Engagement Ring Insurance
Lemonade offers engagement ring insurance for theft, loss, and damage with $0 deductibles and worldwide coverage.
Does renters insurance cover an engagement ring?
Standard renters insurance typically provides a coverage limit of $1,500 for theft, including engagement rings. For rings exceeding this value, Lemonade’s Extra Coverage provides full replacement cost and a $0 deductible for loss or damage, often starting from as little as $6 a month.
Pro Tip: Extra Coverage is the best way to safeguard your high-value ring.
What does engagement ring insurance cover?
Extra Coverage protects your ring from the unexpected, at home or anywhere in the world.
Incidents abroad
Replace your engagement ring if it gets stolen from your hotel room while you're honeymooning
Accidental damage
Helps cover the cost to repair your wedding band if it chips from a fall (excludes wear and tear)
Mysterious loss
You can get paid directly if your diamond ring slips and goes down the drain while you're showering
Not covered: normal wear & tear (like bent prongs from daily use), intentional damage, vermin/pest damage, or manufacturing defects.
What types of rings can I insure?
From solitaire diamonds to vintage heirlooms, we cover all types of engagement and wedding rings. Each one gets the specialized attention it deserves. Here’s a closer look at what is covered:
- Solitaire engagement rings
- Halo engagement rings
- Three-stone rings
- Vintage & antique rings
- Cushion cut rings
- Oval engagement rings
- Diamond wedding bands
- Plain metal bands
- Eternity bands
- Stackable rings
- Gemstone rings
- Custom designer rings
Looking to cover other valuable pieces? We also protect necklaces, bracelets, watches, and more.
Who needs engagement ring insurance?
If your ring is worth more than $1,500 and you couldn’t easily replace it out of pocket, Extra Coverage is essential. Here’s who needs it most:
Recently engaged couples
Your brand-new engagement ring represents months of planning, saving, and dreaming about your future together. Whether it's a $3,000 solitaire or a $15,000 custom design, losing it before the wedding would be devastating emotionally and financially.
Frequent travelers
Your engagement ring goes everywhere you do. Hotel rooms, airport security, unfamiliar cities, and packed itineraries all create opportunities for loss or theft. Standard renters insurance covers theft, but only up to your policy limits. And if it slips off during a beach walk in Mexico? That's accidental loss, which standard policies don't cover at all.
Active lifestyle couples
You work out together, hike on weekends, cook elaborate dinners, and live life to the fullest. But active lifestyles mean more opportunities for accidents. Rings can slip off during yoga, get damaged during home improvement projects, or disappear on outdoor adventures.
Already married but never insured
It's never too late. Whether you got married last year or 20 years ago, you can add Extra Coverage to your policy today as long as you have a receipt or a recent appraisal.
Vintage engagement ring owners
Your ring is a family heirloom, estate piece, or vintage find. These pieces carry history that no price tag can capture. That said, Extra Coverage insures your ring based on its documented appraisal value, so getting it appraised is the best way to make sure it's fully protected. Whether it's your grandmother's 1950s solitaire or an Art Deco piece, we'll cover it up to that verified amount.
How much does engagement ring insurance cost?
As of 2026, the average annual cost to insure an engagement ring is 1% to 2% of its appraised value, typically $6-12 per month depending on your location*. Way cheaper than replacing a $10,000+ ring out of pocket.
Here’s what Extra Coverage might cost for your engagement ring:
| Item | Item value | Estimated annual cost to insure |
|---|---|---|
| Engagement ring | $14,086 | $166 |
| Wedding band | $2,983 | $35 |
| 3 Carat diamond ring | $22,009 | $246 |
| Sapphire engagement ring | $8,122 | $110 |
| Gold wedding band | $1,236 | $17 |
Unlike working with an insurance agent from a traditional insurance carrier, you can get a quote in as little as 90 seconds, no phone calls or paperwork required.
Customers love Lemonade renters insurance
Our customers rate Lemonade renters insurance 4.9 on Trustpilot. See why couples trust us to protect their most valuable engagement and wedding rings.
How much coverage do I need for my engagement ring?
A good rule of thumb: insure it for what it would cost to replace it today. A standard Lemonade renters policy covers theft of rings up to $1,500, subject to policy limits. For rings worth more than that, or for protection against accidental loss and damage, you’ll need to add Extra Coverage.
What does Extra Coverage include?
Rings are lost, damaged, and stolen more often than you’d think. Extra Coverage makes sure
that if something does happen, you’re not starting from zero. Here’s what you get:
Full-value coverage
Get reimbursed up to the full replacement value of your ring if it's damaged, lost, or stolen
More protection
Covers accidental damage and mysterious disappearance, not just theft
Deductible free
No deductible on eligible claims. You get the full replacement value back
Lemonade vs. standalone ring insurance
We built insurance that actually works for you, eliminating the pain points of managing a separate ring insurance policy.
Here’s how we compare:
| Traditional jewelry insurers | Lemonade's Extra Coverage | |
|---|---|---|
| Accidental loss | Yes | Yes |
| $0 Deductible | Sometimes | Always |
| Global protection | Often extra cost | Included |
| Claims process speed | Days | Seconds/minutes* |
| Choose your jeweler | Limited options | Anywhere you want |
| Policy integration | Separate policy | One policy for everything |
*Many claims can be handled instantly. Complex cases may take longer.
How does engagement ring insurance work?
Add your ring to your policy or any other types of jewelry in a few taps. No insurance agent or paperwork required.
1. Buy a policy
Add your ring during signup and get temporary coverage while we review. You have 14 days to submit your receipt, appraisal, and photos
2. File a claim
If something happens to your ring, submit records of damage or a police report for theft right in the app. Most claims get handled in minutes, not weeks
3. Get reimbursed
Track your claim in the app from submission to payout. Simple claims can be approved instantly, and if things get complex, a real person takes it from there
Engagement ring insurance FAQs
Who should insure the engagement ring, the giver or the recipient?
The legal owner or the person in physical possession of the ring should be the one to insure it. Usually, this is the person who purchased the ring until the proposal is accepted.
Once you’re married and combine coverage under one policy, make sure the ring is covered for both of you. For more on combining coverage, check out renters insurance for newlyweds.
Who can insure an engagement ring?
Anyone who owns or is in legal possession of the ring can insure it – the buyer, the recipient, a parent, or a spouse. The key requirement is that the person insuring the ring must be listed on the policy.
- The person who bought the ring can insure it before the proposal
- The recipient should add it to their own policy after accepting
- A parent can insure a ring they purchased as a gift, as long as it’s on their policy
- A spouse can insure their partner’s ring as long as both names are on the shared policy
- Married couples are both automatically covered under one shared policy
How do I get an appraisal for my ring?
Simply head to your local jeweler and ask for an appraisal. We accept appraisals from any licensed professional. Make sure your appraisal:
- Was created within the last 5 years
- Is written in English
- Was completed in person (not online)
- Includes your name, address, and item value
Is my engagement ring covered during shipping or delivery?
Lemonade renters insurance only covers your ring once it’s in your possession, not while it’s in transit. Many sellers and delivery companies include their own shipping insurance, so check with them before purchase. To keep your ring safe, opt for tracked, signature-required delivery and request discreet packaging.
Should I get travel insurance for my engagement ring?
No, you don’t need separate travel insurance. Extra Coverage protects your ring anywhere in the world, global protection is included automatically. Learn more about protecting your valuable items abroad.
How do I protect my ring from everyday damage?
Insurance covers the unexpected, but good habits reduce risk. Know when to take your ring off, whether it’s during workouts, gardening, or your skincare routine. And keep it sparkling with preventative maintenance and our ring cleaning guide to prevent stone loosening and maintain its value.
What is the minimum premium to insure my ring?
Your ring insurance coverage minimum is built into your renters insurance policy terms, there’s no separate standalone minimum like other insurance companies require. You only pay for the coverage you actually need.
Do I need to work with an insurance agent?
No insurance agent required. At Lemonade, our digital-first approach gives you better accessibility and faster service than traditional providers who still rely on phone calls and paperwork.
Please note: Lemonade articles and other editorial content are meant for educational purposes only, and should not be relied upon instead of professional legal, insurance or financial advice. The content of these educational articles does not alter the terms, conditions, exclusions, or limitations of policies issued by Lemonade, which differ according to your state of residence. While we regularly review previously published content to ensure it is accurate and up-to-date, there may be instances in which legal conditions or policy details have changed since publication. Any hypothetical examples used in Lemonade editorial content are purely expositional. Hypothetical examples do not alter or bind Lemonade to any application of your insurance policy to the particular facts and circumstances of any actual claim. The costs shown in this article are based on internal Lemonade data as of April, 2026. *Actual costs can vary significantly depending on factors like the value of your scheduled items, location, and coverage limits. Extra coverage is required to protect your items against accidental loss and mysterious disappearance. Scheduled items used professionally are not eligible for extra coverage.
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Renters Insurance for Newlyweds
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