What If My Engagement Ring Is Stolen?

When most people buy an engagement ring, they expect it to be a once in a lifetime purchase. Unfortunately, there are a number of scenarios where an engagement ring would need to be replaced. In the past, we’ve covered what to do if your engagement ring is lost as well as tips on how to travel with an engagement ring to prevent loss. In the event that an engagement ring is stolen, though, there are different steps to take. Hopefully, you already had your engagement ring insured. This would also mean your diamond ring was already appraised.

The Importance of Ring Insurance

Engagement ring insurance is extremely affordable. Typically, an engagement ring can be added to a homeowner’s policy or even rental insurance for just a couple bucks a month. However, it is very important that the ring itself is insured as many general homeowner’s policies do not provide the same coverage. In order for your ring to be insured, it will need to be appraised to determine the retail replacement value. This will determine how much the insurance company will pay to replacement your ring.  If you do not have ring insurance, you definitely should get it right away. If your engagement ring is stolen and not covered under your current insurance policy, your only hope is recovering the ring.

Call The Police If Your Engagement Ring Is Stolen

If your engagement ring is stolen, the first phone call should be to the police. By filing a police report, there is a very slim chance you will be able to recover your diamond ring from a pawn shop or other second hand retailer. Diamonds are all unique, and their individual internal characteristics can be used for identification. If you had your engagement ring appraised, you more than likely have a diamond certificate for your ring. These certifications essentially provide a list of the diamond’s inclusions and can help the police recover your ring.

In most cases when an engagement ring is stolen, it can be very hard to recover. However, with a bit of luck, the police can identify a stolen ring. If you recently purchased an engagement ring, the best advice is to acquire ring insurance right away. This will ensure you have the proper coverage, appraisal, and certification needed to potentially recover your ring.

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