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- Triple Excellent standard
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Insuring an engagement ring in Canada is straightforward, and worth doing the moment you have it. You have two main routes — adding it to your home or tenant policy, or a dedicated jewellery policy — and a good appraisal makes either simple. Here is what to know. (This is general information, not financial advice — confirm details with your insurer.)
Key takeaways
- Two options: a rider on your home/tenant insurance, or a standalone jewellery policy.
- Insure for loss, theft, damage and, ideally, mysterious disappearance.
- You will usually need an appraisal and the diamond's certificate.
- Premiums are typically a small percentage of the ring's value per year.
- Insure it right away — and keep your documents safe.
Option 1: a rider on your home or tenant policy
The simplest route is often to schedule the ring as a rider (an ‘endorsement’ or ‘floater’) on an existing home or tenant insurance policy. It is convenient and usually inexpensive. Check two things: whether it covers mysterious disappearance (the ring simply going missing, not just theft), and whether a claim would affect your wider home policy.
Option 2: a standalone jewellery policy
Specialist jewellery insurers offer dedicated policies that often provide broader coverage — worldwide protection, mysterious disappearance, and repair or like-for-like replacement — sometimes with no deductible, and without touching your home policy if you claim. For a significant ring, a standalone policy is often the more complete choice.
Every centre diamond is Triple Excellent, D–E, VVS and at least three carats — the hard calls are made for you.
Design your ringWhat to insure against
- Theft and loss — the essentials.
- Damage — a chipped stone or bent setting.
- Mysterious disappearance — the ring vanishing with no clear cause; not all policies include this, so ask.
- Worldwide cover — important if you travel.
Appraisals and documents
Insurers generally want an appraisal stating the ring's replacement value, plus the diamond's certificate (IGI or GIA). Keep copies of both, along with your receipt and clear photos, somewhere safe. Re-appraise every few years, since replacement values change. (On certificates, see IGI vs GIA.)
What it costs
Premiums vary by insurer, location and the ring's value, but are typically a small percentage of the insured value each year — a modest cost for protecting something irreplaceable. Get a couple of quotes to compare coverage, not just price.
The Montare standard helps
Every Montare diamond comes IGI certified with full documentation, which makes appraisal and insurance simple. We are happy to help you gather what your insurer needs — get in touch. And remember to keep your ring well maintained (see cleaning and care), since secure settings prevent the most common claims.
Design your ring in minutes. Every centre diamond is D–E colour, VVS clarity, Triple Excellent cut and at least three carats — IGI certified, made to order in Toronto.
Open the ring builder →Frequently asked questions
How do I insure an engagement ring in Canada?
Either add it as a rider to your home or tenant insurance, or take out a standalone jewellery policy. Both usually require an appraisal and the diamond's certificate.
How much does engagement ring insurance cost?
Typically a small percentage of the ring's value per year, varying by insurer and location. Compare quotes for coverage as well as price.
Do I need an appraisal to insure my ring?
Usually yes — insurers want an appraisal of replacement value plus the diamond's IGI or GIA certificate. Montare provides full documentation.
Does insurance cover a lost ring?
Theft and loss are standard; ‘mysterious disappearance’ (simply going missing) is not always included, so confirm it with your policy.
We provide full documentation. Questions? Book a consultation.
The Montare standard
Lab-grown · D–E colour · VVS clarity · Triple Excellent · 3ct minimum · IGI certified
Every ring is made to order in Toronto and backed by our lifetime setting upgrade, with free, fully insured shipping.
Design your ringBook a free consultation