RingSafe is designed to keep your ring secure, but that doesn't mean you should forgo things like insurance or that you might never lose your ring because you forget to use the RingSafe.
In the event that you do, here are a few resources we've found that might be helpful to you.
Lost Ring Recovery Services
The Ring Finders - If your goal is to help you get reunited with your lost ring, Chris Turner has a solution for you. The Ring Finders is a directory to help you find a metal detecting specialist to search for your lost jewelry. Once one of these specialists has helped you find your ring, don't forget to get a RingSafe so you don't lose it again.
Before you go about getting insurance, you typically need to have your jewelry appraised. Some insurance companies will provide a recommendation, but if you'd like to locate your own here are two directories to help you find someone near you. As a best practice, you should get your valuable rings appraised every 2 to 3 years to ensure that your insurance policy covers as close to the full value as possible.
Ring or Jewelry Insurance
The typical cost to insure a jewelry item is $2-3/year for every $100 in replacement value. That means a $10,000 ring would carry a $200-$300/year premium.
There are two primary ways to insure jewelry such as engagement rings:
- Add a rider to a Homeowners or Renter's Policy: This is the most common practice, allowing you to extend an existing relationship with your insurance company to get the best deal.
- Get a discrete policy for a piece of jewelry: If you don't have other insurance (consider getting some), you might want to look into a policy for the ring alone.
Regardless of which method you choose, you should budget a similar amount. The more important details lie in the fine print that define things like whether or not you can go to your own jeweler or if the insurance company requires you to use one of theirs, whether you can get cash value or not, etc. The International Gem Society has written a very helpful FAQ and guide on what to ask your jewelry insurance broker before you make a final selection.