Lost ring? Here’s what to do next!

November 22nd, 2021

Don’t panic. Here’s some helpful advice if you’ve lost your ring.

It’s a sentence you never want to say: I lost my wedding or engagement ring. Once you notice your ring is lost, your first reaction is probably to panic. While this can be a stressful situation, there are steps you should take to make sure you can replace it. If you already have jewelry insurance, you shouldn’t have to worry at all.

With a specialized jewelry insurance policy, you will likely have replacement coverage. That means your insurance will cover the cost of replacing the lost ring with one of equal (or sometimes greater) value. “Stated value” insurance policies may also offer a cash-out option that lets you take payment directly and it’s up to you to spend the money you get to replace the ring or not.

Your first (and hopefully only) step: Contact your insurance company.

As soon as you realize “I lost my engagement ring,” you should reach out to your insurance provider. This is true whether you know where and how you lost it or if you experienced what is known as “mysterious disappearance” where you’re unsure exactly when and how your ring went missing. Specialized wedding and engagement ring insurance is designed to cover both.

Making a lost ring insurance claim should be an established process that was explained when you got the coverage. Calling your provider is probably an option, but it may not be necessary. In this digital age, you should be able to file a claim online, making the process as quick and easy as possible.

With BriteCo jewelry and watch insurance, for example, your jewelry insurance claim can be made on our website in just a couple of minutes.  Visit this page to see how easy it can be. A representative will quickly follow up with you to verify your info and get the process started to replace a lost or damaged ring through the jeweler of your choice.

Once your insurance company has been informed about your lost ring, they should be able to guide you through the process, collaborate with your jeweler, and make sure you get a replacement ring of equal or greater value than the one you lost.

Does my homeowners insurance cover a lost wedding ring?

To recap, your thought process: “Lost my wedding ring? Better contact insurance right away.”  But if it’s insured through your homeowners insurance policy, will the policy cover the full cost of a lost ring?  Do you have a deductible ($500 is typical) that requires you to pay an out-of-pocket cost in the event of a claim?  Has your policy been updated with a current appraisal to reflect any appreciation in value?

A specialized jewelry insurance policy can cover the entire cost of replacing your wedding or engagement ring. And, if it’s a good policy, it will also reflect changes in value over time.  If it doesn’t, you should look into getting a different insurance plan.  Losing your ring is enough of an ordeal on its own. Having to pay for a new one with an out-of-pocket expense would just make it worse.

What if I don’t have jewelry insurance?

Some people don’t have jewelry insurance but still find themselves with a lost ring. You can try to make a lost ring insurance claim on your home or renters insurance, which may not be a viable option. Making this type of claim on home insurance can lead to your rate going up or by adding to multiple claims your plan may be canceled altogether. It’s probably a risk you want to avoid.

Homeowners insurance also typically caps payments for jewelry items, usually somewhere between one and two thousand dollars. If your rings cost more than this, even a successful claim isn’t going to be much help in getting you a new wedding ring unless you have additional cash to cover replacement. That’s assuming you’ll be able to receive the payout at all. Renters insurance is important, but it likely isn’t enough for luxury items like engagement rings.

Get insured before you end up with a lost ring

You can prevent a bad scenario from becoming even worse by getting engagement and wedding ring insurance through a specialized jewelry insurance company like BriteCo. Our insurance is affordable and easy to apply for. Simply visit our website to check your price and get a policy in a matter of minutes. Some customers pay as little as five dollars a month or less to cover their engagement or wedding ring.

If you need to file a lost ring insurance claim, rest assured that BriteCo has you covered for a full replacement up to 125 percent of appraised value. Our policies worldwide protection of your fiancé’s and your fine jewelry and rings against damage, loss, theft, and mysterious disappearance. Don’t wait until tragedy strikes; get a custom quote for BriteCo jewelry insurance in less than 60 seconds.

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About the Author

Dustin Lemick is the Founder and CEO of BriteCo and a third-generation jeweler with over thirteen years of retail jewelry experience. He holds a Graduate Gemologist degree from the Gemological Institute of America (GIA) and has in-depth knowledge and expertise in appraisal systems, diamond and gemstone markets, retail pricing models, insurance replacement models, and jewelry quotation pricing systems.
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BriteCo Inc. is a licensed insurance agency in all fifty states and the District of Columbia.
Please see the Licenses section of this website for more information. All insurance policies underwritten and issued by Glencar Insurance Company and administered by BriteCo.