What is Engagement and Wedding Ring Insurance? 
An Interview with Rita Elias from La Maison D’Or
by Anastasia Marie, Wedding and Lifestyle PR
No matter the price tag, wedding rings are priceless. A physical reminder of the love you share with your partner, your wedding ring seals the deal and its sparkle reflects all of the excitement, memories and happiness that brought you and your partner together.
Though wedding ring insurance may seem stiff and unromantic, purchasing a policy that protects your priceless purchase may be one of the most important things you can do to insure that your rings are with you for years to come.
I sat down with the lovely Rita Elias from Ottawa’s own La Maison D’Or Jewellers at Place D’Orleans Shopping Centre (who worked with my husband before he proposed to me) to get the scoop on wedding ring insurance and why every couple should invest in it.
AM: What is engagement/wedding ring insurance?
R: Engagement ring and wedding ring insurance is very similar to having insurance on your car or home. When you purchase engagement ring and wedding ring insurance you are protecting your valuable pieces against loss, theft or major damage.
AM: Why is engagement/wedding ring insurance important to have?
R: Jewellery insurance is important to have so you can wear your pieces stress-free. Your jewellery or family heirloom pieces are priceless so having that extra security is extremely important. With insurance, you can rest easy knowing that you can wear them daily, leave them at home, or at the gym in the locker etc. Insurance means protection.
AM: What does engagement /wedding ring insurance cover?
R: Jewellery insurance covers loss of diamonds or gemstones, chipped stones, mysterious disappearance, full loss or theft.
AM: Who needs engagement/wedding ring insurance?
R: Everyone who has family heirlooms or pieces over $2000.00 in value are worth insuring on a separate rider, which means that that specific item is covered.
AM: If I purchase a stone separately from my engagement/wedding ring setting, do I need to purchase insurance for the stone?
R: No. When the item is appraised, it will take into consideration the total value for both the center stone and the setting together.
AM: What is the average cost of engagement/wedding ring insurance?
R: The average yearly cost will vary depending on the value of your items. Average yearly costs begin at anywhere from $50.00 to $150.00 per year.
AM: Who do I talk to about getting my engagement/wedding ring insured?
R: When you are looking to purchase ring insurance, it is important to call your home and car insurance providers to see what they can offer you in terms of insurance rates. Don’t forget to shop around to get the best rate before you sign!
AM: What kinds of questions should I ask before choosing the engagement/wedding ring insurance that is right for me?
R: When you’re ready to speak to an insurance provider, some of the questions you should ask are:
What is covered and what is not covered within your insurance policy?
Is there a deductible?
How often do I need to provide an updated appraisal of the jewellery?
Do I need to provide a picture of the piece?
Am I covered while I am on vacation?
Remember, always ask for a separate rider on each piece.
For more information about engagement and wedding rings, or to book an personalized consultation, contact Rita Elias at La Maison D’Or Jewellers. You’ll be glad you did!
