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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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How Much is Ring Insurance?

Q Report Team

Updated on March 19, 2025
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After making a large purchase like an engagement ring, you may not be in the mood to spend more money. This is precisely why ring insurance is so important. With specialised jewellery cover, your fiance can wear that much-loved engagement ring without worrying about what will happen if it becomes damaged, stolen or lost.

But what exactly is ring insurance? And how much will it cost? When you’re looking to buy a large-ticket item like an engagement ring, these are responsible questions to ask.

Let’s take a closer look at ring insurance to help you to understand why it’s so important and what you should expect to pay.

Why Ring Insurance?

Most home and contents insurance policies include a provision for jewellery, but the exclusions on these policies can leave you wanting more security. For example, most contents insurance only covers the jewellery when it’s inside your home, leaving your jewellery vulnerable every time you leave the house.

Many travel insurance policies include some coverage for jewellery, but again, the conditions are limited and may not include enough cover to replace items such as engagement rings - unless you pay a higher premium to specify high-value items.

Specialised ring insurance is designed to give you the peace of mind to enjoy your jewellery to the fullest, allowing you to wear it everywhere you go with the assurance that it’s fully covered. In addition to full coverage, ring insurance like Q Report gives you the option to return to your chosen jeweller if something happens to the ring. You’ll also get your ring revalued  each year, helping you to know if your current coverage is enough to provide for the current market value.

What Should You Expect to Pay?

You might expect that specialised jewellery insurance costs a lot. According to Harper’s Bazaar, the median price for an engagement ring in Australia is $4,000. Estimates from luxury jewellers are, of course, much higher. But even at $4,000, chances are that you won’t want to have to pay that much money again anytime soon for a replacement.

Just as you cover your other expensive items, such as your car and your home’s contents, it’s wise to get specialised cover for your jewellery. Our clients are pleasantly surprised to discover how little it costs to protect their rings from damage, theft and loss.

You can find out right away how much it will cost to cover your ring with an instant online quote.

Why Specialised Insurance is Worth the Investment

Doubtless, you’ve heard terrible stories from friends and family members about things that have happened to engagement rings. They get lost in the ocean, damaged by wear and tear and even stolen during burglaries. With some types of insurance, such as contents and travel, you may receive a partial benefit after a loss, but with specialised jewellery insurance, you’ll have your much-loved ring fully restored to you.

Q Report Jewellery Insurance includes benefits like:

Agreed Value Policy

With specialised ring insurance, you’ll receive the full amount shown on your policy in the case of a claim. Some types of insurance will replace the ring at the lowest price they can buy it for, but we stand by the quality of your original ring and have the expertise to provide an accurate valuation.

Your Choice of Jeweller

Because we care so much about quality, we think it’s important that you have the ability to return to your chosen jeweller for repairs or replacement.

150% Cover

Sometimes it’s not possible to fully replace a ring for the same price, given fluctuating market conditions. That’s why we build an extra 50% into our Classic policy cover. We want to make sure that your replacement is every bit as lovely as the one you lost.

Annual Revaluation

Every year you’ll receive a complimentary revaluation of your ring. Knowing how much your ring is currently worth is not only interesting, but it also gives you peace of mind to know that you have enough cover to replace it at its current market value.

Worldwide Cover

You’re not just engaged when you’re in your home; you’re engaged everywhere you go! That’s why we think it’s important that your cover follows you around worldwide. So take your ring with you on your honeymoon; it will be covered while you travel the world.

Instant Cover

Because your ring is so valuable and loved, we think it should be covered from the moment you walk it out of the jeweller.

Get an instant online Q Report quote today and protect the things you love.

 

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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.

OK
Related Posts
Featured Posts
avatar_light
Jewellery Insurance

Instant Quote
play-audio
Listen to article
/

After making a large purchase like an engagement ring, you may not be in the mood to spend more money. This is precisely why ring insurance is so important. With specialised jewellery cover, your fiance can wear that much-loved engagement ring without worrying about what will happen if it becomes damaged, stolen or lost.

But what exactly is ring insurance? And how much will it cost? When you’re looking to buy a large-ticket item like an engagement ring, these are responsible questions to ask.

Let’s take a closer look at ring insurance to help you to understand why it’s so important and what you should expect to pay.

Why Ring Insurance?

Most home and contents insurance policies include a provision for jewellery, but the exclusions on these policies can leave you wanting more security. For example, most contents insurance only covers the jewellery when it’s inside your home, leaving your jewellery vulnerable every time you leave the house.

Many travel insurance policies include some coverage for jewellery, but again, the conditions are limited and may not include enough cover to replace items such as engagement rings - unless you pay a higher premium to specify high-value items.

Specialised ring insurance is designed to give you the peace of mind to enjoy your jewellery to the fullest, allowing you to wear it everywhere you go with the assurance that it’s fully covered. In addition to full coverage, ring insurance like Q Report gives you the option to return to your chosen jeweller if something happens to the ring. You’ll also get your ring revalued  each year, helping you to know if your current coverage is enough to provide for the current market value.

What Should You Expect to Pay?

You might expect that specialised jewellery insurance costs a lot. According to Harper’s Bazaar, the median price for an engagement ring in Australia is $4,000. Estimates from luxury jewellers are, of course, much higher. But even at $4,000, chances are that you won’t want to have to pay that much money again anytime soon for a replacement.

Just as you cover your other expensive items, such as your car and your home’s contents, it’s wise to get specialised cover for your jewellery. Our clients are pleasantly surprised to discover how little it costs to protect their rings from damage, theft and loss.

You can find out right away how much it will cost to cover your ring with an instant online quote.

Why Specialised Insurance is Worth the Investment

Doubtless, you’ve heard terrible stories from friends and family members about things that have happened to engagement rings. They get lost in the ocean, damaged by wear and tear and even stolen during burglaries. With some types of insurance, such as contents and travel, you may receive a partial benefit after a loss, but with specialised jewellery insurance, you’ll have your much-loved ring fully restored to you.

Q Report Jewellery Insurance includes benefits like:

Agreed Value Policy

With specialised ring insurance, you’ll receive the full amount shown on your policy in the case of a claim. Some types of insurance will replace the ring at the lowest price they can buy it for, but we stand by the quality of your original ring and have the expertise to provide an accurate valuation.

Your Choice of Jeweller

Because we care so much about quality, we think it’s important that you have the ability to return to your chosen jeweller for repairs or replacement.

150% Cover

Sometimes it’s not possible to fully replace a ring for the same price, given fluctuating market conditions. That’s why we build an extra 50% into our Classic policy cover. We want to make sure that your replacement is every bit as lovely as the one you lost.

Annual Revaluation

Every year you’ll receive a complimentary revaluation of your ring. Knowing how much your ring is currently worth is not only interesting, but it also gives you peace of mind to know that you have enough cover to replace it at its current market value.

Worldwide Cover

You’re not just engaged when you’re in your home; you’re engaged everywhere you go! That’s why we think it’s important that your cover follows you around worldwide. So take your ring with you on your honeymoon; it will be covered while you travel the world.

Instant Cover

Because your ring is so valuable and loved, we think it should be covered from the moment you walk it out of the jeweller.

Get an instant online Q Report quote today and protect the things you love.

 

New call-to-action

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.

bulb
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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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