How Affordable is Engagement Ring Insurance?

affordable engagement ring insurance

If you’ve recently become formally engaged, all of us here at Zillion want to take a moment to tell you…


We’re truly thrilled for you to begin this next exciting and rewarding chapter of your life with your beloved. We’re huge believers in love, romance, and diamond engagement rings. We always celebrate committed romantic relationships.  

We definitely do not believe in telling anyone else how to navigate their engagement and marriage. Other than one very strong piece of advice. In fact, it’s something we feel very strongly about—and we have the experience to speak confidently on this topic.

If you really want to feel secure in your long-term relationship, you need to purchase dedicated, standalone engagement ring insurance. This way, you can always wear it with confidence.

Of course, this is just one of many reasons you should invest not only in your relationship and that sparkling diamond ring—but in jewelry insurance, as well. For example, what happens if your home is broken into and your diamond engagement ring is stolen? Or maybe you’re vacationing–or working out while vacationing–and you misplace or lose this priceless-yet-pricey reminder of your deep love? Nobody wants to even imagine such scenarios. But the truth is they can and often do happen.

With many combined years of experience, the Zillion team has seen and heard just about every jewelry insurance claim. You name it…we’ve raced to address and correct it. So after you’ve spent a good chunk of change on an engagement ring, it simply makes sense to buy affordable engagement ring insurance to protect your treasured investment. Consider this a helpful primer in just how affordable–and helpful–a dedicated jewelry insurance policy with Zillion is.

Is engagement ring insurance typically affordable?

You may be asking, ”Just how much does engagement ring insurance cost”? There’s really no set answer to this important question. But there is a simple formula you can apply when estimating the annual cost of engagement ring insurance.

Here’s how it works:

For every $100 it would cost to replace your ring (i.e. your jewelry’s appraised value), you should expect to pay somewhere between $1 and $2.

This means that if you insure a diamond engagement ring with an appraised value of $9,000, you’ll probably pay between $90 and $180 a year to insure it. Break this number down a bit further, and you’re looking at between $7.50 and $15 a month. That’s all.

There are definitely other factors that come into play, including the region and community you live in. If you live in the urban core of a city with a higher crime rate, you’ll probably have a pricier jewelry insurance policy on your ring.

Do I really need an appraisal?

Now, about that engagement ring appraisal. You’re probably wondering just how to purchase an engagement ring insurance policy. Well, Zillion has you “covered” here, too. The jewelry appraisal is a key component in this purchase process.

Just like the ever-changing market price of a home, the value of precious metals, diamonds, and other precious gemstones constantly fluctuates. An appraisal provides you with an accurate and up-to-date value of your engagement ring. Appraisals are typically provided by the jeweler who sold you the piece. If they’re not included as part of your purchase, they’re usually available for a fairly nominal fee.

If you ever need to insure a piece of fine jewelry, you can always bring it into your jeweler—or have it appraised by an independent professional. Professional and reputable jewelry appraisers should always offer a set or fixed price for this appraisal. Anyone claiming the price depends on some variable like the assessed value of your ring is someone you should steer clear of. Appraisals include quite a bit of detail, ranging from photographs to written statements that outline your ring’s weight, grade, measurement, maker, metal, and/or gem quality—along with notation of anything amiss or unusual. Professional organizations such as the GIA issue certification numbers, which also should be clearly identified on the appraisal. 

Zillion makes it easy.

All this being said…when you insure your diamond engagement ring with Zillion and our trusted, trained retailer partners, there is no formal requirement to secure and provide an appraisal. After all, our goal is to always make the jewelry insurance process as quick and easy as possible. To achieve this mission, we work directly with your retailer to gather the necessary information regarding your engagement ring. You’ll get an instant text message including your insurance quote, with 10 days to decide if it’s right for you. So there’s no paperwork. No confusion, hustle, or hassle.

Even more costly? Saying no to engagement ring insurance.

Suppose you decide not to purchase dedicated engagement ring insurance. Maybe live in a postcard-perfect, problem-free neighborhood. Oh, and you never, ever misplace anything. Not even something as small as, say, a diamond engagement ring. With so many other expenses related to wedding planning, why should you spend a hundred dollars more a year on ring insurance?

We understand this line of thinking. At least in theory. In real life, though, you just never know what tomorrow (or the next day, or even today or the next hour) may hold. And even if you’re every bit as polished and firm as your prized diamond engagement ring, certain events still remain well beyond your control. Even if your engagement ring would never be stolen or you’ll never lose it, it could somehow become badly damaged—in many different ways.

Put simply, the cost of not insuring your diamond engagement ring could end up being far, far higher than the rather nominal fee you’ll pay every year for this “undervalued” provider of protection and peace of mind. Believe us. Our experienced and seasoned team of jewelry and insurance professionals have seen, heard, felt, and dealt with more than a few (thousand) jewelry mistakes, mishaps, and misadventures. That’s why we’re driven to always lend a helping hand to all our valued customers.

Remember, the many benefits and the true value of engagement ring insurance simply should not be overlooked. When the time comes for you to make this important decision, we’d love to work with you to buy some peace of mind with affordable engagement ring insurance. We also encourage you to read some of the many positive Zillion reviews before you decide on your next step. 

We hope to speak to you soon. And again…congratulations!


Zillion partners with jewelers to offer their customers lower rates on jewelry insurance. If you don’t see your jeweler on our list, we’re sorry, we won’t be able to offer you a quote for insurance. If you purchased from a Preferred Jewelers International retailer please email us at and let us know the name of the retailer. Thank you.