Got Engaged? Insure Your Ring.

If you got or are getting engaged, you’ll want to protect that new bling. The average value of an engagement ring is around $5,000, according to a survey from wedding site TheKnot.com, but most homeowners or renters insurance policies don’t cover much of that value if it’s lost or stolen. Policies typically cover a set amount for jewelry if it’s stolen—around $2,000—says Jeanne Salvatore, spokeswoman for the Insurance Information Institute. (That limit typically doesn’t apply in a disaster covered by the policy, she says.) There’s usually no coverage if the ring is lost. So you’ll likely need to get additional coverage for the full replacement cost of the ring. This usually comes in the form of a floater or endorsement, Ms. Salvatore says. Both typically offer coverage if you misplace the ring and don’t have a deductible. If you don’t have homeowners or renters insurance, consider buying a stand-alone policy, says John Egan, managing editor of InsuranceQuotes.com. The Jewelry Insurance Brokerage of North America and Jewelers Mutual Insurance Co. offer such policies. The price of additional coverage or separate policies depends on the type of policy, where you live and the value of the ring. Coverage for a $5,000 ring ranges from about $15 to $100 a year, says Mr. Egan. To get any coverage, you’ll usually need the receipt from a new purchase or, if the ring is an heirloom, a written professional appraisal. *This article is a re-print from the Wall Street Journal. To view the original article, please click here. ____________ Planning a wedding is tough work and there is no need to make it any more frustrating than it inherently is already. Hawaii Wedding Match takes the benefits of social media and applies these benefits to your wedding vendor search. We will help match you with local wedding vendors that meet your location, budget and style requirements through our unique “Get Matched” function. You no longer need to find lists of wedding vendors and call each one, now you can save time and energy by contacting only the vendors that meet your specific wedding criteria and budget. Start planning your wedding in Hawaii TODAY!