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4 Important Insurance Q&A about your new engagement ring

Posted on January 15, 2023

Inner Beauty

Along with showing off your new ring, you’ll want to be sure you protect it from loss.

Our jewelry experts answer 4 important questions about insuring your new engagement ring.


  1. What if I loose my ring? Whether you’ve accidentally left your engagement ring behind on the beach, lost a stone at the gym, or had your ring stolen, ring insurance can offer financial protection and peace of mind when you need it most. With specialized jewelry insurance, your insurance company steps in for you and deals directly with your jeweler.  So how expensive is jewelry insurance? The cost of insuring your jewelry is pennies in comparison to having to replace your pieces again.
  2. How will my ring be replaced? With a jewelry insurance policy in place, you’ll work directly with your jeweler to repair your jewelry or find a suitable (same-kind-of-quality) replacement piece. You won’t have to worry about explaining every detail of your original piece to help your jeweler recreate an exact match. By providing an appraisal, receipts, and any descriptions you have of the original item, you can leave the work up to the experts to provide you with a comparable piece.
  3. Is my ring insured for its full cost? Given how easily a loss may occur, coupled with the financial expense of replacing the piece, insuring your jewelry for its current retail replacement value is important. In the event of loss or damage to your jewelry, you could be under-insured and incur additional out-of-pocket expense for repair or replacement. Therefore, we recommend getting an updated appraisal every three years.
  4. How will I need to prove my ring varnished if a claim is made? Before you start your claim, you’ll want to provide your insurance company with proof of ownership, a short statement detailing what happened, and a police report depending on how the jewelry was lost or stolen.

At Private Jewelers, we are fully insured and have clad-tight records of what’s in our care. We are happy to assist with your appraisal and insurance needs, or just some advice!

Call to book your appointment today.