Insuring and Protecting Diamond Engagement Rings

It may not be as romantic as proposals and sparkly stones, but when it comes to protecting diamond engagement rings, insurance is something you will have to consider if you want your precious ring to be safe.

One of the best reasons to have your ring made by hand, by a skilled craftsman, instead of picking one out from a store catalogue is that a custom designed ring is draw from scratch, making it fully unique. When creating a new ring, the jeweller will first create a blueprint of sorts, which includes all of the rings information – from stone to carat, sizing, details, dimensions and other important information. In the event that your ring is ever lost or stolen, this makes it a lot easier to replace your ring without losing any of the details or elements that made it unique.

What You Should Know About Engagement Ring Insurance

What should you be aware of when it comes to insuring engagement rings and protecting them against potential risks? Here are a few things to keep in mind for starters…

  • Certification. If your ring has a diamond that is authentic, it will come with certification to prove its authenticity. This certificate will list the stone’s cut, clarity, colour and other details, which will allow you to insure it to its true value.
  •  Appraisals. The value of diamonds does not remain the same, and over time, the value of these precious stones can change. As such, it is essential to have appraisals done annually so that the current value is always included within your certification. If anything ever happens to your ring, this will allow you to claim to current value.
  •  Maintenance. Losing a stone may not be as much of a disaster as losing the entire ring, but it can be distressing none the less. Making sure that your ring is kept in good condition over the years is important. Loose stones, broken settings and other wear and tear that is not seen to quickly can result in individual diamonds being lost. Read our post on caring for engagement rings for further tips on looking after your ring.

When shopping for this very valuable, very special item of jewellery, it is always smart to consider the more ‘boring’ aspects of the process, such as insurance, maintenance and certification. Taking the time to invest in a ring that will not only last you through the years, but also always be worth its true value is the best way to protect your investment for the future.

At Cape Diamonds, we offer insurance replacements as well as custom designed engagement rings that can be made to your preferences and exact specifications. View our gallery to see some of our previous work, or contact our workshop today to learn more about creating your own dream ring.