Jewelers Mutual Study Reveals Rising Engagement Ring Wear and Lack of Insurance
A new study by Jewelers Mutual Group highlights that mutual engagement ring-wearing is increasing, particularly among younger couples. However, despite the high value many place on their rings—62% consider them one of their three most expensive possessions—fewer than half choose to insure them at purchase. The research also shows a growing gap between how people wear and protect these valuable items. The study reveals that engagement rings are often worn during daily activities like cooking, sleeping, and hiking, increasing the risk of damage or loss. Yet nearly half of respondents store their ring in an unsecured location before proposing. Additionally, 55% of uninsured individuals who experienced a damaged ring never had it repaired. Jewelers Mutual recommends purchasing insurance at or before proposal time, securing documentation with photos and appraisals, and considering specialized jewelry coverage due to the limitations of standard homeowners' policies.
Topics: consumer protection engagement rings insurance habits