There are several different types of insurance policies for jewelry. You need to carefully investigate each policy to determine what is right for you. Each one varies in annual costs and procedures for reimbursements.

Many people rely on their homeowner’s / renters’s insurance to cover them in case of a jewelry mishap. Unfortunately, home owner’s or renter’s insurance may not cover any or all of the cost of a lost or stolen diamond. However, you want to thoroughly check out your policy to discern exactly what is and is not covered. However, such policies may not cover damaged or lost engagement rings or anything that happens to the ring outside of the home front.
A replacement policy will refund the cost of replacing the ring with an identical new piece at the current market value.
Valued At Policies are more uncommon as well as expensive. You set the value of your ring, which can actually be higher than the appraised value, when taking into consideration factors such as emotional sentiment. If anything should happen to the ring, the insurance policy will reimburse you for the value you set the ring at.
Ask the jeweler where you purchased your ring for insurance policy recommendations. They may have relationships with insurers and can potentially offer you a discounted policy. Also, look around on the internet and see what deals you can find. Make sure to investigate the company with the Better Business Bureau to see whether they historically have a solid reputation