Did you read or see the TV news story about the couple’s engagement that went awry when the $9,000 diamond ring fell into the ocean on Cape Cod, and could not be found?
Insurance Saves the Day
The good news is that the groom’s mother had contacted her local insurance agent , and insured the ring – without his knowledge -the day he bought it.
Loss of jewelry (or a stone from a ring) is not covered by most Maine homeowners insurance policies, unless you buy specific coverage. Your Maine insurance agency may call this “scheduling your jewelry”. It’s not expensive: this ring would have cost less than $70 a year to insure.
Until it’s given, the ring belongs to the groom, and can be insured on his policy. It’s usually scheduled on the bride-to-be’s policy after she’s received it. If you’re not a homeowner, you can buy a Maine renters insurance policy and schedule the ring there.