Skip to content

Article: How to Insure an Engagement Ring

How to Insure an Engagement Ring

How to Insure an Engagement Ring

An engagement ring is one of the most meaningful—and valuable—purchases you’ll ever make. Beyond the emotional investment, it's often a significant financial one, too. That’s why protecting it with engagement ring insurance is essential.

At Teresa and Sons, a leading Montreal jeweller, we always recommend our clients insure their rings, whether they purchase a ready-made or custom engagement ring. Here's everything you need to know to get started.



Why Insure Your Engagement Ring?

Jewelry insurance protects you from loss, theft, damage, or mysterious disappearance. Even the most careful wearers can accidentally misplace or damage their ring.

Without insurance, you could be left paying out-of-pocket for a replacement, often thousands of dollars.



Step-by-Step: How to Insure Your Engagement Ring

1. Get a Professional Appraisal

First, have your ring professionally appraised by a certified jeweller. At Teresa and Sons, we offer official engagement ring appraisals in Montreal, including documentation with:

  • Diamond or gemstone details (cut, color, clarity, carat)

  • Metal type and weight (10K, 14K, 18K gold, platinum, etc.)

  • Photographs

  • Estimated replacement value 

You’ll need this appraisal to get an accurate insurance quote.

2. Choose How to Insure It

You typically have two options:

  • Add it to your home insurance policy as a scheduled personal item

  • Use a standalone jewelry insurance provider 

Standalone policies often offer better protection, including worldwide coverage, loss from mysterious disappearance, and no deductible options.

3. Submit the Required Documents

Most insurers will ask for:

  • The appraisal

  • A sales receipt or invoice

  • Photos of the ring

  • A diamond certificate (if applicable, e.g., GIA or IGI)

Once submitted, your policy can usually be activated within days.

 


 

How Much Does It Cost to Insure a Ring?

Ring insurance typically costs 1-2% of the ring's appraised value annually. For example, a $5,000 ring may cost $50-$100/year to insure, affordable peach of mind. 

 


 

Keep Your Coverage Updated

  • Reappraise your ring every 2–5 years to reflect market value changes

  • Notify your insurer if you make custom changes or add diamonds

  • Store your appraisal and certificate in a safe place


 

Protect Your Investment with Teresa and Sons

Whether you purchased your ring from us or elsewhere, Teresa and Sons is here to help with certified appraisals and expert advice. As your trusted Montreal jeweller, we make it simple to insure your engagement ring and protect your memories for a lifetime. 

Read more

What Is a Ring Appraisal?

What Is a Ring Appraisal?

When you invest in fine jewelry—especially something as meaningful as a diamond engagement ring—you’ll likely hear the term ring appraisal. But what exactly is it, and why is it important? At Teres...

Read more
How to Pair Wedding Bands with Engagement Rings

How to Pair Wedding Bands with Engagement Rings

Choosing the perfect wedding band to go with your engagement ring is a special part of the bridal journey. These two rings will sit side by side every day, so getting the right combination is both ...

Read more