Wedding Rings Do Get Lost - Make Sure Your're insured

If you’ve ever dropped your ring down the drain or thrown it away with the rubbish, you can draw comfort from the fact that you are less alone than you might suspect.

When you consider how easy it is to misplace important items such as car keys and valuable documents, it is perhaps not that surprising that one in three women report losing their engagement ring.

“A recent study undertaken in the UK has shown that one-third of women who are engaged or married have lost their engagement ring,” says Robyn Farrell, managing director of 1st for Women Insurance Brokers.

The top five engagement ring mishaps, according to the survey, are:

• Falling off the finger when gardening or washing up
• Accidentally being thrown away in the rubbish
• Getting lost while on holiday
• Going missing while exercising
• Falling off the finger when shopping.

And if you think that South African women do not suffer the anguish of a lost wedding or engagement ring, you’re wrong.

“Imagine the dismay of the mother who realises that she’s handed her precious symbol of commitment to her husband to a four year old via a goodie bag at the end of her child’s birthday party. Or the busy businesswoman who accidentally posts her ring with her medical claims to her medical scheme. These are true stories and happen … regularly,” says Farrell.

Almost a quarter of the British women surveyed noted that they would have to save up to buy another engagement ring if theirs were lost or stolen, while around 18% said they were not sure if they would be able to afford to buy a replacement.

“While the jury is still out on the exact amount one should spend on an engagement ring - some estimates suggest the value of two months’ salary, while the average amount spent in the UK is around £3083 or about R34 000 - the fact is, this is an extremely valuable asset to lose,” explains Farrell.

She adds: “It is widely noted that engagement rings are becoming more expensive; therefore, it is extremely important that couples insure their rings properly as soon as they have been bought.”

1st for Women offers Portable Possessions insurance to protect all the things you just can’t leave home without. The policy covers you for the loss of, or damage to jewellery, as well as other personal items you usually wear or carry with you.

Farrell says: “Replacing a lost or stolen ring can put a substantial dent in any budget, so it is vital that such valuables are insured properly. A third of women have not insured their engagement and/or wedding rings, despite it being simple to do so.”

She concludes: “The loss of an engagement ring can be devastating, not only because of the expense of replacing it, but also because of the sentimental value of the ring. Being properly insured means never having to worry about being able to afford to replace your ring should it accidentally land up with Jelly Tots in a four-year-old’s bag of sweets.”