66% of engaged or married couples have uninsured rings - experts explain the risks

In the February, Brits have searched for “engagement rings” more than 396,000 times, while interest in “oval” and “emerald” rings has exploded - up by 5,000%, according to Google search data.¹

New research from MoneySuperMarket highlights a vital step many couples risk missing in the lead-up to getting engaged.

The data* revealed a significant protection gap, with two-thirds (66%) of engaged or married couples failing to insure their rings under their home insurance, and more than a quarter (27%) having no insurance cover at all.

Younger couples are particularly exposed. More than a third (38%) of 18–24-year-olds say their engagement ring isn’t insured, compared with 24% of those aged 25–34.

Even among those who believe their ring is covered, the level of protection often falls short. Just 7% have a specialist jewellery policy, as experts recommend, while only 5% get their ring valued regularly — a key requirement for keeping insurance valid. Alarmingly, 12% admit they haven’t had their ring valued since they first received it.

Uninsured rings could cost couples thousands

With engagement rings often costing thousands of pounds, the financial stakes are high. For those following the ‘three months’ salary’ rule, a ring could cost around £6,8012  — but many don’t realise their home insurance might not fully cover it if it’s lost, stolen or damaged.

Kara Gammell, Home Insurance Expert at MoneySuperMarket, adds: “Being in peak proposal season, it’s easy to get swept up in the excitement of choosing the perfect engagement ring. But while the sparkle might steal the spotlight, protecting your ring should be just as high on the priority list.

“Whether it’s covered under your home contents insurance or through a specialist jewellery policy, it’s vital to make sure your ring is properly insured and regularly revalued. Without the right protection, you could be left out of pocket if the worst happens.”

How to make sure your engagement ring is properly insured

Kara shares five essential steps to help couples safeguard their Valentine's day proposals:

1. Keep proof of purchase & Documentation

“Before you can insure your ring, you’ll need to show proof of purchase and supporting documents. Keep the original receipt and any certificates, such as diamond grading reports, as these help establish the ring’s value if you ever need to make a claim.”

2. Get a professional valuation certificate 

“Most insurers will require a valuation before adding your ring to a policy. An appraisal from a certified jeweller or gemologist ensures your ring is insured for the correct replacement value.

“To ensure your ring is always ensured for its current value, you should also schedule regular re-evaluations. The value of your ring may change over time, especially if it’s made of gold or contains diamonds. Re-valuing it every two to three years helps ensure you’re not underinsured if you need to replace it.” 

3. Declare your ring on your home insurance policy

“Home contents insurance policies have a single-item limit - meaning how much you can claim for a single item. This is typically limited to £1,000 to £3,000 but varies depending on your provider and policy.

“Any valuables worth more than this limit that you want to cover will need to be declared separately, so check your policy’s limit and contact your provider if you have a ring you want to insure.”

4. Check for “All-Risk” or Personal possessions cover 

“Not all home insurance policies offer the same level of protection. Make sure yours includes cover for loss, theft and accidental damage – both at home and abroad. With many proposals now happening overseas, it’s important to check that your policy includes travel cover, as standard home insurance often excludes loss or damage caused outside the home.”

5. Take clear photos and store details securely

“Photograph your ring from multiple angles and note any identifying features, such as engravings or serial numbers. Keeping this information in a safe place, or with your insurer, can help to speed up claims process if your ring is lost or stolen. 

For more details on how to properly protect your proposal, visit:  moneysupermarket.com/home-insurance/#_protect_your_proposal_with_these_expert_tips_