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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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What if Something Happens to Your Engagement Ring?

Q Report Team

Updated on March 19, 2025
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What if you won the lottery? What if you didn’t? What if you broke your leg? What if you bumped into Chris Hemsworth? What if you got a new job? What if you lost your job? What if your house floods? What if you meet the perfect partner? What if you get married?

‘What if’ is a catalyst for both dreams, extra care and fear. It is the power of ‘what if’ that drives the way we live, expecting the unexpected and organising life in such a way that we’re ready when both the unpredictable and unimaginable strike. Most people wouldn’t dream of leaving themselves open to chance; health, car, travel and home insurance are all signs of the unexpected life. A person who crashes their new car and does not have insurance is regarded as careless, and at the mercy of floods, fire and burglars, it’s only foolish to live in an uninsured house.

While some of the things life throws at us are less than pleasant there are those things that surprise us with a whirlwind of excitement and joy, like when your partner bends down on one knee and asks for your hand in marriage.

So what if you get engaged?

This is an exciting ‘if’ and a cause for celebration! Proposals come about in many different ways. Some couples discuss the topic at length, including timing and ring design. In other cases, the proposal comes after several well placed hints, and still for others the question of ‘will you marry me?’ comes as a complete surprise. A proposal brings a flurry of wedding planning, events and of course a ring! But what if the proposal is followed by another ‘if’? What if your sparkling new engagement ring is lost, damaged or stolen?

You may think that this is a very big ‘if’ and it probably won’t happen to you, but fact is you’re actually more likely to lose your engagement ring in the first year than at any other time. Getting used to something so precious on your finger takes time. The probability that you take it off and leave it somewhere or accidentally knock it against something is far greater in that first year. A hen’s party and/or honeymoon abroad in areas where there is greater chance of theft may also increase the risk in that first year. Amidst the excitement of a wedding, if something happens to your beautiful engagement ring it can be truly heartbreaking, not to mention expensive.

If you have insured your engagement ring then the loss, damage or theft is no less heart breaking, but there is comfort knowing you won’t be completely out of pocket. You may even be able to replace your ring with an exact replica.

Question is, what happens if you’re not insured?

There is little to no recourse for an uninsured ring. If you fail to insure your ring, then you can expect that you will have to purchase a brand new engagement ring or pay the full cost of any repairs should something happen to it. When you consider how much time is spent finding the perfect ring, the emotion attached to such a purchase and the significant financial cost, it is crazy not to insure such a special item. If something were to happen to your engagement ring it could cost far more than a crashed car and you wouldn’t dream of not having car insurance would you?

What if you are insured, but your insurance doesn’t adequately cover your ring?

At some point, we’ve all been guilty of signing on the dotted line without actually reading the fine print, but when it comes to insuring your ring the stakes are much higher and it could cost you thousands. The fine print on many insurance policies significantly limits the recourse and circumstances under which you can claim loss, theft or damage on a ring. Couples may rest easy thinking that their ring is fully covered under their home and contents insurance policy, when in fact it isn’t. Much like our health insurance, it’s important to check what’s covered and what isn’t, because when the ‘what if’ eventuates it can be too late.

Common insurance policies will only value your ring up to a certain amount, which means even if your ring is valued at $20,000 they don’t necessarily have to replace it with a $20,000 ring. If an insurance company finds something similar that’s cheaper, then your $20,000 ring can easily be replaced with a $10,000 ring. Insurance companies will often have preferred jewellers who may underquote on jobs, winning out over your trusted, personal jeweller.

If you think your ring is covered under a home and contents insurance policy then you’ll need to double check you’ve added coverage for outside the home, because if you haven’t then losing your ring at the shops, the beach or even on a walk down the street means you won’t be covered.

Heading overseas? A standard insurance policy on your ring probably won’t cut it outside Australia. You’re likely to spend time researching the right travel insurance policy, but it’s important to consider how the insurance policy on your ring holds up. A standard insurance policy or home and contents insurance policy will rarely cover a ring overseas, while travel insurance policies will only cover a ring up to a certain amount, generally much less than an average engagement or wedding ring is worth. If your ring disappears on your honeymoon, then it may be a permanent disappearing act.

But, what if your ring is insured with Q Report?

Q Report Jewellery Insurance is the only dedicated jewellery insurer offering complete cover on your jewels, so in the event of loss, theft or damage you know you’re covered 100%.

A Q Report insurance policy is an agreed value policy which means if you’re insured with Q Report a $20,000 ring is replaced with a $20,000 ring and you have the option to return to your original jeweller. In addition to an agreed value, Q Report offer 150% cover which means if the Australian dollar plummets and your previous diamond can no longer be replaced at the same price, Q Report will cover the difference to ensure you return to the exact same position. Plus, worldwide coverage gives you the freedom to work and travel overseas without worrying about your jewels.

So if you want to protect your precious jewels, insure them with Q Report and there will be one less ‘what if’ to worry about and more ‘what if’ to dream about like what if you won a holiday?

Contact Q Report for more information on insuring your ring or get an instant quote online.

 

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
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Jewellery Insurance

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Listen to article
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What if you won the lottery? What if you didn’t? What if you broke your leg? What if you bumped into Chris Hemsworth? What if you got a new job? What if you lost your job? What if your house floods? What if you meet the perfect partner? What if you get married?

‘What if’ is a catalyst for both dreams, extra care and fear. It is the power of ‘what if’ that drives the way we live, expecting the unexpected and organising life in such a way that we’re ready when both the unpredictable and unimaginable strike. Most people wouldn’t dream of leaving themselves open to chance; health, car, travel and home insurance are all signs of the unexpected life. A person who crashes their new car and does not have insurance is regarded as careless, and at the mercy of floods, fire and burglars, it’s only foolish to live in an uninsured house.

While some of the things life throws at us are less than pleasant there are those things that surprise us with a whirlwind of excitement and joy, like when your partner bends down on one knee and asks for your hand in marriage.

So what if you get engaged?

This is an exciting ‘if’ and a cause for celebration! Proposals come about in many different ways. Some couples discuss the topic at length, including timing and ring design. In other cases, the proposal comes after several well placed hints, and still for others the question of ‘will you marry me?’ comes as a complete surprise. A proposal brings a flurry of wedding planning, events and of course a ring! But what if the proposal is followed by another ‘if’? What if your sparkling new engagement ring is lost, damaged or stolen?

You may think that this is a very big ‘if’ and it probably won’t happen to you, but fact is you’re actually more likely to lose your engagement ring in the first year than at any other time. Getting used to something so precious on your finger takes time. The probability that you take it off and leave it somewhere or accidentally knock it against something is far greater in that first year. A hen’s party and/or honeymoon abroad in areas where there is greater chance of theft may also increase the risk in that first year. Amidst the excitement of a wedding, if something happens to your beautiful engagement ring it can be truly heartbreaking, not to mention expensive.

If you have insured your engagement ring then the loss, damage or theft is no less heart breaking, but there is comfort knowing you won’t be completely out of pocket. You may even be able to replace your ring with an exact replica.

Question is, what happens if you’re not insured?

There is little to no recourse for an uninsured ring. If you fail to insure your ring, then you can expect that you will have to purchase a brand new engagement ring or pay the full cost of any repairs should something happen to it. When you consider how much time is spent finding the perfect ring, the emotion attached to such a purchase and the significant financial cost, it is crazy not to insure such a special item. If something were to happen to your engagement ring it could cost far more than a crashed car and you wouldn’t dream of not having car insurance would you?

What if you are insured, but your insurance doesn’t adequately cover your ring?

At some point, we’ve all been guilty of signing on the dotted line without actually reading the fine print, but when it comes to insuring your ring the stakes are much higher and it could cost you thousands. The fine print on many insurance policies significantly limits the recourse and circumstances under which you can claim loss, theft or damage on a ring. Couples may rest easy thinking that their ring is fully covered under their home and contents insurance policy, when in fact it isn’t. Much like our health insurance, it’s important to check what’s covered and what isn’t, because when the ‘what if’ eventuates it can be too late.

Common insurance policies will only value your ring up to a certain amount, which means even if your ring is valued at $20,000 they don’t necessarily have to replace it with a $20,000 ring. If an insurance company finds something similar that’s cheaper, then your $20,000 ring can easily be replaced with a $10,000 ring. Insurance companies will often have preferred jewellers who may underquote on jobs, winning out over your trusted, personal jeweller.

If you think your ring is covered under a home and contents insurance policy then you’ll need to double check you’ve added coverage for outside the home, because if you haven’t then losing your ring at the shops, the beach or even on a walk down the street means you won’t be covered.

Heading overseas? A standard insurance policy on your ring probably won’t cut it outside Australia. You’re likely to spend time researching the right travel insurance policy, but it’s important to consider how the insurance policy on your ring holds up. A standard insurance policy or home and contents insurance policy will rarely cover a ring overseas, while travel insurance policies will only cover a ring up to a certain amount, generally much less than an average engagement or wedding ring is worth. If your ring disappears on your honeymoon, then it may be a permanent disappearing act.

But, what if your ring is insured with Q Report?

Q Report Jewellery Insurance is the only dedicated jewellery insurer offering complete cover on your jewels, so in the event of loss, theft or damage you know you’re covered 100%.

A Q Report insurance policy is an agreed value policy which means if you’re insured with Q Report a $20,000 ring is replaced with a $20,000 ring and you have the option to return to your original jeweller. In addition to an agreed value, Q Report offer 150% cover which means if the Australian dollar plummets and your previous diamond can no longer be replaced at the same price, Q Report will cover the difference to ensure you return to the exact same position. Plus, worldwide coverage gives you the freedom to work and travel overseas without worrying about your jewels.

So if you want to protect your precious jewels, insure them with Q Report and there will be one less ‘what if’ to worry about and more ‘what if’ to dream about like what if you won a holiday?

Contact Q Report for more information on insuring your ring or get an instant quote online.

 

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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Amet minim mollit non deserunt ullamco est sit aliqua dolor do amet sint. Velit officia consequat duis enim velit mollit. Exercitation veniam consequat sunt nostrud amet.

Amet minim mollit non deserunt ullamco est sit aliqua dolor do amet sint. Velit officia consequat duis enim velit mollit. Exercitation veniam consequat sunt nostrud amet.

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
0%

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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