In our post today, Lavalier Jewelry Insurance discusses the importance of jewelry insurance for your rings. If you're still deciding if it's worth it, you'll definitely want to read this!
You’re no bridezilla. No, you are a wedding planning BEAST. You got the venue you wanted. Invitations sent, RSVP’s acquired. The food, the DJ, even the honeymoon… all of it planned perfectly. You’ve considered every “what if”, have a Plan B and a Plan C, and a contingency plan for your contingency plan. So, what are you forgetting…?
In the excitement and chaos of planning your wedding, did you remember to get jewelry insurance for your beautiful wedding rings? About 40% of US households that own engagement rings do not have them insured, yet a third of couples consider an engagement ring to be one of their most valuable assets. Why get jewelry insurance? Do you really need it?
Absolutely! Covering your rings with a reputable jewelry insurance provider is the smartest way to protect your investment. Though they may not be the most expensive items you own, they are probably the most priceless - symbolically representing the emotional investment you’ve made with your partner. Wedding rings get lost, stolen, or damaged by everyday activities and are seldom recovered.
A homeowner’s or renter’s insurance policy may not cover your full replacement value (in fact, many only cover $1,000 or so), leaving you to come out of pocket thousands of dollars for an equal replacement. Plus, many brides (even the super-organized ones, like yourself) don’t have a homeowner’s policy since they don’t yet own a home. For all of these reasons, and many more, you should seriously consider a separate jewelry insurance policy for your beautiful new bling. Another advantage of a jewelry insurance policy: a good one will allow you to work with the same jeweler you originally purchased your rings from, as opposed to having to replace or redesign your ring with an “in-network provider” (who you may never meet and who may or may not be as good as your jeweler), as many homeowner’s policies require. Further, if you are in the unfortunate position of having to actually file a claim on your homeowner’s policy, your entire premium may increase, costing you even more money - indefinitely.
So you’re thinking: “Our rings came with a warranty, so… we’re good!” Um...nope. Most warranties cover only manufacturers defects. So they’re no help if you lose your ring, or it gets stolen. And if there’s a hurricane, tornado, or other natural disaster that strikes, you’d better hope the rings are on your fingers or somewhere in the rubble.
Getting an insurance policy you can count on shouldn’t be the last thing on your to-do list. Get your rings appraised, take photos, and get covered. It’s one less thing to worry about as you start your lives together. Live happily ever after, even when life isn’t a fairy tale.
Jewelry insurance through Lavalier is designed to protect all kinds of jewelry, including engagement and wedding rings and family heirlooms. Coverage through Lavalier provides protection for claims on lost, stolen, or damaged jewelry and simply requires basic information on you and your jewelry, as well as an appraisal for each item you wish to insure. For more information visit www.lavalier.com or on Twitter @lavalierllc and Facebook at www.facebook.com/lavalierjewelryinsurance