Engagement Rings symbolize the bond a woman shares with her significant other! An engagement ring is irreplaceable because if it is lost or stolen, you can purchase a substitute, but a substitute cannot take the place of your original ring! However, you can receive compensation in the case that something happens to your engagement ring! Therefore, you should keep several things in mind when deciding whether to purchase insurance.
My advice for brides is that you should get your ring insured for a couple of reasons. Firstly, you will have peace of mind knowing that if anything happens, you will be compensated. Secondly, engagement rings have very high value (whether that be high material value or high sentimental value). As a result, although you cannot recover the sentimental value that comes with the original ring, at least you can receive a replacement one that will relieve some of the stress that comes with having your engagement ring go missing!
There is a downfall to insuring your engagement ring: it is expensive. On average, it will cost $1-2 for every $100 that it would cost to replace. Realistically, if you purchase a $10,000 engagement ring, it will cost $100-200 per year for insurance.
Insurance can be expensive, and I am aware that not everyone will be able to afford it. For that reason, the best advice I can give brides is to purchase one or two fake engagement rings to travel with or wear on big nights out! No one will know the difference, and it will save you from experiencing avoidable mishaps when attending locations where you are more prone to have your ring lost or stolen!