How To Insure You Diamond Engagement Rings

By Author: Ricardo Lumbardo
Total Articles: 1135
Comment this article

An engagement ring is given to indicate that the couples intend to marry. Most countries have practiced this tradition for so many years, although some of their beliefs differ, the main purpose of giving the ring is still the same from country to country. An engagement ring is a symbol of love and deep commitment and friendships. In the United States the rings are worn only by woman and the rings are made using precious gemstones like diamonds, rubies and emeralds.

These precious stones are very expensive and it is important that one should find a reputable insurance company to insure the rings. Diamond engagement rings are expensive to purchase and having it insured will ensure that you get a replacement in case of damage or theft. You can search for physical addresses of insurance companies within your locality by browsing the local directory; the internet too has websites of insurance companies that you can find informative insights on the insurance policies. Please note that you should read all the details of the policy to make sure that you are fully covered for any damages and theft.

Steps to Take Before ...
... Signing the Policy Document

Diamond engagement rings are very costly and some designers do give a valuation certificate on purchase while others don’t. So when you visit an insurance company, the first thing to be done is to appraise the rings and ascertain its real value. This is done to enable them calculate the premium that you will be paying. This process will also determine the authenticity of the rings as some fake ones also do exist in the market. In case you didn’t appraise your rings on purchase, most jewelry stores do offer the services at some fee. Once that is done then the insurance company will make calculations based on the real value then come up with a figure that you will be paying. This figure can be paid in installments or annually depending on your preference.

It is advisable that you take pictures of your diamond engagement rings, including the duly signed policy documents and keep for your referencing. This is just a precautionary action that will save you a lot.

Do’s and Don’ts

Having the relevant information will empower you to make the right decision so it is very important that you have the relevant details before insuring your engagement rings. For instance if you have two engagement rings and then you insure only one, when the uninsured one gets damaged or is stolen then the insurance firm will not pay for the replacement. You should also ready well the insurance policy and sometimes it’s good to handle the details with your lawyer. Don’t buy expensive diamond engagement rings and leave the uninsured.

To know more on how to get diamond engagement rings and to find beautiful and elegant jewellery, please visit http://www.biggestdiamond.com/.