Crime rates are on the rise and this calls for concern amongst the general population as we all possess precious items that would cause us to lose a significant amount of money should it be stolen or lost. Smartphones, laptops, cars and even general household items are all important assets that usually cannot be replaced without digging deep into our wallets. With the average American salary being quite low now, and unemployment being another concern, replacing stolen or lost items that were expensive at the time of purchase is often completely impossible. There is a way, however, in which lost and stolen items can be replaced without having to pay the full amount for these products yourself. We are talking about insurance.
Insurance is a service that is becoming more popular as the crime rates rise. With more people being robbed and an increase in burglary reports being seen in local newspapers and on the television, people are turning toward insurance companies to help insure their precious items so that they can claim back lost and stolen items they would not normally be able to replace. Insurance services are often available at relatively affordable monthly premiums, depending on where the insurance is taken out of course, and comes in handy when you become the victim of a robbery.
The Importance Of Insuring Your Engagement And Wedding Ring
When taking out insurance, many people tend to ask the insurance broker to include their standard household items on the insurance policy, and puts an emphasis on insuring some of their more expensive possessions, such as their vehicle, smartphones, laptops and tablets, separately to ensure larger amounts can be paid out in case these products are lost or stolen. While taking out these insurance policies, a lot of people miss the fact that they can also include their engagement and wedding ring on their insurance policy – two items that most likely incurred higher costs than some of the other precious items they have included so quickly on their insurance policy.
Yes, an engagement ring and a wedding ring can be included on an insurance policy, and should be. The average cost of an engagement ring today reaches past $4,000 in today’s world, and losing such a significant amount of money will not be something the majority of individuals who have purchased such an expensive piece of jewelry can afford. Thus, making sure to include an engagement ring and a wedding ring separately on an insurance policy, just as a person’s other precious items like their smartphones and laptops are, should be an essential step to take after getting engaged and married.
In addition to insuring these particular items with the insurer who are covering your household items, your vehicle and other possessions that you hold dear to your hard, a completely separate policy can be taken out at specific insurance companies that specializes in insuring expensive pieces of jewelry. These insurance policies are known as jewelry insurance and usually insure a ring for its real value, while a standard insurance policy may only be able to offer coverage for a certain percentage of the ring’s real value. Thus, if you do possess an engagement ring and a wedding ring, and would like to take out insurance on them, we do recommend searching for a trustworthy company that specializes in jewelry insurance to make sure you get the best value for your money – and to make sure you get a replacement of the same value in the event of theft or your ring being lost.
Conclusion
An engagement ring and a wedding ring is often held dear to a person’s heart. Being a victim of theft and losing these items can not only cause havoc on the meaning of these particular objects, but can also cost quite a large amount of money to replace. For this reason, insuring an engagement and wedding ring should be an important priority for a person right after their get engagement and, of course, then again directly after the wedding.
Photo courtesy of wiseGEEK.
