Source: Aleona\/Shutterstock.com\nWhen you get engaged, there’s a pretty good chance you’ve added a beautiful new piece of jewelry to your hand. An expensive new piece of jewelry to your hand, actually. That expensive piece of jewelry needs some safeguarding. Not only was it expensive, but it also has great sentimental value! It’s the ring that represents your commitment and the symbol that your relationship is headed towards marriage. When you get an engagement ring, you should also get ring insurance. Here’s how!\nWhat Is Ring Insurance?\nSimilar to car insurance, ring insurance provides you with protection from any financial losses if your ring is lost, stolen or damaged. Some jewelry insurance providers include acts of God (weather and natural disasters) as part of their insurance plans. \n- Don’t mistake your warranty for insurance: Your jewelry warranty is not the same as ring insurance. Warranties typically handle minor scratches, replacing stones or prongs, plus preventative maintenance (cleaning, tightening, inspections, etc). Some jewelers offer an extended warranty that might cover some instances of loss, theft or damage, but that’s typically rare, or you have to purchase it upfront. Additionally, not all warranties are lifetime. Insurance policies last for each year that you agree to pay the premiums.\nOrder One of Our Silicone Wedding Bands for Women She's Sure to Love\nWhy Get Ring Insurance?\nEven if you’re sporting a silicone engagement ring, that ring has value to you. If you experience a fire, someone steals it on vacation or you lose it down the drain while cleaning it, you’ll need a way to replace it! Unfortunately, if you don’t have insurance, then you might be stuck paying for a new ring out of pocket. No one wants that! Having ring insurance means that even in 15 years, your ring is covered. \n- One of the many benefits of our silicone wedding bands for women is their affordability. For many couples, this will eliminate the need for insurance. You don’t have to stress that it will cost hundreds of dollars to replace. However, we strongly believe that our rings symbolize much more than just something that goes on your finger, so we encourage customers to purchase ring insurance if they really want it. \n\nSource: wavebreakmedia\/Shutterstock.com\nWhen Do I Get Ring Insurance?\nWhile there’s no real timeline as to when you should get ring insurance, we recommend getting it as soon as you can. You don’t have to have insurance lined up before you purchase a ring (it’s not like some car sales), but you should definitely consider getting ring insurance as soon as you purchase your ring. It might take a few business days after you find the right provider because of submitting an application, getting an appraisal and submitting sales receipts, but overall it shouldn’t be a super lengthy process. \nHow Much Does Ring Insurance Cost?\nThat entirely depends on the insurance group you choose. Definitely shop around for your coverage before deciding on a specific insurance group. Sometimes, your homeowner’s or renter’s insurance will allow you to purchase what’s called a “rider” (also known as an extension) that covers your engagement ring; however, that option comes with a caution flag. Just like when filing a claim with your auto insurance, if you file a claim for your jewelry, it will cause your overall insurance premium to go up or your eligibility will be affected for the future. \nFollow Our Guide for How to Wear an Engagement Ring and Wedding Band\nHow Do I Choose a Ring Insurance Provider?\nThere are a few things you’ll want to ask insurance providers when you’re shopping around. Here’s some of our favorites:\n- Can I choose where I get my ring repaired?\n- What type of proof is needed to show that my ring is lost or stolen?\n- Does coverage extend internationally?\n- Is there an additional cost for damage coverage?\n- What types of repairs count towards my deductible?\n\nSource: Aleona\/Shutterstock.com\nWhat Can I Do to Keep My Ring Safe If I Choose Not to Purchase Ring Insurance?\nIf you’ve purchased a silicone band or decided not to go with ring insurance, here are some things you can do to keep your ring safe:\n- Get a safe. A safe with a fingerprint code or even a traditional combination can work wonders for your jewelry safety. You can store other jewelry pieces in it as well! \n- Have a backup ring: For anyone who’s purchased a metal or diamond band, a backup ring is a great option for how to wear an engagement ring and wedding band. You can wear your less expensive ring on vacation or while working out to protect your other ring from theft, loss or damage. Break out the sparkler for special occasions!