Before you got engaged, you didn’t think it was possible to love a piece of jewelry this much. Whether you were completely caught off guard with a proposal or you picked out the ring together, that sparkly bauble is your new favorite thing. Your new ring is also a huge responsibility?and may well be one of the most expensive things you own (gulp!). But as much as you love your new ring, there is always a possibility of losing it, damaging it, or, yes, that it gets stolen.
To protect your ring and your financial investment, it’s recommended that you procure engagement ring insurance so that if you damage one of the stones at the gym or lose it somewhere in the sand on the beach, you can get the ring repaired or replaced.
There are two ways to insure your engagement ring:
Through your homeowners/renters insurance policy: You can add in an extension or a “rider” for your engagement ring on your homeowners or renters insurance policy, which essentially is a one-off item on your policy.

Through a specialty jewelry insurer: If you don’t have homeowners or renters insurance or you are interested in special additional protection, you could also insure your ring through a jewelry insurer. These companies, like Jewelers Mutual, offer more comprehensive plans.

Here’s a breakdown of all the pros and cons of engagement ring insurance and how it can be used to protect that priceless piece of jewelry.
Pro: Insurance Protects Your Investment

The mo...