I won’t lie, I’ve never had the honor of proposing before, but I have been proposed to. I said ‘YES’ to my then boyfriend, was engaged for just over two years, and have now been married close to eight years. And only one other thing could have made my proposal story total perfection: Ring insurance. It was the most expensive purchase my husband had ever made in his life, not to mention one of the most challenging — because there’s always that question of “Is this the right ring? Is it going to make him or her happy?” So, insurance was probably nowhere on his radar at the time, but looking back on it, it would have been the perfect complement to my brand new piece of jewelry and all the promises that came with it. Since National Proposal Day is just around the corner (March 20), we chatted with our friends at BriteCo and wound up realizing that you really can’t propose (and feel totally 100 percent about it) without having engagement ring insurance.
Yes, we get it, talking about insurance when you’re gearing up to ask your partner the most important question ever sounds pretty mood-killing. But when you really think about it, presenting your favorite person with the ring of their dreams without crossing all the t’s and dotting all the i’s first is the real bummer. To show them the true depth of your devotion and how “in this” you are, for the long haul, you’ll want to invest in full coverage jewelry insurance. It says this ring isn’t just in the picture to put a label on our relationship, it’s a memento and keepsake to celebrate where we’ve come from, where we are, and where we’re going in the endless years to come.
Speaking as someone who did and does have a track record of misplacing things, had my guy gotten insurance for my ring before he knelt down on one knee, I would have felt so much more comfortable wearing my ring and showing it off to all of my closest family and friends. Instead, for the longest time I would go to social events with my ring safely at home in a ring dish (yep, I was that nervous).
So, in reality, showing up to the proposal with insurance to back up your ring and all of your romantic intentions is the ultimate testament to how deeply in love and committed you are to your S.O. — even (and especially) if they’ve lost important things in the past.
Of course, when you know that you want to propose to your partner, and you’re confident in the decision, things can proceed a whole lot more easily. That’s not to say that the engagement itself will be completely sans stress, though. Any engagement ring is going to be a significant expense; in fact, according to a BriteCo consumer survey, 38% of respondents ranked purchasing an engagement ring as the biggest purchase outside of buying a home or a car in the year 2021. The same survey also found that the median price of engagement rings was $3,250, with 61% of engagement ring buyers paying between $2,500 and $10,000+ for their pieces.
But if you know your investment and your pledges to your partner are safeguarded and protected (via insurance and the love and adoration in your heart), then you can breathe a sigh of relief and prepare for your proposal with much less teeth-clenching tension.
Not only does having jewelry insurance from the get-go eliminate any of the awkwardness that can come with having your fiancé/fiancée’s ring appraised once they’ve already had it on their finger (talk about killing the romance…), it also takes away any of the hassles associated with insurance purchasing once the proposal is already said and done. According to the Insurance Information Institute, most homeowners’ policies cover the loss of jewelry damaged by perils, like fire, water, lightning, or explosion. It may also be covered in instances of vandalism or theft. So, yes, once you’ve acquired homeowners insurance, you can take advantage of that supplementary coverage, but 1) You may not be there yet (buying a house) and 2) Even if you are, typical homeowners’ policies only cover up to $1,500 in jewelry claims. Jewelry-specific insurance helps ensure that you can afford to replace your ring if you ever have to file a claim.
Regardless of how careful and conscious you and/or your partner are, life happens. Your engagement ring can get lost, stolen, damaged, and/or destroyed and the only solace you might have is your existing insurance coverage. Over half of respondents in the BriteCo consumer survey (59%) who purchased jewelry insurance made a claim for lost or damaged rings within the past decade. Without insurance, these couples would have paid out of pocket for a new ring to replace their lost or damaged one. They also would have suffered the emotional loss of such an important, sentimental jewelry piece that represents their story together.
You might wonder if the safety net is really necessary, but given everything ‘unexpected’ that has transpired over the last few years — we’ll tell you that it absolutely is.
“Easy, quick, and reasonably priced, giving me the confidence to have an heirloom diamond reset!” ~ Linda S.
“Super easy process of getting your jewelry insured, they definitely have their process down.” ~ Derek H.
“My experience was great; simple and easy.” ~ Andrew O.
As Wedding Chicks’ preferred ring insurance partner, BriteCo is offering our readers a free, custom quote. So, if you’re popping the question soon, make sure you level up your proposal with full coverage jewelry insurance. Get your free quote from BriteCo now!
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