Does my home contents insurance cover my wedding ring?
There’s no doubt that losing your wedding ring could leave you with more than emotional scars. It could be a crushing financial blow too, if you don’t have the right insurance.
We don’t have any insurance providers that offer specific engagement ring or wedding 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 £1,500. A wedding ring can easily exceed that – so you must make sure you specify it when buying your home insurance so that it is covered adequately.
You can get that extra peace of mind by naming specific valuable items of jewellery as part of your home contents insurance cover. And you can also take out an extra layer of cover called personal possessions insurance which will cover you for loss or theft outside of the home.
But do bear in mind that if you lose your ring, and make a claim on your home insurance policy you could potentially lose your no claims bonus on your home insurance. So check the terms and conditions carefully to make sure you’re getting the right level of cover that best suits your circumstances.