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Explore Q Report's Content Centre for expert advice on jewellery insurance. You can also read e-guides and blogs, watch videos and more.

Explore Q Report's Content Centre for expert advice on jewellery insurance. You can also read e-guides and blogs, watch videos and more.

Jewellery, engagement ring & watch advice, plus insurance tips & industry insights. 

Watch expert tips, discover insurance benefits & hear real customer stories. 

Find answers to common questions about jewellery, engagement ring & watch insurance. 

Click here to access important policy documents - Product Disclosure Statement, Financial Services Guide, and Policy Wording.

Click here to access the Target Market Determination (TMD) document.

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Engagement Ring Insurance: What to Look For

Q Report Team

Updated on March 24, 2025
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In all likelihood, your engagement ring is your most treasured piece of jewellery. Not only does it hold a sentimental place in your heart, but it probably represents a hefty financial investment as well. Because of these factors, it’s only natural that you want to keep it safe and protected.

Like any other valuable item, an engagement ring is vulnerable to theft and loss. But another factor makes this particular piece of jewellery a bit more susceptible to damage: you wear it every single day!

Although you may live like a princess on your wedding day, real life returns quickly. You’ll wear that gorgeous sparkler while you’re working, playing, tidying and cleaning up the garden. Diamonds are some of the toughest stones on earth, but they’ve been known to crack or chip. What can you do to protect your precious engagement ring from the knocks and bruises that accompany everyday life?

Engagement Ring Insurance

There are several ways to insure your ring. You can specifically list your engagement ring on your home and contents policy, but you should be aware that this type of cover comes with restrictions. Jewellery may not be covered while it’s away from your home, and you may not receive enough of a benefit to replace it entirely.

Portable contents insurance and travel insurance can fill gaps in your contents policy, but these types of cover also have limitations.

For full engagement ring coverage, look to specialised jewellery insurance. There’s peace of mind in knowing that if the unexpected happens, your insurer will fully restore your engagement ring to you.

What to Look for in Engagement Ring Insurance

When you begin shopping around for jewellery insurance, what should you look for? After speaking with hundreds of satisfied customers, we’ve learned about their priorities. Here are some things they look for:

A Company that Knows (and Loves!) Jewellery

You can buy insurance for just about anything. And many insurance companies cover all kinds of items, from refrigerators to cars to roofs. Here at Q Report, we insure only two things: jewellery and luxury watches.

We’re passionate about jewellery and watches, so that’s all we do. When you speak with one of our experts about your engagement ring, they’ll be well-versed in diamond shapes, precious metals and even the latest trends in jewellery.

Agreed Value Policy

Some insurance companies won’t pay the full amount shown on your policy when you submit a claim. Even if you’re paying a premium on the insured value shown, they can choose to replace your engagement ring at the lowest price that they can buy it for.

At Q Report, we want you to feel clear and confident with your cover. That’s why our policies provide agreed value cover, which means we pay the actual amount shown on your policy minus a flat $100 excess if you lose your jewellery.

 

This article is advisory in nature and is offered as a resource to be used together with your professional insurance advice. It is an overview only and is not intended as a substitute for consultation with your insurance advisor or other professional advice.

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Worldwide Protection

Whether your engagement ring is stolen from your home or lost in the Mediterranean, it will be covered under your Q Report jewellery policy. Not every policy out there provides such wide-ranging protection, however, so it’s essential to ask as you research your options.

Worldwide cover is especially important if you plan to propose overseas or travel for your honeymoon. Proposing without an engagement ring would be sad. Avoid worry and risk by protecting your ring from the moment you walk it out of the store.

Instant Cover

That brings us to another vital issue: instant cover. When you complete your payment at the jewellery store and take possession of that sparkler, you might feel like you’ve just been put in charge of babysitting a newborn.

Why not reduce your risk by insuring it from the point of sale? When you purchase your engagement ring from a Q Certified Jeweller, you can rest assured that even if you injure it on the sidewalk out in front of the store, it’s absolutely protected.

Option to Return to Your Jeweller

With some insurance policies, you don’t have many choices about where your ring gets repaired or replaced. This could lead to a difference in quality or even style.

Our goal is to restore your ring to you fully. That’s why we give you the option of returning to your original jeweller. You chose that jeweller for a reason. Maybe you love the artistry, or maybe it's the craftsmanship or reputation you admire. When you’re dealing with a loss, it’s comforting to return to the familiar.

How to Get Q Report Engagement Ring Insurance

If you’re ready to protect your precious ring with specialised jewellery insurance, start by obtaining a free, instant quote. Of, if you’re more of a talker, give us a call at 1300 882 018. We look forward to providing you with unparalleled peace of mind.

 

This article is advisory in nature and is offered as a resource to be used together with your professional insurance advice. It is an overview only and is not intended as a substitute for consultation with your insurance advisor or other professional advice.

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Purchase Amount

To get an accurate insurance quote, please provide the amount from your purchase receipt.

Don't have the receipt?

If you don't have the receipt, you can provide the most recent valuation amount instead.

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Related Posts
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Jewellery Insurance

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Listen to article
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In all likelihood, your engagement ring is your most treasured piece of jewellery. Not only does it hold a sentimental place in your heart, but it probably represents a hefty financial investment as well. Because of these factors, it’s only natural that you want to keep it safe and protected.

Like any other valuable item, an engagement ring is vulnerable to theft and loss. But another factor makes this particular piece of jewellery a bit more susceptible to damage: you wear it every single day!

Although you may live like a princess on your wedding day, real life returns quickly. You’ll wear that gorgeous sparkler while you’re working, playing, tidying and cleaning up the garden. Diamonds are some of the toughest stones on earth, but they’ve been known to crack or chip. What can you do to protect your precious engagement ring from the knocks and bruises that accompany everyday life?

Engagement Ring Insurance

There are several ways to insure your ring. You can specifically list your engagement ring on your home and contents policy, but you should be aware that this type of cover comes with restrictions. Jewellery may not be covered while it’s away from your home, and you may not receive enough of a benefit to replace it entirely.

Portable contents insurance and travel insurance can fill gaps in your contents policy, but these types of cover also have limitations.

For full engagement ring coverage, look to specialised jewellery insurance. There’s peace of mind in knowing that if the unexpected happens, your insurer will fully restore your engagement ring to you.

What to Look for in Engagement Ring Insurance

When you begin shopping around for jewellery insurance, what should you look for? After speaking with hundreds of satisfied customers, we’ve learned about their priorities. Here are some things they look for:

A Company that Knows (and Loves!) Jewellery

You can buy insurance for just about anything. And many insurance companies cover all kinds of items, from refrigerators to cars to roofs. Here at Q Report, we insure only two things: jewellery and luxury watches.

We’re passionate about jewellery and watches, so that’s all we do. When you speak with one of our experts about your engagement ring, they’ll be well-versed in diamond shapes, precious metals and even the latest trends in jewellery.

Agreed Value Policy

Some insurance companies won’t pay the full amount shown on your policy when you submit a claim. Even if you’re paying a premium on the insured value shown, they can choose to replace your engagement ring at the lowest price that they can buy it for.

At Q Report, we want you to feel clear and confident with your cover. That’s why our policies provide agreed value cover, which means we pay the actual amount shown on your policy minus a flat $100 excess if you lose your jewellery.

 

This article is advisory in nature and is offered as a resource to be used together with your professional insurance advice. It is an overview only and is not intended as a substitute for consultation with your insurance advisor or other professional advice.

New call-to-action

 

Worldwide Protection

Whether your engagement ring is stolen from your home or lost in the Mediterranean, it will be covered under your Q Report jewellery policy. Not every policy out there provides such wide-ranging protection, however, so it’s essential to ask as you research your options.

Worldwide cover is especially important if you plan to propose overseas or travel for your honeymoon. Proposing without an engagement ring would be sad. Avoid worry and risk by protecting your ring from the moment you walk it out of the store.

Instant Cover

That brings us to another vital issue: instant cover. When you complete your payment at the jewellery store and take possession of that sparkler, you might feel like you’ve just been put in charge of babysitting a newborn.

Why not reduce your risk by insuring it from the point of sale? When you purchase your engagement ring from a Q Certified Jeweller, you can rest assured that even if you injure it on the sidewalk out in front of the store, it’s absolutely protected.

Option to Return to Your Jeweller

With some insurance policies, you don’t have many choices about where your ring gets repaired or replaced. This could lead to a difference in quality or even style.

Our goal is to restore your ring to you fully. That’s why we give you the option of returning to your original jeweller. You chose that jeweller for a reason. Maybe you love the artistry, or maybe it's the craftsmanship or reputation you admire. When you’re dealing with a loss, it’s comforting to return to the familiar.

How to Get Q Report Engagement Ring Insurance

If you’re ready to protect your precious ring with specialised jewellery insurance, start by obtaining a free, instant quote. Of, if you’re more of a talker, give us a call at 1300 882 018. We look forward to providing you with unparalleled peace of mind.

 

This article is advisory in nature and is offered as a resource to be used together with your professional insurance advice. It is an overview only and is not intended as a substitute for consultation with your insurance advisor or other professional advice.

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Table of Contents

Introduction
Understanding the 4 Cs of Diamonds
Diamond Shapes
Choosing a Ring Style
Selecting a Ring Retailer

Understanding Mechanical Movements

Rolex-super-precision

Unlike their battery-powered quartz counterparts, luxury watches have a beating heart – the mechanical movement. First created in the 14th century, large, weight-driven tower clocks with verge escapements and foliot balances marked the dawn of mechanical timekeeping.

Today, the core concept of mechanical movements remains unchanged from its original conception. It involves an intricate arrangement of gears, springs, and an escapement powered by a wound mainspring. This precision engineering allows for smooth operation and precise timekeeping.

Manual watch movements require the wearer to wind the crown periodically. Automatic watch movements, on the other hand, utilise the wearer's movements to keep the mainspring wound, offering a convenient everyday solution.

The Patek Philippe Calatrava, with its ultra-thin manual movement, exemplifies the elegance of traditional watchmaking. On the other hand, the Rolex Oyster Perpetual, with its self-winding mechanism epitomises practicality and durability.

Whether manual or automatic, a mechanical movement imbues a luxury watch with a soul, a testament to human ingenuity and a treasured heirloom for generations to come

Luxury Watch Complications: Exploring Hidden Features & Functionality

Luxury watches often boast 'complications,' intricate mechanisms that add layers of sophistication, style and utility. Here, we explore some of the most fascinating complications created by the best luxury watch brands.

Statistic Heading

Rolex-super-precision

Unlike their battery-powered quartz counterparts, luxury watches have a beating heart – the mechanical movement. First created in the 14th century, large, weight-driven tower clocks with verge escapements and foliot balances marked the dawn of mechanical timekeeping.

Today, the core concept of mechanical movements remains unchanged from its original conception. It involves an intricate arrangement of gears, springs, and an escapement powered by a wound mainspring. This precision engineering allows for smooth operation and precise timekeeping.

Manual watch movements require the wearer to wind the crown periodically. Automatic watch movements, on the other hand, utilise the wearer's movements to keep the mainspring wound, offering a convenient everyday solution.

The Patek Philippe Calatrava, with its ultra-thin manual movement, exemplifies the elegance of traditional watchmaking. On the other hand, the Rolex Oyster Perpetual, with its self-winding mechanism epitomises practicality and durability.

Whether manual or automatic, a mechanical movement imbues a luxury watch with a soul, a testament to human ingenuity and a treasured heirloom for generations to come

Peace of Mind: An engagement ring is a significant financial and sentimental investment. Specialised engagement ring insurance provides financial protection in the event of loss, theft or damage by ensuring you can recover the ring's monetary value or repair or replace.

Peace of Mind: An engagement ring is a significant financial and sentimental investment. Specialised engagement ring insurance provides financial protection in the event of loss, theft or damage by ensuring you can recover the ring's monetary value or repair or replace.

Peace of Mind: An engagement ring is a significant financial and sentimental investment. Specialised engagement ring insurance provides financial protection in the event of loss, theft or damage by ensuring you can recover the ring's monetary value or repair or replace.

Peace of Mind: An engagement ring is a significant financial and sentimental investment. Specialised engagement ring insurance provides financial protection in the event of loss, theft or damage by ensuring you can recover the ring's monetary value or repair or replace.

Common Diamond Alternatives
for Engagement Rings

Tanzanite

Contents insurance is essential for anyone who owns valuable items, as it helps protect you should a potential loss occur in your.

Aquamarine

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Sapphire

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Luxury Watch Complications: Exploring Hidden Features & Functionality

Luxury watches often boast 'complications,' intricate mechanisms that add layers of sophistication, style and utility. Here, we explore some of the most fascinating complications created by the best luxury watch brands.

Peace of Mind: An engagement ring is a significant financial and sentimental investment. Specialised engagement ring insurance provides financial protection in the event of loss, theft or damage by ensuring you can recover the ring's monetary value or repair or replace.

Peace of Mind: An engagement ring is a significant financial and sentimental investment. Specialised engagement ring insurance provides financial protection in the event of loss, theft or damage by ensuring you can recover the ring's monetary value or repair or replace.

Peace of Mind: An engagement ring is a significant financial and sentimental investment. Specialised engagement ring insurance provides financial protection in the event of loss, theft or damage by ensuring you can recover the ring's monetary value or repair or replace.

Peace of Mind: An engagement ring is a significant financial and sentimental investment. Specialised engagement ring insurance provides financial protection in the event of loss, theft or damage by ensuring you can recover the ring's monetary value or repair or replace.

“Knowing your engagement ring is insured brings peace of mind. Accidents can happen, and insurance coverage alleviates the worry and stress of potential loss or damage.”

Unlike their battery-powered quartz counterparts, luxury watches have a beating heart – the mechanical movement. First created in the 14th century, large, weight-driven tower clocks with verge escapements and foliot balances marked the dawn of mechanical timekeeping.

Today, the core concept of mechanical movements remains unchanged from its original conception. It involves an intricate arrangement of gears, springs, and an escapement powered by a wound mainspring. This precision engineering allows for smooth operation and precise timekeeping.

Manual watch movements require the wearer to wind the crown periodically. Automatic watch movements, on the other hand, utilise the wearer's movements to keep the mainspring wound, offering a convenient everyday solution.

The Patek Philippe Calatrava, with its ultra-thin manual movement, exemplifies the elegance of traditional watchmaking. On the other hand, the Rolex Oyster Perpetual, with its self-winding mechanism epitomises practicality and durability.

Whether manual or automatic, a mechanical movement imbues a luxury watch with a soul, a testament to human ingenuity and a treasured heirloom for generations to come

Export
Expert Tip

Budget Considerations

Diamond shapes can vary in price due to popularity and demand. Round brilliants, for example, tend to be more expensive than other shapes due to their high demand. If budget is a concern, consider alternative shapes or prioritise other aspects, such as cut quality, over the shape itself.

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Jewellery Insurance FAQ

Contents insurance covers the items within your home in case they are damaged, lost or stolen. This can include furniture, electronics, clothing and other personal.  Contents insurance is essential for anyone who owns valuable items, as it helps protect you should a potential loss occur in your.

Contents insurance covers the items within your home in case they are damaged, lost or stolen. This can include furniture, electronics, clothing and other personal.  Contents insurance is essential for anyone who owns valuable items, as it helps protect you should a potential loss occur in your.
Home Security Fortification

An engagement ring is a significant financial and sentimental investment. Specialised engagement ring insurance provides financial protection in the event of loss, theft or damage by ensuring you can recover the ring's monetary value or repair or replace.

An engagement ring is a significant financial and sentimental investment. Specialised.

Travel Savvy

An engagement ring is a significant financial and sentimental investment. Specialised engagement ring insurance provides financial protection in the event of loss, theft or damage by ensuring you can recover the ring's monetary value or repair or replace.

An engagement ring is a significant financial and sentimental investment. Specialised.

Social Media Caution

An engagement ring is a significant financial and sentimental investment. Specialised engagement ring insurance provides financial protection in the event of loss, theft or damage by ensuring you can recover the ring's monetary value or repair or replace.

An engagement ring is a significant financial and sentimental investment. Specialised.

Regular Valuations

An engagement ring is a significant financial and sentimental investment. Specialised engagement ring insurance provides financial protection in the event of loss, theft or damage by ensuring you can recover the ring's monetary value or repair or replace.

An engagement ring is a significant financial and sentimental investment. Specialised.

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Contents insurance is essential for anyone who owns valuable items, as it helps protect you should a potential loss occur in your.

Luxury Watch Complications: Exploring Hidden Features & Functionality

Luxury watches often boast 'complications,' intricate mechanisms that add layers of sophistication, style and utility. Here, we explore some of the most fascinating complications created by the best luxury watch brands.

Home Security Fortification

Contents insurance covers the items within your home in case they are damaged, lost or stolen. This can include furniture, electronics, clothing and other personal.  Contents insurance is essential for anyone who owns valuable items, as it helps protect you should a potential loss occur in your.

Purchase Amount

To get an accurate insurance quote, please provide the amount from your purchase receipt.

Don't have the receipt?

If you don't have the receipt, you can provide the most recent valuation amount instead.

OK

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