Is your engagement ring covered?

Over a quarter of women have lost or had a ring stolen and seven out of ten men fail to get engagement rings insured before proposing according to research from Sheila's Wheels.

While nothing can replace the sentimental value when jewellery is lost or stolen, it's important to ensure you don't lose out financially by arranging adequate cover.

The average engagement ring costs £1,412, the insurer claims, but many people forget to get adequate cover in case it is lost or stolen, wrongly assuming it will be included under their home insurance. There is a good chance that it is worth more than your policy's single item limit.

First get your precious jewellery (worth over £1,500) valued by a jeweller, who should give you a valuation certificate. Every three years you should get it re-valued and update your insurance provider if the value changes.

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Then check if it's covered by your home and contents insurance policy.

Ask your insurer to list the ring (or other important item) as a specified item on the policy – the cost will depend on its value. But always check the terms and conditions as they will vary between different providers.

Even if you have got home contents insurance, you might be better off buying a standalone insurance policy through a specialist such as TH March.

Once you've got your insurance, take a photo of the item, as this will help your insurer to process any claim more quickly. Also remember to keep all the original documentation in a safe place.

Finally, if you lose your ring, inform your insurer immediately, and if it's stolen, contact the police and get a crime reference number, as this is essential for a theft claim.

It's also important to avoid leaving all your jewellery in one place, such as a jewellery box, and consider buying a safe to keep expensive items.

Remember, a standard home and contents policy would only cover your ring within the home, so if you want to ensure you're also covered when you're away from home, add personal possessions cover to your contents insurance.

Asia Yasir, spokesperson for Sheilas' Wheels home insurance says it can be easy to overlook the value of family heirlooms and jeweller, so it's vital to get regular valuations.


"It's crucial not to underestimate the cost to replace your entire jewellery hoard – including items you don't wear regularly just as old watches and inherited items which have sentimental value. That's why it's important to have ample contents insurance, to make sure you're fully covered" she adds.

Six ways to ensure valuable jewellery is fully protected against theft or loss

  1. Have expensive jewellery items valued every two years
  2. Tell your insurer about any items of particularly high value, and keep any valuation certificates or receipts in case you need to make a claim in the future.
  3. Take photographs of your valuable items as these can also help insurers to process your claim more easily.
  4. Don’t advertise jewellery to thieves – ideally, when not in use, keep it in a safe or lockable cabinet. 'Safe' places – such as under the bed or in your bedside drawers – tend to be the first places burglars look.
  5. If you are wearing precious items that have been passed down through generations, ensure you get an up-to-date valuation on these and take out additional ‘away from home' cover.
  6. Don’t dismiss jewellery you never wear. Britain's women have a hidden treasure trove of more than £26 billion of jewellery that is rarely worn, or gets forgotten, according to Sheilas’ Wheel. But this should still be taken into account when estimating the value of your home contents.

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To make sure it is covered it is probably worth taking out a policy that allows you to name specific personal items to cover, whether that be a ring or watch or whatever.

You should check whether your insurer will offer to insure single item outside the home up to the insurance valuation of your ring as certainly with AXA they would not cover the cost... so i had to start looking elsewhere...

I have had great difficulty insuring my engagement ring and wedding ring to go on holiday abroad. All the insurance broker could advise is 'don't take them abroad' but it seems madness that I cannot wear my rings on holiday!

 That is true, why you need to buy the wearings if you cannot wear them. Any most importantly what would be the purpose of insurance has left for that item. tificate that can only prove the value of your item to claim after any lose of demge. Word case of insurence do exist in automotive insurence. If you car demaged then they try to repair it if you have insurence, in as much less price as they can. A person watches online claims and description while searching for best policies he can avail, but some time we do not confirm the existence and get issues. 

on our part, we have been married like 10 years already. so we don't have the idea back then that our wedding ring should be insured. nevertheless, it's good to have this idea and i hope that if ever we are pushing it to be insured, it should be still accepted.
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“Over a quarter of women have lost or had a ring stolen and seven out of ten men fail to get engagement rings insured before proposing according to research from Sheila's Wheels. While nothing can replace the sentimental value when jewellery is lost or stolen, it's important to ensure you don't lose out financially by arranging adequate cover.” – I think it happened to many women. But I didn’t know about these ways on how to ensure valuable jewellery is fully protected against theft or loss. Thanks a lot for sharing with us! If we follow these tips I think we can avoid some problems in future.