Horror of horrors, if you discover that your engagement ring is nowhere to be found! Not only is this a piece of costly jewelry, but it was chosen with utmost care and symbolizes your love. But the truth is, loss is a very real possibility in the flurry of wedding preparations. So, as they say, it’s better to be safe than sorry! See our tips for safeguarding your precious ring from loss before it happens, for replacing it if it’s truly missing, and even for having a “stand in” ring just in case!
Tips to Protect Your Ring and to “Replace” It
Tip #1 – Plan ahead! Inquire about a warranty when you purchase your engagement ring, and check the fine print if loss is covered in addition to damage.
Tip #2 – Ask about a ring replacement plan from your jeweler or check for one in the online stores you are browsing.
Tip #3 – Have your ring insured. Research on an insurance plan for jewelry that protects you against loss of the entire ring, and not just loss of the stone.
Tip #4 – Look into coverage for ring loss as part of your home insurance.
Tip #5 – If you fear you’ve actually lost your ring, stay calm and work backwards from the last time you recall seeing it and retrace your steps from there.
Tip #6 – If you really cannot find your ring, file a claim with your insurance company within 24 hours of noticing the loss.
Tip #7 – If the loss happens just before your wedding day, borrow a temporary ring or purchase an inexpensive ring to wear at the ceremony.
Tip #8 – To avoid loss on your honeymoon, store your actual ring in a safe place and wear a less costly alternative during your travels. That way, your hand need not feel bare but you’ll feel safe!
How Do You Do All These?
To make these ring safeguards more easily accessible, we’ve done a little research for you.
Ring Replacement Plans
Check out these links for companies that offer this option:
Do read the policy terms carefully, though, to ensure that ring LOSS is a ground for replacement. Some companies may only guarantee replacement if your ring fails during normal use because of a defect in material or workmanship or is accidentally damaged from handling. Or they may offer to replace your ring with one that fits, in case your finger changes size. But not all cover loss or theft of the ring or damage resulting from loss, theft, misuse, abuse, or acts of God.
Does the warranty for your ring cover the loss of the entire item or just the stones? From our research via Jewelry Wise: “A jewelry warranty or guarantee usually covers the replacement of damaged or lost diamonds or certain gemstones for a lifetime. Some jewelers offer a warranty or guarantee on the diamonds or gemstones as part of the purchase price, while others may offer it at extra cost.” Note, however, that loss of the ring itself is normally NOT covered by the warranty. This is where ring insurance comes in!
There are companies that offer an insurance plan specifically covering jewelry such as engagement rings. One example is Jewelers Mutual, which covers loss, theft, damage and disappearance. Blue Nile has a partnership with them for this type of insurance.
The cost of insuring your engagement ring will vary depending on the insurance company and what exactly is being covered. The general rule is you may expect to pay $1 to $2 for every $100 of your ring’s replacement value. So, for a ring worth $5,000, you may pay about $100 a year.
Ring Loss Claims Through Home Insurance
It may surprise you to learn that some renter’s and homeowner’s insurance policies can actually include coverage on loss of your ring! Usually, this is up to a certain amount, subject to your policy’s deductible and stated limits on unscheduled personal property. But for full coverage for expensive items like jewelry, ask your insurance company or agent about purchasing scheduled personal property coverage — an insurance policy extension (also called a “floater” or a “rider”) that covers specific listed items, like your engagement ring.
Lovely “Substitutes” for Your Actual Engagement Ring
These 10 ring finds could easily pass for their more costly counterparts—but are happily affordable. The ring prices range from as low as $39.99 to a high of $219.99. So you can wear one in case of the sudden loss of your engagement ring or as a “stand in” during your honeymoon!
Via Zales (*affiliate link)
Via Amazon (*affiliate link)
Via Macy’s (*affiliate link)
Be sure to Pin and Save our Handy Infographic for What to Do!
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