by Angela Cavallari Walker
It’s wedding and engagement season. If you have recently gotten engaged or tied the knot—congrats! I remember the month—heck the first six months after I got engaged. It was as if I was walking on a cloud of love. Corny? Yeah, I know but love is a big life seller and it certainly inspired the best songwriters in history.
Cupid’s arrow is certainly one of the biggest distractions to securing more, very important subjects or topics. Caterer….check, DJ….check…dress…..check, insurance for your engagement rings and wedding bands? That is a box that if, left open, could potentially cost you more than perhaps renting out the wedding venue. Don’t worry, we’ve got tips that are easier than picking out invitations.
Here are 3 tips to insuring your engagement ring, wedding bands and jewelry.
- Get an appraisal from a reputable source. If you just purchased your engagement ring or wedding bands the process is quite easy. You need to have a copy of your receipt or paperwork when you purchased the rings and any certifications related to your rings including Gemological Institute of America or the (GIA). If the ring or rings are an heirloom you will need a professional appraisal. Insurers like to receive documentation from reputable firms such as Jewelers Mutual.
2. Finding Coverage. Believe it or not getting coverage is easier than saying, “I do.” If you are a homeowner, you can simply add a rider or basically an extension to your already existing homeowners’ policy. However, if you are not a homeowner yet it’s a good idea to get renters’ insurance and simply add the extension to your insurance policy.
3. Cost of coverage. The cost is perhaps the lowest you will incur compared to wedding expenses. This will depend on the cost of your rings and other outside factors related to risk such as: crime and break-ins in the area and policy deductibles.
Still have more questions? Feel free to contact Rob Semans Insurance Agency.