We all know the old joke about the best man forgetting or losing the rings at the point in the ceremony where the officiating priest, vicar or whoever asks for them, only to be met by panic stricken searching of the trouser pockets, inside jacket pockets and just about everywhere else!
Unfortunately, the loss of wedding rings, whilst not stated in the recent top ten claims by insurance companies, is still right up there and relatively common. More to the point is the stress caused by this particular loss, so it is understandable that one of the first questions considered by wedding planners when looking at wedding insurance policies is “are the wedding rings covered?”
Regarding wedding rings, the most common practice is for them to be covered by your wedding insurance policy shortly before and after the wedding day. However, most insurers will tell you that it is far more sensible to have them included in your household contents policy. Be aware, that rings with a high value will almost certainly have to be insured as a separate item within the household contents policy and will attract an additional premium.
You may also be able to take out a separate wedding ring insurance policy from either the jeweller you bought the ring from or a specialist insurer to cover your rings longer term.
I had it a minute ago…
Believe it or not, one of the most common claims for wedding rings is due to the new owner taking them off and leaving them somewhere, often the toilet or rest areas after the ceremony. This may sound ridiculous, but statistics have shown that newly-weds are not used to wearing their ring and often will take it off when washing their hands, then they forget about it because they are not used to having it on their hand. More often than not, the ring will be lost and not be found or returned.
Getting married is a stressful time and the last thing you need is to have everyone searching for your ring that you have mislaid. If you are a best man, we suggest that you put it in your inside jacket pocket the night before and make sure that you continually remind yourself where it is. No more rummaging about for it when the time comes for you to hand it over!
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Please see the full comparison table for all levels of cover available from these insurers.
An area of confusion arises where people get mixed up with wedding rings and engagement rings. Your engagement ring is not covered by wedding insurance; however, it can be covered by your household contents policy. Again, you should check with your insurer whether it is covered under the general sum insured or if it has a high value, whether it needs to be included as a separate item on the policy.
Of course, when you buy your ring, you will often be offered standalone insurance that will cover it for loss, damage and theft. It’s worth taking a look at the price of this as it could be cheaper than insuring it elsewhere.