Once a man has performed the most bold deed in his live proposing marriage, and it was accepted, he has to get ready to another ordeal – what if the engagement ring is unexpectedly lost or stolen? Who can prevent it? Even if a bride has four bodyguards and lives in a walled up castle, she may lose the ring while washing her hands, one never knows. Or her silly puppy can accidentally swallow a nice bauble. Sometimes it happens with engagement rings. So a groom has to foresee all possible complications and to take measures beforehand.

Guided by practical considerations, many people insure engagement rings. There exist several types of insuring engagement rings which differ on annual costs and reimbursement procedure. The most popular policy is actual value insurance that compensates the price of engagement rings minus depreciation cost. That is money is subtracted from the ring’s value according to its time of wearing. This type of insurance is quite affordable, especially if the ring is rather cheap, without big diamonds or high-standard platinum.

Another insurance policy for engagement rings is replacement policy which provides an identical ring (considering its design, metal and gem size).

With valued at policy one sets the value which will be reimbursed in case the ring is lost. This the most expensive and rare type of insurance of engagement rings.

Some people resort to homeowner’s or renter’s insurance to cover possible risks of engagement rings. However, it is useful to know this insurance doesn’t cover any mishap with engagement rings that occurs outside the house. The average reimbursement rate for ring theft equals to $500-$,1000.

Very often one can get all the necessary information about insurance options for engagement rings in the jeweler’s where the ring is bought. The jeweler may be asked for the recommendations concerning policy discounts. Internet can also be helpful.

Having found a convenient insurer, one should ask about the circumstances under which the ring will be covered, the type of settlement (either in cash or in ring replacement) and the papers he has to provide.