One of the easiest ways to protect the engagement ring is to take out specific ring insurance. This is becoming far more common for people to consider as there isn’t much other protection you can get for this (generally home insurance will only cover this to an extent). The level of cover you can get with ring insurance can be modified to suit your needs. This could include damage and repairs or even loss. Depending on the level of insurance that you take out and the overall price of the ring, this will determine the premium that is due for the cover. Another influencing factor will be the “deductible”. This is the amount of money that will be deducted in terms of a claim. For example, if you are claiming for a lost or stolen engagement ring valued at $5,000 and the deductible is $250, this will be deducted from the claim settlement and you will receive $4,750. If you lose an engagement ring or one gets stolen then it could be difficult to get any replacement ring that has the same sentimental value as the original one, however, the money you receive for this could go a long way in this. In addition, as an engagement ring is normally kept on most of the time, it is prone to be damaged. The insurance cover will allow people to then get immediate support if this does happen and the repairs can be covered (minus any deductible agreed as part of the policy).

People have very different approaches to engagement ring use where some people will never take it off their finger where others will take it off when they go to bed, gym, shower etc. Due to the value of the ring, it is important that if you are one of those people that decide to take it off, you have secure storage. In the home, it is recommended that this could be a fireproof safe and if going to the gym, it may be worth considering not taking it with you and leaving it at the safe in the home. The safest option to keep this safe from being lost is always to keep it on your finger, although some people find this uncomfortable.