Ask Abby: Insuring Your Rings

Should we insure our wedding rings?

Photo By Allie Marion Photography

Long story short? Absolutely. Most homeowner's or renter's insurance has the option to add expensive items, like your wedding rings, to the policy. Another option is to get Jewelry Insurance specifically for your rings. Insuring your rings isn't nearly as expensive as most people think it's going to be. It normally costs about $1-$2 per $100 paid per year. So if your ring cost $5,000, it'll cost on average between $50-$100 to insure for one year.

Whether your ring is a family heirloom or a brand new freshly minted ring, insuring your rings will give you peace of mind. You can get your rings appraised by a certified gemologist. Then, take your time reading through your options in different policies and see what coverage is offered for various situations. From theft to a freak accident happening that damages your ring, to dropping it down the garbage disposal on accident, you need to choose the best option for you and your fiance!