Insuring an engagement ring

property.advert

If you already have cover for items outside the home, a few thousand pounds for instance, then adding a ring of moderate value will not cost too much.

If however, you have merely £10k contents only cover with a huge excess, then it will seem a lot of money.

If she wears it out then it is quite possible it will get damaged or potentially lost.

lisyloo

Most likely is that some part of the setting fails and you lose the diamond.

Agreed, but I am pretty sure this doesn't come under the defintion of "damage".

InsideInsurance

Normally it would be damage, as you've damaged one of the claws causing the stone to fall out.

Evidently from an insurance point of view there will be the argument of if it is a one off event thus accidental damage covers it or if it is a gradual process of 1,000 minor knocks that causes the problem.