets trampled by elephants, for example?