Why don’t some insurers offer engagement ring insurance?

If you’re trying to find out how to insure an engagement ring or if you’re looking for the best engagement ring insurance, you might be wondering why so many insurers don’t offer engagement ring insurance in the UK?

First of all, congratulations! If you’re looking for engagement ring insurance quotes, it likely means you recently got engaged — so congratulations again!

Secondly (and hopefully this will save you quite a bit of time), lots of insurers don’t offer diamond ring insurance or engagement ring insurance (or wedding ring insurance for that matter) as a standalone insurance policy, because diamond rings along with other precious jewellery and watches can be insured under a high-value home and contents insurance policy.

Premium cover without lots of premiums

Adding an engagement ring to your high-value home insurance has multiple benefits:

• You don’t need to waste hours comparing engagement ring insurance quotes or worrying about how much to insure an engagement ring
• You won’t need a separate policy (= less insurance admin)
• You’ll pay less than if you had separate policies

What if I lose my engagement ring?

One of the benefits of diamond ring insurance as part of a high-value home and contents policy, is that you can make a claim even if you don’t know when or how you lost an item. This is particularly handy for lost engagement rings or lost wedding ring insurance claims because you’re probably not planning on taking your rings off, so they’re less likely to be stolen and more likely to be accidentally lost.

What about my honeymoon? Do I need separate travel insurance for my engagement ring?

A high-value home and contents policy covers jewellery (other named valuable possessions) for unrestricted worldwide use. This includes accidental loss, damage and theft wherever you are in the world.

What about bespoke diamond ring insurance cover? 

At Macbeth, we typically use insurers that will let you choose who repairs or replaces a lost or damaged item. This is absolutely crucial if you have a one-off, bespoke engagement or wedding ring because it will be much more difficult to replicate.

Top tip: take photos of bespoke rings in case you need to have them replaced and remade as part of an insurance claim.

Get your engagement and wedding rings revalued every 2 years

Engagement and wedding rings are likely to go up in value. So, if you haven’t had yours valued for a few years, it’s worth getting a valuation and updating your insurance policy. Unfortunately, your insurance policy will only pay out on the value listed in your policy even if the item is worth much more. At Macbeth, we recommend getting jewellery and watches revalued every couple of years.

Jewellery and watches are one of the most commonly underinsured items and we’re on a mission to eliminate underinsurance. So, if now is the right time to revisit your home and contents insurance, or you want advice about how to insure your engagement ring, we’d love to talk to you (even if you don’t choose Macbeth as your broker).

Get a quote for high-value home insurance (and insure your engagement ring at the same time).

Email Nicola or call us today on 0118 916 5480