Zales Ring Insurance: Everything You Need to Know
An engagement ring is one of the most important purchases you’ll ever make. It’s not just a mere piece of jewelry. It symbolizes your love and commitment to your partner and is a significant step in your relationship. It’s a promise of a future together and holds just as much sentimental value as monetary value.
As such, the last thing you want to happen is to lose your engagement ring and not be able to replace it — this is precisely where engagement ring insurance comes in.
If you purchased your engagement ring at the popular jewelry chain Zales, you may be wondering if you can also purchase Zales insurance on rings. Here’s what you need to know.
What You Will Learn
Zales Engagement Ring Insurance
Zales offers so many benefits to consumers. The brand boasts many storefronts around the country and allows you to browse jewelry online from the comfort and convenience of your own home. Plus, compared to shopping with a fine jewelry retailer, Zales offers more affordable prices.
However, one thing that Zales doesn’t directly sell is Zales ring insurance. Instead, the chain offers a lifetime protection plan for your purchases, available at an extra fee. There’s also a complimentary lifetime diamond commitment that comes with most diamond purchases. But for a specific jewelry insurance policy, you’ll need to look to a third-party provider.
Can You Rely on the Zales Protection Plan Alone?
Knowing this, you might wonder if you can skip engagement ring insurance for your recent purchase and simply rely on Zales’ lifetime protection plan and diamond commitment. While these offerings cover a broad array of maintenance and repairs that you might need over the lifetime of your jewelry, they also have shortcomings.
Zales’ complimentary lifetime diamond commitment only covers diamonds. And in order for the commitment to remain valid, you must have your jewelry inspected in-store every six months. Plus, the only services covered under the commitment are cleanings and diamond or gemstone replacement.
On the other hand, Zales’ lifetime protection plan, which is priced according to the original value of your jewelry, includes the following complimentary services:
- Cleanings
- Ring sizing up to two sizes difference
- Prong or stone tightening
- Stone resetting
- Repair to damaged mountings
- Refinishing and polishing
- Prong re-tipping
- Cultured pearl restringing
- Repairs to earring backs and posts, as well as chains, hinges, and clasps
While this does seem like a lot of coverage, remember that the plan will not provide repairs if the damage to the jewelry was caused by what Zales deems to be “improper maintenance, misuse, or abuse.” It also will not cover “insignificant cosmetic damage.” Likewise, if you have an outside warranty or insurance, Zales’ plans will not cover any damages covered by the other warranties or insurance policies.
Why You Need Specialty Zales Ring Insurance
A specialty jewelry insurance policy covers far more than any brand’s warranty or protection plan ever will. In addition to protection for all sorts of damages, specialty jewelry insurance covers mysterious disappearances, loss, and theft, among other issues.
So, if you lose your engagement ring, you can replace it with the same ring or one of equal value at little to no extra cost. The same applies if the ring is stolen.
Where to Get Zales Ring Insurance
If you’ve decided you need more coverage than what Zales’ warranty or lifetime protection plan can provide, you have a few options.
Homeowners and Renters Insurance
Homeowners and renters insurance policies typically provide some level of protection for jewelry. However, the coverage limits are typically much less than the jewelry’s worth. For example, many policies cap their payouts at $1,500–$2,000.
While buying some engagement rings for less than $2,000 is possible, the average cost of an engagement ring is $5,200, according to The Knot’s 2024 Jewelry & Engagement Study. So, if you purchased a Zales engagement ring around that price point, and it’s stolen from your home, your insurance company may only give you $2,000 to replace it. If you want to replace it with the same ring or a ring of the same value, you’ll need to shell out an additional $3,200. That puts your total engagement ring cost, at the end of the day, at $8,400.
Additionally, when you submit a jewelry-related claim to your homeowners or renters insurance provider, chances are likely that your premium may go up. Likewise, the types of claims accepted by these providers are limited. While fire and theft coverage is pretty standard, a homeowners or renters insurance policy will not likely cover accidental loss.
Specialized Jewelry Insurance
The other option is specialized jewelry insurance. Providers like BriteCo offer more robust coverage designed specifically for jewelry. Loss, theft, damage, mysterious disappearance—it’s all covered.
In addition, if you purchase specialized jewelry insurance from BriteCo, you can also expect:
In short, specialized jewelry insurance is a more robust, all-encompassing option that goes above and beyond what any warranty, protection plan, or homeowners or renters insurance policy can provide.
Engagement Ring Insurance FAQs
How Much Does It Cost to Insure an Engagement Ring?
If you insure your engagement ring with BriteCo, you’ll pay about 1–2% of its total value per year. So, if you purchased an engagement ring for the average cost of $5,200, you can expect to pay around $50–$100 annually for insurance.
Do Most People Insure Their Engagement Rings?
According to a previous BriteCo survey, about 55% of engagement ring owners have insurance for their jewelry.
Can You Insure an Engagement Ring for Loss?
Yes! Many engagement ring insurance policies will cover loss. Even if you have no idea where or when you lost it, you can replace the item with a ring of equal value.
What Will Engagement Ring Insurance Not Cover?
The one thing that most engagement ring insurance policies will not cover is intentional damage.
Should I Buy a Store’s Jewelry Protection Plan?
When purchasing your engagement ring, you may have been offered a jewelry protection plan. While these plans are handy for general maintenance and minor repairs, remember they will not help if your jewelry is lost or stolen. For all-encompassing coverage, you need jewelry insurance.
Protect All Your Zales Jewelry with BriteCo Insurance
If you want to ensure your Zales engagement ring — and all your valuable jewelry — is perfectly protected from theft, loss, damage, and mysterious disappearance, BriteCo’s comprehensive coverage will help.
Get your quote from BriteCo now and be covered by the end of the day!
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