I know I harp on this a lot but I swear on Aggie this is a true story.
I was at the dentist and the doctor told me that she was had just sent her engagement ring to be cleaned for her daughter’s bat mitzvah, and not two days after she got it back the stone fell out and was lost forever.
So I said: Please tell me you had insurance.
And she said: No, I didn’t.
I couldn’t believe it. She got $500 from her homeowner’s insurance but because she didn’t have a separate policy for the ring with an appraisal, there was nothing she could do about. And the jeweler refused to tell the insurance company that he had just cleaned the ring, to prove the value, because he didn’t want to get blamed for not tightening the prongs.
Anyway, what’s the moral? Make sure to have your ring under your home owner’s policy with an amendment for it’s appraisal value so if g-d forbid something happens to it you’re covered.