Education

The Practical Side to Buying an Engagement Ring

Foundations to a Happy Ever After

Purchasing an engagement ring might have all the trappings of a romantic film, but there is a practical side to it, too. This sparkler needs more than just perfunctory polishing every now and then. In fact, many say you should treat it with the same care and attention you would your own future marriage! Learn all about how to protect, properly store, clean, polish, and get professional maintenance for your engagement ring with this new infographic from Brilliance and Lavalier.

Once you go through the entire ritual of getting the right ring size, setting, precious metal and stones, you have more to do before dropping to one knee and presenting the ring to your beloved. First, get it appraised by a certified gemologist. This will help you determine the best insurance policy for the ring, and to double-check stated facts about your new purchase. Jewelry appraisers can be trusted if they are graduates of  specialized appraisal training programs from recognized institutions such as the GIA. When approaching an appraiser, don’t be shy about asking about their experience in the jewelry industry. You could end up paying them between $50-$150 per hour, so make sure they have the experience.

Next, get the engagement ring insured. This will help safeguard its financial and sentimental value for a lifetime. When looking, consider the kind of insurance policy coverage you’ll get for the ring: will it be insured against theft, damage, or loss? Most policies do not include careless handling, damages or more, so make sure you review the policy in detail.

When you’re ready to get the ring insured, you’ll need to present the receipt for the ring and the certification of appraisal from your gemologist. Ring insurance can vary depending on the value of the ring and the coverage. How can you pay for it? You can opt to apply for an extension on your homeowner’s or renter’s policy to cover the ring’s insurance cost, although the coverage is usually only up to $1000. You can also go for an established jewelry insurance provider, which has better coverage but can cost a little more. Jeweler-provided insurance is also available, but not recommended. They usually do not give adequate protection and you always run the risk of the jeweler going out of business.

Lastly, don’t forget ring maintenance. Keeping your ring beautiful with cleanings, polishing and checkups that will keep your ring in perfect condition for a lifetime.

insurance-infographic


Embed this image on your site: