Follow this step-by-step guide to ensure your wedding ring insurance is perfect for your requirements.
Step~1: Gain An Evaluation From A Professional Gemmologist
In case your jeweller does not provide evaluations, ask friends and family for suggestions, otherwise research on-line, for a recommended jewellery appraisal firm. The appraiser that you select will assess the wedding-ring via scrutinising its ring-setting and the diamonds/precious stones that are encased within. In addition to this, you need to submit an official evaluation report and proof of purchase/receipts as evidence to the insurance-agency when the assessment has been complete.
Step~2: Take Pictures As Evidence Of The Wedding-Ring
The evaluation report is a great thing to obtain; however, it is also recommended to provide pictures of the wedding-ring. In doing so, you will be demonstrating real evidence to further its value and proof that you are the owner. Furthermore, it is important to keep original pictures in a file and send copies to the insurance provider.
Step~3: Establish Which Insurance-Policy Matches Your Requirements
Rent and homeowners insurance will provide coverage for the things in your home, however only up to a particular cost. Therefore, it is often a necessity to take out an extension policy for valuable items, also called a “rider”, for private property coverage of higher values. Therefore, contact the home insurance company to find out how much the coverage is and whether it protects the value of your wedding ring. If it does not meet your requirements or if you cannot include rider-policy, then obtain a different policy. Request family, friends and work colleagues for suggestions, and read people’s on-line reviews of every insurance business you assess.
Step~4: Compare Prices and Make Inquiries
It is imperative to make a comparison of the fees of the different suppliers you are thinking about and evaluate general costs of the coverage. You would like to get yourself the right coverage for the right price. Question each provider directly if the information is not clear online, to gain the answers and responses that you’re searching for.
Potential inquiries can include:
- Is my ring protected by this coverage if it is lost/stolen?
- Is the wedding-ring covered at the total price or only a percentage-part?
- If my ring vanishes what evidence do you need?
- How may the insurance company reinstate the wedding-ring?
- Does the insurance company forward a cheque for use in any jewellery shop or does it specify which is available?
When you make comparisons of wedding ring insurance companies, be certain to cautiously read through the fine print of the coverage they provide, that means you do not miss anything that is/isn’t covered and get the complete coverage you need.
Step~5: Choose A Wedding Ring Insurance Company
Trust your instincts, as well as the data you have collected after considering the benefits and drawbacks of the insurance companies you have evaluated. Select a ring insurance contract and the insurance supplier that is perfect for your requirements.
Final Step~6: Forward The Correct Records/Evidence To The Insurer.
When you determine a wedding ring insurance provider, send them photographs of the piece of jewellery, the ring assessment, wedding-ring receipts as well as additional documents required on file. Demands may differ among insurance providers, so always make sure complete the measures that are required to correctly insure this little symbol of love, that has so much emotional and financial value.
Glenn Allen 
Edna Dodd