You and your fiancé picked out and purchased the trio wedding ring set of your dreams. You’re now married, and you take excellent care of your rings by cleaning them regularly and protecting them from damage. Your diamond cluster rings are an investment in your future together, and they are also a sound financial investment, as the gold and diamonds appreciate in value over the years of your marriage. Unfortunately, some couples don’t realize that they are not protecting this investment until it is too late. Are your rings well protected?

Most renters insurance or homeowners insurance policies do not automatically cover jewelry, so some couples find themselves out of luck if a ring is stolen or accidentally flushed down the toilet. Even if you got an excellent deal on your diamond cluster rings when you purchased them, you may not be able to afford to go out and replace them immediately if something happens to them. There is obviously no way to insure the sentimental value of your trio wedding ring set, but at least it is relatively easy to insure their financial value. Here’s how:

1. Get your rings appraised.

2. Call the insurance company that you use for renters insurance, homeowners insurance, or car insurance.

3. Ask your insurance agent to add a rider to your insurance policy for each ring.

4. Pay a small yearly fee (usually only about $1 per $100 replacement value, or $10 a year for a $1000 ring) to keep your ring insurance current.

5. Keep all receipts, appraisal paperwork, and insurance paperwork together in a safe place in case something ever happens to your trio wedding ring set.

6. Relax, knowing that you’ve made a smart financial decision and have done the best you can to protect your diamond cluster rings.

Photo Credit: ILoveButter