Protecting and Insuring Your Wedding Jewelry

Insuring any high value item is a must, especially wedding and engagement rings!

2015-06-10 08.35.51I just returned last week from my honeymoon, where my wife and I met a ton of engaged and married couples, some of them brave enough to wear their wedding bands and engagement rings on vacation, even sometimes in the ocean and the pool. Bold move!

Personally, we were a little more cautious for our trip. My wedding band is relatively cheap, so I wore it around the resort. My wife’s band is more expensive, so she wore it to dinners and couples events, but it was otherwise guarded in our room safe. And the engagement ring? That was in the safe, all the way back in Media, Pennsylvania under lock and key.

Here are some tips on how to protect these items, from everyday tips to insuring them on your homeowners policy:

  1. Make sure all of your high-valued jewelry is scheduled on your homeowners policy. Yes, there is coverage for your jewelry on your homeowners policy, but that comes at a standard limit. What you really should do is “schedule” the jewelry on the policy. This lists these items by their value or appraised value and insures them for that full amount. If you haven’t done this or would like to, you simply need to have the jewelry appraised, then inform us (or your agent who for some reason is NOT the Drexel Agency), and we can insure the jewelry at its full value. This is great coverage to have for almost any reason from theft all the way down to mysterious disappearance of the ring or even the diamond.
  2. Always have a cheap ring or alternative for trips and vacations. In the past, my wife has used “fake” jewelry for vacations in place of her engagement ring. These types of rings give you the feeling of having your wedding band or engagement ring with less worry over losing it. We met one couple, and the groom wore a silicone ring that cost only $20. This is especially beneficial to him because he is a professional firefighter. However, if you are into cross fit, fitness or organized sports, this is a great idea.
  3. Get a ring finger tattoo? Maybe. I don’t like needles. Your call.
  4. And for the really protective type, as I referenced, we have a safe in our home. Nothing too fancy or expensive. This isn’t Ocean’s 11. But we do have a fire safe lock box, which everyone should have in their home for jewelry, important documents like passports, etc.

If you have any questions or comments, please let us know. And if you want to schedule any thing of value on your policy, don’t hesitate! Call us as soon as you can, and we can quote the coverage on your existing homeowners or renter’s policy.

– Ryan
ryan@drexelagency.com

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