For many women, their engagement ring is their most prized possession. Considering the sentimental and monetary value, it's important to insure engagement and wedding rings right away.

To insure the ring, you'll want to add a "rider" to your homeowners or renters insurance policy. Standard homeowners or renters policies only provide a certain amount of protection for your jewelry, fine arts or other valuable collectibles. Adding a scheduled personal property endorsement, or a "rider", allows you to buy extra coverage for those items.

In most cases, this would protect you if the ring falls off your finger and is lost. Your insurance company would pay you up to the set scheduled limit, without a deductible.

Follow these steps to make sure your valuables are properly insured:

• Contact your agent right away when you acquire new items.
• Have the item appraised for the dollar value.
• Keep a copy of the store receipt.
• Keep valuables in a secure location.
• Update the value of your jewelry.
• Take a picture of the item.
• Add the item to your home inventory list.

If you don't have a renters or homeowners policy, contact us at Neckerman Insurance Services.We understand there is nothing more personal that insurance that covers your home, your car and your valuable possessions.