Best Engagement Ring Insurance Companies

We chose Jewelers Mutual as the best engagement ring insurance company because it’s one of the most reputable. The company was founded in 1913, and after more than 100 years in business, it has received support from prominent jewelry organizations like the American Gem Society and Jewelers of America.

Engagement ring insurance from Jewelers Mutual costs between 1% and 2% of the ring’s value. The company covers all types of engagement rings, with flexible coverage limits and the option for a zero-deductible policy. You can get a free quote online to see your personalized rate. 

If your ring gets lost, damaged, or stolen, you can file a claim online or by calling an agent during business hours. You can also make basic changes to your coverage through the online customer portal. 

Keep in mind that you don’t need an appraisal to purchase engagement ring insurance from Jewelers Mutual, but you will need an appraisal or a receipt to file a claim. But you'll have to get your own appraisal as Jewelers Mutual doesn’t offer free valuations.

If you want to get engagement ring insurance quickly, check out BriteCo. You can get a quote online in just 60 seconds, and you can complete the checkout process without contacting an agent. BriteCo also has flexible payment plans with the option to pay monthly or annually.

BriteCo’s engagement ring insurance covers your items on an all-risk basis, which includes many causes of loss including disappearance, theft, and damage. The coverage limits are flexible, and there are no deductibles. We also like that preventative maintenance is covered so if your diamond gets loose or a prong gets bent, BriteCo will pay for the repairs.

Another perk of BriteCo is that standard policies include market value increase coverage. So if you experience a loss, the company will pay up to 125% of the appraised value to replace it, which maximizes your payout. Filing a claim with BriteCo is easy through the website.

BriteCo is one of the most popular jewelry insurance providers, but the biggest downside is that you need to get your items appraised before you can purchase coverage, regardless of the ring’s value. The company doesn’t offer free appraisals, so you’ll need to visit your jeweler to get one.

Lavalier is our top pick for high-value engagement ring insurance because you can get coverage for individual rings up to $50,000 and up to $150,000 for multiple rings. We also like that Lavalier lets you work with your own jeweler for repairs and replacements. 

Lavalier’s engagement ring insurance policies are underwritten by Berkley Asset Protection, which was established in 2008. Rings are covered on an all-risk basis, which covers perils like theft, damage, sudden disappearance, and loss, anywhere in the world and while traveling.

To purchase a policy from Lavalier, you can get a quote online, choose your coverage limits, and set a deductible between $0 to $25,000. Premiums typically cost between 1% to 2% of the ring’s value.

While you can file a claim online, you can’t make changes to your policy without contacting an agent. Additionally, one of the major downsides to Lavalier is that appraisals are required if your engagement ring is valued at $5,000 or more.

Travelers Insurance offers affordable endorsements that cover engagement rings if you already have a homeowners insurance policy with the company. You can add one of two riders—a Valuable Items Plus endorsement or a Personal Articles Floater—which could be cheaper than purchasing a stand-alone jewelry insurance policy.

Travelers’ insurance riders extend your coverage limits for jewelry and other valuables. You can purchase up to $50,000 of coverage with a maximum payout of $10,000 or $20,000 per item, depending on your state. Neither of these riders requires you to pay a deductible.

In the event of a loss, Travelers will reimburse you for your engagement ring’s value based on a recent appraisal or receipt. However, the Travelers website doesn’t mention whether you need an appraisal to add one of these riders to your existing homeowners policy.

With Travelers’ Valuable Items Plus endorsement and Personal Articles Floater, you need to contact the company to get a quote and add these riders to your current policy.

If you’ve served in the military, your best choice for engagement ring insurance is USAA. Existing USAA customers with a homeowners or renters insurance policy can add a valuable personal property endorsement to get more coverage for all types of engagement rings.

Policyholders can add this endorsement for as little as $2 per month, and there is no deductible required. It covers your rings anywhere in the world in the event of loss or damage. USAA offers scheduled valuable items coverage for one ring or blanket valuables coverage for multiple rings and other jewelry in your collection.

With a blanket policy endorsement, there’s a maximum per-item limit of $2,500 and a total policy limit of $10,000. Individual policy endorsements have more flexible coverage limits. You can also upgrade to a replacement cost coverage policy which offers a bigger payout after a claim.

To insure an engagement ring with USAA, you only need to get the item appraised if it costs more than $15,000. However, an appraisal or receipt is required when you report a claim. You can get a quote for valuable item coverage online, but you need to have an existing USAA account to do so.

Chubb is one of the leading jewelry insurance providers, and we recommend it for market increase protection. If your engagement ring increases in value after you purchase a policy, Chubb will provide up to 150% of the appraised value in the event of a covered loss.

Engagement ring insurance from Chubb comes with flexible coverage limits and no required deductible. New rings are automatically covered for up to 90 days if you have an existing policy, and you have the option to purchase scheduled coverage for individual items or blanket coverage for multiple rings.

Chubb covers your rings at their agreed value. If you lose your ring or if it gets damaged or stolen, you can choose to accept a cash settlement for 100% of the agreed value. You’re only required to provide an appraisal if your individual rings are worth more than $100,000.

Generally speaking, Chubb is a great jewelry insurance company with a strong reputation in the industry. However, you can’t get a quote online, and you also need to work with an agent to file a claim and make basic updates to your policy.