Home Insurance Leads Anchorage Alaska AK

Reader’s Question:

Is there any way we can insure our wedding ring? We bought it for a fortune and I do not want to blame myself if it gets lost for some reason.

Billy

Anchorage, AK

Having a wedding ring is more than just having a fashion statement. This ring is a symbol of everlasting love and commitment. Insurance is absolutely not the first thing that comes to your mind when you glance down at the wedding ring on your finger. Though insurance can never replace the sentimental value of your wedding ring, it can give you some peace of mind in knowing that it would be covered if something ever happened to it.
Making sure you have proper coverage

Your homeowners/renters insurance policy won’t cover your wedding ring if it is lost. Home insurance or renter’s insurance will probably cover your wedding ring to some extent if it is stolen. since a coverage limit may apply for certain types of personal property, you need to remember that you will need to check your policy. You may want to look into purchasing either a floater or a stand-alone policy if you want to make sure that your wedding ring is covered for loss. You can also do the same if the value of your wedding ring exceeds the coverage limits on your homeowners/renters insurance policy.

A floater can provide the policy holder with a specific amount of coverage for your ring based on its appraised value. When you have a floater, the insurance company has the option of paying the appraised amount or replacing the ring. More often that not, your insurer will replace the ring in case of loss.

A stand-alone policy is designed to protect valuable items. You might probably be required by your insurance company you to have your ring appraised by a certified jeweler if you purchase a floater or stand-alone policy.

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