Does my home insurance cover my engagement ring?
You can simply hope that the ring is covered by your home insurance, but there is often a specific clause in the policy that limits the value for a single item of jewellery. When a man is going to propose he often goes to town with the ring and spends anywhere between one and three months’ salary on the ring itself.
As the typical claim limit for a single piece of jewellery is often between £1,500-2,500, there’s a good chance your engagement ring may simply be too expensive for proper cover on your standard home contents insurance policy unless you have specified it as a higher value item. And with research from Halifax Bank revealing that 15% of women have lost their engagement ring, it’s probably worth taking a closer look at your insurance cover.
We don’t offer a comparison service for specific engagement ring insurance, but most home insurance policies will offer protection for loss or theft to items within your home. But do carefully check the level of cover you have and see if it meets your needs. Some companies exclude personal possessions outside the home altogether, others have strict limits on the amount you can claim for a single item, or for the total claim, and it can be as low as £1,000. An engagement ring can easily exceed that.