Insurance for your solitaire engagement ring!

Posted by Divine Solitaires | Post Date : September 23, 2019 | Solitaire Care | No comments yet

We simply love our diamond jewellery, don’t we? Of all the jewellery that we own, the diamond engagement ring is the most precious. It stays on our finger for always, and we remove it only once or twice a day. Given how much you love this ornament, it’s essential to get insurance for your solitaire engagement ring. Your engagement and wedding are among the best moments in your life that should not be marred by worries.

Protecting such an expensive and precious piece of diamond jewellery is a necessity. One can only imagine the financial and emotional loss if the engagement ring is lost or damaged. It is common knowledge that it is difficult to cause damage to diamonds. But here, let’s look into a few situations where insurance for your solitaire engagement ring helps.

Your precious engagement ring needs insurance

The culet of a diamond is always prone to damage. It could get chipped if you wear your diamond engagement ring during rough tasks. The damage won’t be evident until it’s too late. The first couple of times the diamond’s culet is chipped, you may not even notice it. But mind you, even a single tiny chip could change the diamond’s weight.

Diamonds on most engagement rings have a prong setting instead of a semi-bezel setting. Over a period of time, the metal prongs securing the diamond tend to wear away and become brittle. Sometimes, they become loose when they get repeatedly caught in clothing items. This can happen to the prong settings in the best of rings. In any case, the last thing you want is your valuable rock falling off.

Going on a long vacation is a lot of fun. No doubt, your diamond engagement ring will also accompany you. There could be a list of fun activities like some water sports or trekking where you might not want to wear your ring. Keeping it safe from other people there could be a task here. And that might even mean seeing your ring for the last time. That risk remains the same even if you leave the jewel at home.

How to protect your diamond ring?

Finding a good insurance company, a suitable plan and the details are very important. For something as expensive as your diamond engagement ring, the insurance shouldn’t do a flimsy job. Do some research online, ask some family members and friends and get in touch with a reputable insurance company. Before deciding on a plan, having a word with the insurance agent is always recommended.

Firstly, you should discuss what the insurance plan covers. Some plans may only cover damage to the diamond and not the whole engagement ring. In other cases, they may not cover damage as part of their insurance plans.

Next, find out how much premium you should be paying for your diamond engagement ring. A professional diamond appraiser can tell you this properly. It will be calculated on the 4Cs (cut, carat, clarity and colour) of your diamond. Make sure you carry your diamond certificate and other necessary documents along.

Lastly, ask the agent about the compensation or replacement of your ornament. Depending on the company, they may only partially compensate you for the loss of the ring. Some companies may replace the lost ring or might pay you the same amount.

Insurance for your solitaire engagement ring may not seem like the best idea to you at first. But think about it and you’ll realise that it’s worth it. Chances are that your precious ornament will always stay safe and undamaged for a lifetime. But the question is, are we willing to risk it if things don’t go that way?