5 Common Reasons for Engagement Ring Insurance Claims 

engagement ring insurance loss

It happens a lot! According to a study by Jewellery insurer “Report Your Bubble”, 11% of couples are reported to have lost a wedding or an engagement ring over the past five years, equating to a whopping £3.2billion!

There are, of course the funny stories and the shocking ones. The stories that involve animals and small children, but the most common reasons for insurance claims on engagement and wedding rings are pretty standard and a lot less exciting than you might think.

From our experience, here are our top 5:

  1. “I don’t know where it went!”

    A classic excuse and probably one of the most common reasons. We’ve all been there, we put something down and turn around two minutes later and it’s vanished. Well, it happens to engagement rings too. It can be heart-breaking and wallet-breaking unless you have a good insurance policy in place.

  2. “It fell down the drain!”

    It’s one I have heard a lot over the years and often it’s when someone is trying to take care of their ring. They decide to give it a little clean with a soft toothbrush and some warm bubbly water, BUT they don’t put the plug in! It takes two seconds to lose your ring down the u-bend and some rings are never retrieved - they whizz around the pipes and are gone before you’ve even noticed it’s slipped out your hands. Always always put the plug in the sink before cleaning your jewellery.

  3. “It slipped off when I was swimming / at the beach”

    A common one when on honeymoon, sadly. You’re not used to wearing your rings, they perhaps don’t fit perfectly and need a small adjustment but you’ve not had time to sort it out before you travel. Having an ill-fitting ring and slippery, wet fingers is a recipe for disaster and it’s a common claim story. Trying to find a lost diamond ring in a beach full of sand is well, it’s like the old proverbial needle in a haystack.

  4. “The Diamond just fell out!”

    Diamonds don’t just fall out. Wear or tear or an accidental bump or catching a claw can have very expensive consequences. And if a diamond falls out, it’s very difficult to find. If you catch your ring or the claws ever feel rough go and see a reputable jeweller who can check your ring’s settings under magnification. Best to get a small repair done than risk losing your diamonds.

  5. “It’s been damaged at the gym"!”

    I’ve seen it so many times; damage to rings caused by dumbbells, bar bells and heavy weights. Even some of the cardio-machines, like the rowing machine or the spin bikes mean your hands are gripping handle bars tightly. If you don’t remove your rings, they can easily be scratched, dented or completely misshapen. If you ring is misshapen enough, the diamonds are at risk of falling out.

Getting engaged and married are two of the most exciting and memorable events in your life. They can be easily spoilt by losing or damaging your valuable rings. The best advice I can give is to ensure you have the right insurance policy in place from the outset. Make sure you have an up to date valuation done every 2-3 years and check the policy small print so you know EXACTLY what you’re paying for and what to expect in the event of a claim.