You’ve found the one - the perfect engagement ring. Maybe it’s an oval-cut diamond in a bespoke setting, or a vintage-inspired solitaire that stopped you in your tracks. Whatever its shape or story, your engagement ring holds more than monetary value, it’s a symbol, a keepsake, and often, a legacy.
So what happens if the unthinkable occurs?
From accidental loss on vacation to a mysteriously missing ring after the gym, jewelry mishaps happen more often than we’d like to admit. That’s where jewelry insurance steps in, not just as a backup plan but as a crucial part of honoring your investment. In this guide, we’ll walk you through how engagement ring insurance works, what it covers, how much it costs, and how Greenwich St. Jewelers makes the process effortless with our partner, Zillion.
Whether you’ve just received it or have been wearing your engagement ring for awhile, understanding how to protect your investment is essential.
Why Insure Your Engagement Ring?
Emotional & Financial Value
An engagement ring isn’t just a major purchase, it’s also a promise. For many, it’s the most meaningful piece of jewelry they’ll ever wear. And while the sentiment is priceless, the ring itself often carries substantial financial value. That combination makes it uniquely important to protect.
Everyday Risks You May Not Expect
From slipping off in the ocean to disappearing during a move, rings go missing in all sorts of ways. And accidents don’t discriminate, stones can loosen, bands can get bent, and damage can happen when you least expect it. Insurance isn’t about pessimism, it’s about preparedness.
It’s Easier Than You Think
Gone are the days of paperwork-heavy, slow-moving insurance. With partners like Zillion, you can get instant, complimentary coverage as soon as you purchase your ring from G.St. That means you leave the store protected, no stress, no delays, and no surprises. If your ring’s worth protecting, it’s worth doing right away.
What Engagement Ring Insurance Covers
Common Coverage Types
When you insure your engagement ring, you’re not just covering its cost, you’re protecting its story, and the role it plays in your life. Here’s what’s typically included in comprehensive jewelry insurance:
Theft
Whether your ring is stolen from your home, hotel room, or while you’re traveling, theft coverage ensures you’re not left empty-handed emotionally and financially.
Accidental Loss
Dropped down the drain. Lost at the beach. Gone during a move. Accidental loss is one of the most valuable coverages, especially for those who wear their jewelry daily.
Damage
Life happens. Prongs bend, stones chip, and settings wear over time. Insurance can cover repairs or even full replacements if the damage is significant.
What’s Not Covered (Typically)
Most jewelry policies won’t cover:
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Normal wear and tear (think: light scratches)
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Manufacturer defects (this falls under warranties)
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Cosmetic changes (like discoloration from chemicals or lotions)
That’s why it’s smart to combine insurance with proper care and regular inspections—services Greenwich St. Jewelers proudly offers through our in-house experts.
Peace of Mind for Heirloom-Quality Pieces
The real power of ring insurance lies in reassurance. When your engagement ring is protected, you’re free to enjoy it, wear it on every vacation, celebration, and everyday, without worry.
How Much Does Engagement Ring Insurance Cost?
Cost Estimate: 1–2% of Appraised Value
A good rule of thumb? Expect to pay about 1–2% of your ring’s appraised value annually. For example, if your ring is valued at $10,000, your yearly premium might fall between $100 and $200. It’s a small investment for the peace of mind that comes with full protection.
What Impacts Cost
Several factors affect how much you’ll pay to insure your ring:
Location
Insurance premiums can vary depending on where you live. Urban areas with higher reported thefts may see slightly higher rates.
Ring Value
Naturally, higher-value pieces come with higher premiums. This is where appraisals come in, they help insurers determine accurate coverage by stating the jewels’ retail replacement value
Type of Coverage
Full-value replacement plans tend to cost more than actual cash value plans, but they provide a more comprehensive safety net if something goes wrong.
Getting an Appraisal at Greenwich St. Jewelers
Every engagement ring purchase at Greenwich St. Jewelers includes a professional appraisal. This document outlines your ring’s specifications and retail replacement value, exactly what your insurer needs to build your policy. We make the process seamless, so you can insure your ring the same day you take it home.
Where to Get Engagement Ring Insurance
Jewelry-Specific Policies vs. Homeowners Add-Ons
While some people add their engagement ring to a homeowners or renters insurance policy, these general plans often come with limits on coverage amounts, higher deductibles, and longer claim processes.
Dedicated jewelry insurance offers better protection, faster service, and more flexibility. These policies are designed for life’s unpredictability—from clumsy mishaps to serious losses—and can be tailored to your lifestyle and preferences.
Why We Recommend Zillion
At Greenwich St. Jewelers, we partner with Zillion, a trusted, AAA-rated jewelry insurer that makes protecting your ring effortless. Here's what makes them our go-to:
AAA-Rated Confidence
Zillion isn’t just convenient, it’s proven. Their financial strength rating means you can trust that they’ll be there when you need them most.
10-Day Complimentary Coverage
When you buy your ring from GSt, you’ll receive a text from Zillion offering instant, 10-day complimentary insurance coverage. That means your ring is protected before you even leave the store.
Up to $100K Per Item
Zillion covers individual items up to $100,000, which makes it ideal for high-value, heirloom-worthy pieces. If your ring exceeds this amount, we can help you plan ahead for seamless, expanded coverage. If you ever need to file a claim, Zillion keeps the process simple, allowing you to work directly with the jeweler of your choice, so you can repair or replace your piece with someone you trust.
How G.St Makes It Seamless
We’ve integrated Zillion directly into our system, so the moment you finalize your purchase, we can send an insurance quote straight to your phone. With just a few taps, you're covered. No lengthy forms, no third-party chasing, just instant peace of mind.
How to Insure Your Ring Through Greenwich St. Jewelers & Zillion
Instant Quote via Text at Purchase
At the time of your engagement ring purchase, we’ll send you a secure text message powered by our partners at Zillion. From there, you’ll receive a quote and a link to activate 10 days of complimentary insurance coverage, with no paperwork or stress. You don’t even need to download an app.
Coverage Kicks in Immediately
Once you tap the link and accept coverage, you’re instantly protected. If anything were to happen within those first 10 day, before you’ve even left for your honeymoon, you’re covered. You’ll have time to review the full policy, adjust your coverage, and continue protection without any lapse.
This frictionless experience is just one more way G.St provides luxury without pretension, where service meets simplicity.
High-Value Ring Process (Over $100K)
If your ring purchase will exceed Zillion’s $100,000 single-item limit, no worries, just let us know ahead of time. We’ll connect directly with Zillion to begin the extended coverage process, which takes about 24 hours.
To expedite this, you (or your G.St specialist) will provide:
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Full name and contact information
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Anticipated item value
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Timing of the appointment or transaction
Planning ahead ensures a seamless transition from purchase to protection, with zero disruption to your experience.
FAQs About Engagement Ring Insurance
Is it worth getting insurance for an engagement ring?
Absolutely. Engagement rings are both emotionally significant and financially valuable. Insurance offers peace of mind and protects you from unexpected loss, theft, or damage. If you wear your ring regularly—or travel, move, or even garden with it—it’s worth the protection.
Can you claim a lost engagement ring on insurance?
Yes, if you have a policy that includes accidental loss (most jewelry-specific policies do). Be sure to check the details, as some general homeowners policies may exclude this type of coverage or limit the reimbursement amount.
What insurance do I need for an engagement ring?
We recommend a specialized jewelry insurance policy, like those offered through Zillion. These plans are designed for individual items, offer full-value replacement, and handle claims faster and more personally than general insurers.
How long does it take to get engagement ring insurance?
If you’re purchasing from Greenwich St. Jewelers, it can take as little as a few minutes. Once you receive your quote via text from Zillion, you can activate your complimentary coverage instantly. For high-value pieces over $100,000, the process can take up to 24 hours—but with advance notice, we’ll ensure everything’s in place before you leave the store.
