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Engagement ring insurance

Engagement ring insurance: Finding the best policy for you

Buying or receiving an engagement ring, is an important moment in anyone’s life. Finding the correct level of insurance shouldn’t be difficult. At Highworth Insurance we can offer a range of tailored policies suited to your circumstances, such as inclusion within a high value home contents policy or a stand-alone policy designed around you. Whatever you need from your policy, our experienced advisors can offer valuable advice to help find the best match for you.

With couples choosing to spend more and more on the engagement ring, the fashion for longer engagements and very often romantic proposals abroad, it is critical to make sure the correct level of insurance is in place for that very special ring.

A stand-alone policy for your engagement ring

Stand-alone policies can offer impressive flexibility as well as being ideally suited to those currently not living in their own home. If a stand-alone engagement ring insurance policy is right for you, then we can offer the following benefits, independently from a home contents policy:

Enjoy worldwide cover; especially useful if you’re planning a romantic proposal abroad or honeymooning overseas.

  • Reduce costs by restricting cover to the UK or Western Europe.
  • The right to repurchase a recovered engagement ring subsequent to any claim.
  • No excess to pay in the event of a claim.
  • An immediate quote is usually available for items up to £20,000
  • Insurance available up to £1,000,000 subject to discussion.
  • Policy covers loss, theft and accidental damage.

Our stand-alone engagement ring insurance policy is underwritten by Catlin Insurance Company (UK) Ltd. They are a global insurer with an impressive credit rating. For more information kindly read the key facts and policy wording documents.

Insure your engagement ring within a high value home insurance policy

Traditionally engagement rings should cost one month’s salary, however that is open to interpretation and many people are spending considerably more than this. If you are relying on your engagement ring to be covered by your home contents policy, be aware of a £1,000 restriction on valuables often applicable on standard policies. There will usually be an accumulative cap on all valuables often as low as £5,000, i.e. the total value of valuables claimed for, not single item value.

At Highworth Insurance we are specialists in providing high value home policies, offering cover for precious and expensive items such as engagement rings. We can offer instant cover for rings up to the value of £20,000 and more by referral to our underwriters. Cover includes:

  • All risks cover on a worldwide basis
  • Items worth less than £5,000 automatically covered with no requirement to specify
  • Highly competitive premiums when valuable items are incorporated within a home policy

Important things to remember amidst all the excitement:

Whether you’re nervously carrying the ring around with you everywhere, waiting for that special moment to pop the big question or you are newly engaged and not quite used to wearing a ring on your ring-finger, engagement is a wonderful and sometimes stressful time in your life.

Weddings can take years to organise so don’t put off sorting out insurance thinking that you’ll insure the wedding bands and engagement ring at the same time. If you decide to go all out and stage a romantic proposal abroad, you can relax in the knowledge that the engagement ring is covered anywhere in the world.

It sounds obvious, but make sure it fits, especially if you didn’t choose it together. It’s not unusual for engagement rings to be slightly too big (imagine the embarrassment if he couldn’t get it on your finger!) Many brides-to-be consider they’ll be wearing it for years so will probably grow into it and besides, the wedding ring will act as a ‘keeper’. If this is you, then insurance is vital.

Kindly be aware that not all options are available on all policies and that we recommend carefully checking policy summary and policy wording documents for exact details of the cover applicable to you.

We can also offer cover for extensive jewellery collections. Our most popular high value home policy can cover up to £80,000 of jewellery cover anywhere in the world. We can cover higher sums after a more in depth discussion and referral to our underwriters.

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