Insuring your engagement and wedding rings

You’ve tied the knot (or are about to) and keeping those rings safe aren’t only the job of the ring bearer. It's important to have insurance for both your engagement and wedding rings for peace of mind.

Your contents insurance won’t necessarily cover your rings. They may be something you need to add as individual items, especially if they are expensive. This can usually be done through 'add ons' to ensure your ring is covered as a singular item, this can come at an additional cost.

Most insurers will have a limit to the amount of money you can claim for a single item, so you could risk being out of pocket if your ring is stolen or damaged and you haven't chosen an adequate amount of cover. 

What happened to the ring can also make a big impact on a claim. For example, if it’s lost or stolen outside of your home, you may not be covered.

You might be able to have your insurance cover your rings in full if they are valued correctly and you have declared the replacement value of each item. You should ensure that any valuations you have are up to date, and reviewed regularly. 

To make sure you’re covered, you may want to get your ring professionally valued so you can give your insurer an accurate figure. 

This depends on your level of cover with your home or contents insurance. You can sometimes take out personal posssessions insurance for some items, meaning they’re still insured if they’re get lost, stolen, or damaged outside your home. This type of insurance is an 'add on' which usually comes at an additional cost.

To make a claim, you’ll just need to contact your insurer, whether online or over the phone, and they’ll talk you through your next steps.

You can certainly add your rings under your travel insurance, as long as your insurer allows for it. If not, a standalone personal possessions insurance, or an add on to your contents insurance could provide cover. Either way you should check for any limitations or exclusions before making your decision.

There are a few other types of insurance you could look to get to make sure you’re covered:

• Personal possessions insurance is a type of insurance that covers you for loss, damage, or theft of an item away from your home. 
• Jewellery insurance, provided through your jeweller, ensures that your valuable items are protected. It covers the cost of replacing your jewellery if it is lost, damaged, or stolen.