Save the Day! Engagement Ring Insurance is More Important Than You Think

Get ready to plan like a pro.
No one wants to think about losing their engagement ring (shudder) but it’s important to prepare for the worst when it comes to your beloved bling. Luckily, insuring your ring is a super easy process, especially with a user-friendly, trusted platform like Lemonade. Offering a fast, 100% digital service, Lemonade makes protecting your precious bauble a breeze.
Of course, it’s only natural to have questions about ring insurance–what’s covered, what’s not, how much—so we’ve broken down the most important queries to help you get the process started.

What’s covered under engagement ring insurance?

Insurance covers just about every situation that can happen to your ring, including theft, vandalism, fire and (yes, really) explosion. If you accidentally drop your ring down your garbage disposal, you’re covered. If someone swipes your ring from your locker at the yoga studio, also covered. Whew. 
What’s not covered? General wear and tear, meaning that you can’t file a claim just because your ring has lost its luster over the years. Also, certain natural events depending on what state you live in aren’t covered. (For instance, if you’re in California, earthquake damage requires separate earthquake insurance.)

Is my ring already covered under my homeowners or renters insurance policy?

Yes! Your standard renters or homeowners policy already covers your engagement ring (as well as other jewelry you own) up to $1,500. This means that if someone steals your ring, or your diamond earrings, for that matter, you will be reimbursed up to $1,500 to replace your bling. (Accidental loss, however, isn’t covered under a standard policy.) All you need to do to start is submit a receipt or an appraisal that’s less than five years old, make sure to have pictures of your ring handy, and Extra Coverage covers nearly every kind of damage imaginable to your engagement ring, except for normal wear and tear. The best part? There’s no deductible for Lemonade Extra Coverage for jewelry—you’ll get the full value of your ring back to spend on a replacement.

What’s the replacement process?

If the worst actually happens, Lemonade gives you the funds for the replacement cost of your ring, meaning that you would get the amount for what your ring would cost if you were to buy it new today, no matter how long ago it was purchased.

How much does engagement ring insurance cost?

Lemonade’s renters policy starts as low as $5 and their homeowners at $25 per month! Extra Coverage cost varies depending on various factors, including the ring's value, and your city and state.
You spent endless hours dreaming up and picking out your ideal engagement ring—not to mention the time and effort it took for you to get the money for it—so make sure you get it covered. Ring insurance gives you the peace of mind you need so you don’t have to worry about worst case scenarios, which lets you keep the focus on enjoying your engagement. 
Want to get your ring covered? Our friends at can help!
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About the author
Writer living in Santa Barbara, CA.
Get ready to plan like a pro.