HOW TO BUY WEDDING RING INSURANCE

Buying insurance for a wedding ring, or an engagement ring, is a smart move. You just never know when an accident will happen. Some people don't even lose their wedding or engagement ring out of clumsiness-some simply remember wearing them one day and then never seeing them again. Paying for wedding ring insurance, while it cannot save you from the grief of losing a ring, it can definitely save you the added injury of having to pay well over a $1000.00 dollars for a replacement. Consider the step-by-step process of buying wedding or engagement ring insurance.

Step 1: Speak to an Agent
There are different insurance agents to consider. Some offer wedding insurance, some specifically offer ring insurance, and some can improve upon your regular your homeowner's insurance. (Some large insurance companies offer a variety of different policies pertaining to different areas of life)





Step 2: Get a Ring Appraisals
This is discussed in depth in the next article. Getting a ring appraisal is imperative, as the insurance company cannot simply take your word for it that a ring is worth $10,000.00. They need to have an officially appraisal by a professional and experienced jeweler to begin the process. As you can imagine, this is one reason why fake diamonds scare many professionals—they can look very genuine and thus cost an insurance company thousands of dollars that aren't rightly owed.





Step 3: Document the Ring
In addition to a ring appraisal, you must provide solid evidence in official writing that you received a wedding or engagement ring on a specific date. It is true that some insurance agents will just ask for an application along with an appraisal. Some though, particularly if the ring is high-priced, will require receipts from stores (never throw away your expensive receipts for anything) and maybe even photographs of the wedding ring.

Step 4: Collecting for a Loss
There may come either a time when you lose your ring and want to claim a loss or theft. The step then is simply to call the insurance agency's number and follow the instructions given by the agent. Some companies make this feature available online. If your ring has been stolen you should report it to the police. At this point, depending on your policy,