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You’ve found the perfect ring! It suits your personality and lifestyle, and it’s the quintessential symbol of your love and commitment. It looks gorgeous on your hand, but worries nag at you. What if I lose it? What if someone steals it? What if the diamond falls out?

Many brides and grooms solve these problems by purchasing engagement ring insurance. When you know your ring is protected from the unexpected, you can wear it with confidence, even if you’re travelling overseas for your honeymoon.

But how does the process work? In this post, we’ll look at the complete journey, from obtaining cover to handling a claim. Let’s get started.


Obtaining Insurance

You can get Q Report engagement ring insurance in one of two ways. If you purchase your ring from one of the many Q Certified jewellers in your area, in most cases, you can obtain coverage at the moment of purchase. With this option, your ring is covered from the moment you walk it out of the shop. 

If you’ve already purchased your ring, however, you can obtain insurance directly from us. Start by receiving an Instant Quote. If you like what you see, provide us with the documentation for your engagement ring, and we can process your application. It’s a quick, simple process, and you will soon have adequate protection for your treasure.


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Making Payments

Safeguard your engagement ring all year round with one secure annual payment. You can pay your premium online and then rest assured that it is covered. That one payment includes all of the following:

  • Twelve months worldwide cover - Take your engagement ring everywhere you go.
  • Return to your original jeweller - If your ring is damaged or lost, you can make a claim and return to the jeweller you know and trust.
  • Annual revaluation - Our jewellery experts revalue your insured jewellery every year, so you always know that you have enough coverage.
  • Agreed value with up to 125% cover - If replacing your jewellery will cost more than you bought it for, we’ve got you covered for up to 125% with our Q Classic policy.
  • Low, fixed $100 excess - We pride ourselves on providing absolute transparency and never go back on this promise.


Each year when it’s time to renew your policy, we’ll revalue your insured engagement ring. You’ll receive an invitation to renew your policy 28 days before the expiration of your policy. At that point, you can either pay the annual policy amount payable or pay by monthly instalments and be insured for a further 12 months. Be aware that paying annually is more cost-effective. The additional cost of choosing the monthly payment option is 10% over 12 months. For example, if your annual premium is $300 and you wanted to pay by monthly instalments, you would end up paying $330 over the 12 months.


The Claims Process

Ideally, you’ll never go through the trauma of having your ring stolen, lost or damaged. But if something traumatic happens, you have a straightforward path to restoration or replacement.

As soon as you experience a loss, get in touch with us. You can either call us on 1300 882 018 or email us at claims@qreport.com.au. Once you let us know of the loss, we’ll guide you through the next steps. We’ll need a statutory declaration and a police report (if your ring was lost or stolen).

With this information, we’ll take care of the rest. Our personable and efficient staff will liaise with your jeweller and the underwriter and keep you updated along the way.

Assuming there are no problems, and we don’t require any further information, claims are usually processed and approved within five business days. In many cases, the time is much shorter.


Other Services

Cover for your engagement ring brings significant peace of mind. If you want to extend that comfort to your other treasures, consider obtaining insurance for your other fine jewellery and luxury watches. Are you in possession of an heirloom pendant? Do you shudder to think of losing your Rolex? We can provide you with the same quality cover for these treasures that you enjoy for your engagement ring.

To start with the process today, contact us or start with an Instant Quote. We look forward to protecting the things you love.


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Jewellery Insurance Instant Quote

Get an instant quote below. Questions, call us anytime on 1300 882 018

Helpful resources

Diamond Setting Fact Sheet

The Complete Guide to Buying an Engagement Ring

Engagement Ring Shopping Checklist

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