How to Insure a Ring

A homeowners insurance policy typically includes a limit (ranging from $1,000 to $2,500) for reimbursement of jewelry theft. That’s small comfort if your engagement ring is worth much more. In addition, any deductible will be applied to your claim payment.

What is ring insurance?

Scheduled Personal Property is an optional endorsement you can add to your homeowners or renters insurance policy. It provides greater protection for certain high-value items, such as jewelry, fur, and silverware in the event they are lost, damaged, or stolen. In addition to engagement and wedding rings, other items frequently insured include earrings, necklaces, bracelets, watches, and antique jewelry.

The cost for this endorsement generally runs about 1-2% of the jewelry piece’s value. If your ring is worth $5,000, it could cost you $50 to $100 to insure it.

Contact your insurer to apply for the policy endorsement when you’re ready to insure your ring. You may need to provide an up-to-date appraisal, a photograph of the ring, and a copy of the ring receipt to insure the item.

Some questions to ask about your endorsement:

  • Can you choose where to repair your ring or purchase a replacement?
  • Does it cover damage or just loss and theft?
  • Is your ring insured if you are out of the country?
  • If the value of your ring increases, will the endorsement reflect that?

While insurance can’t replace the sentimental value of a treasured ring, it can provide you the comfort and peace of mind of knowing you will have the ability to purchase a new one.

The information and descriptions on this site are general in nature. The coverage afforded for a particular loss depends on the specific facts and the terms, exclusions, and limits of the actual policy. Nothing on this site alters the terms or conditions of any policy, as the policy controls coverage. Coverage options, limits, discounts, deductibles, and other features are subject to underwriting criteria, state availability, and effective dates. Coverage provided and underwritten by NJM Insurance Company and its subsidiaries, 301 Sullivan Way, W. Trenton, NJ 08628.