Wedding Tip: Insure Your Wedding Rings
We’ve all heard stories of people being robbed while on vacation both inside and outside of the country. Tourists and vacationers are easy targets because criminals assume we have money and valuables. Whether it’s a face-to-face robbery or a staff member at your resort stealing from your room, it happens.
Along with insuring your rings consider buying a fake diamond ring if you frequently travel outside the United States. To the naked eye, it’s hard to tell the difference between cubic zirconium, moissanite (lab created diamond), and swarovski crystal, which are all great substitutes for diamonds and can be purchased inexpensively.
Establish the value of your rings by having them appraised by a certified jeweler. Check your homeowners or renters insurance policy which will most likely include coverage for a limited amount of jewelry. The limit of coverage applies to all jewelry you own, so be sure to consider the value of all your jewelry before deciding if that is enough coverage. Compare rates before you insure your ring with your local jeweler or a jewelry insurance specialist. Places like Jewelers Mutual will offer an online quote, so you can compare costs and coverage. Insurance will never replace the sentimental value of your wedding ring, but it can give you some peace of mind and protect your investment.