Should I Insure My Wedding Ring

It is smart to get coverage for your wedding ring for several reasons. Whether it is for sentimental reasons, the money that has been spent on a particular piece of jewelry, or the unknown dangers, it relieves stress when the loved symbol is safeguarded. Below are a few reasons on why should I insure my wedding ring.
 

PROTECTION AGAINST LOSS 

One cannot wear the wedding rings daily and hence, the likelihood of losing them arises occasionally. Items such as rings are often dropped and can easily fall off while washing hands, swimming, or even during other activities such as exercise. But, apart from misplacing the ring, the constant movement whether on a vacation or a business trip exposes the ring to higher risks of being lost. To have your ring insured implies that in the unfortunate occurrence of loss, you will not be worried about it as it will be covered by insurance.
 

COVERAGE FOR THEFT

It is quite noticeable that stealing jewelry items is pretty frequent and wedding rings, especially, become the main focus of the thefts as they are considered to be small and valuable. This means in case your wedding ring gets stolen you will always have the option of claiming insurance as soon as possible. This coverage enables you to get an identical item to replace your lost one in case it is lost, thus its value will not cost you anything financially and you will be able to get the same design made. 

PROTECTION AGAINST DAMAGE

Rings can be damaged with usage no matter how hardy they are, and this is when they are worn daily. When it comes to protection against damage, then that means you will not have to worry about anything including daily life activities. Insurance can also cater for replacements or repairs to make sure your ring stays as good and shiny as the day you bought it without extra cost. In cases where damages occur, you can get your ring repaired and look like a newlywed without worrying about how you are going to meet the cost of repair. 

PEACE OF MIND

Having your wedding ring insured also can give you significant confidence as much as you trust the company or the wholesaler that you bought it from. You do not have to keep adjusting your ring, being conscious of when you last saw the ring or if it is still in place. It reduces situations when you have to be extremely careful with your ring as a piece of jewelry, and accords you an opportunity to use or wear the ring for sentimental value. No matter whether you are at a large-scale party, in outdoor activities, or just performing daily tasks, one thought is comforting – your ring is safe with being insured. 

FINANCIAL PROTECTION

It is known that ring set can be rather costly, and many of them are priced at thousands of dollars. If the ring provided is lost, taken, or destroyed past recognizance, then replacing it can be quite expensive, and this cuts the flow of holders. Insurance plays a role in managing this risk by ensuring that the cost of replacement or repair is catered for thus offering protection to your investment. For example, you need to financially protect the ring as much as possible if you had saved most of your money to buy it or your partner had gifted it to you.
 

CUSTOMIZATION AND SENTIMENTAL VALUE

Most rings that are exchanged during the wedding ceremonies are either engraved or hold some form of meaning or importance and, therefore, cannot be replaced in the ordinary sense of the word. People’s rings typically provide personal inscriptions, the type of material, or stones that have personal value. Insurance is not able to provide sentimental value however, it allows an individual to replace a customized item or have a new one created similar to the sentimental item. This way if the original ring got misplaced or destroyed one can have the memories and the feelings it depicted. 

TRAVEL PROTECTION

Carrying a wedding ring has extra disadvantages, namely that there are higher possibilities of a ring getting lost or stolen while you are in an unfamiliar area. Often while traveling there are restrictions placed on valuable items covered by your insurance, so it is important to have a separate policy on the ring. This is especially where the ring is to be exposed to some risk such as in the case of a destination wedding or honeymoon. 

FREQUENTLY ASKED QUESTIONS 

Q1. What does a wedding insurance ring cover? 

Wedding insurance ring covers theft, robbery, damage as well as disappearance. Even though these might be the regular options that apply to insurance, they may also differ according to different types of insurance. 

Q2. How much does wedding ring insurance cost? 

Wedding ring insurance doesn’t have to be very expensive as you can choose the one which falls within your budget and requirements. Make sure to do your research properly before you choose an insurance policy or package. 

Q3. How do I file a claim if my ring is lost or stolen?

If you find out that your ring has been lost or stolen, then the best option for you is to make sure that you provide the necessary documentation. Once that has been done, you will be able to claim the insurance that you were looking for. 

CONCLUSION

Insuring your wedding ring is a wise decision that will benefit you greatly in the long run. So, if you’re wondering if should I insure my wedding ring, then you should go through the benefits we have mentioned above. To shop some exciting new rings right away, you should check out Diamonds of London today.