If you are frequent on the Internet in the jewelry blogging community, then you must have already come across this recently popular catchphrase. Though a diamond ring insurance policy may diminish the romantic quotient of the entire notion, but it does secure the financial investments in a way that insurance policies before it haven’t. In case that has caught your interest, then here is a little information that can help you decide if you need it to insure your valuables.
Ring Insurance Policies, What Do They Do?
A jewelry insurance policy is no different from your home, car or life insurance policies. It insures select valuables like gold and diamond jewelry. There are other ways of covering for your valuables. You can get them covered under your homeowners or renters’ policies. However, such coverages have certain restrictions. You can only insure a select few items worth a certain value under the blanket of such insurance policies. Alternately, dedicated policies have the advantage of complete coverage. You can choose your own policy and the value of investment you want to get insured. There is nothing else that you have to share the amount with.
Who Needs Them
Anybody who owns expensive diamond jewelry worth hundreds of dollars should get a jewelry insurance. One needs a policy to not just secure the investment, but to preserve the sentimental worth of the artifact too. So, regardless of how highly or moderately your valuables are priced, an insurance is a necessity, to honor the sentimental value they hold. Though that may make the articles priceless in some ways, the insurance will at least make sure that they are replaced in an inimical event in which they get lost or damaged.
The diamond jewelry insurance policies come for a price. One such policy means you will be required to make monthly payments of premiums. However, the catch is ornament insurances cost very little. Such premiums make very little difference to the monthly budgets of single and family users. You and your spouse can take it together or individually, depending upon the status of your relationship. For every $100 of the worth of the ornament chosen, the insurer will pay you not more than $2. It could be anything under that figure, if not exactly that or more. So, if you have valuables worth $5000, you will be required to pay a premium of $50 annually, which is close to $4 a month.