You’re never going to take your Tacori diamond off of your finger. Right? Wrong. You’ll take it off to do the dishes, to bake cookies, or to go outside and dig in the dirt. There are a variety of reasons that you will remove your engagement ring, and each of those reasons raises the risk of your ring being lost. If you insured your ring, here are the steps to take to make a claim:
1. Gather Information
Your insurance agent is going to want specific information in order to start your claim. Before you pick up the phone, grab your insurance policy and find your account number. Call your insurance agent and report the loss. You will need to provide your address, phone number, and policy number.
You will also have to explain the circumstances of the loss. Don’t let embarrassment make you lie. Your insurance agent has heard it all! Filing a false claim will cause a quick denial. Be prepared to provide a copy of the ring’s appraised value. If the ring hasn’t been appraised, you can provide an approximate value.
2. Wait
Once you have provided the necessary information, there is nothing for you to do but sit back and wait for your claim to be processed. The length of time it takes to process the claim depends on your insurance company. It can take a few days, or it can take a few weeks. It’s going to be tough, but try to be patient.
3. Visit the Jeweler
When you get the word that your claim has been processed and approved, it’s time to visit your jeweler. You will be able to pick out a new ring in the amount that the insurance company specifies.
Keep in mind that you can always pay more if you choose. There is nothing that says you can’t make up the difference between the cost of the new ring and the approved amount of your claim.
4. Cash Out
It is also your option to take a cash payment in lieu of replacing your ring. No matter what your insurance company tells you, there is nothing that forces you to obtain a replacement ring. Few people choose the cash-out option; however, as the true purpose of filing a claim is to replace the lost ring.
5. Better Habits
Once you have lost an engagement ring, you don’t want to go through the hassle of losing another. Here are some habits to adopt to help prevent loss:
• Remove the ring and put it in a drawer
• Remove the ring and put it in a ring box
• Remove the ring and put it on a high shelf
You notice that none of those bullet points tell you to put the ring in your pocket! That idea is never a good one. The safest place for your ring, other than your finger, is in its box. Get in the habit of putting your ring away every time you take it off and it will soon become second nature to do so. Replacing a lost engagement ring isn’t difficult; it’s just a stress that you don’t want to put yourself through.
