If you finally feel like it’s time to take that next step in your relationship and get down on one knee, you’ll definitely have to think about the engagement ring. Buying an engagement ring is probably one of the most important purchases you’ll make in your lifetime, so you need to do it properly. And, hopefully, you’ll just have to do it the one time. It may sound like a lot of pressure, but with the right guidance, you’ll get through the process unharmed. Getting ready for a proposal should be fun and exciting and we’ll make sure you have all the information you need.
You’re probably wondering where to start and how to set a budget. Don’t get too caught up in what people are saying on the Internet—there’s really no need to spend a huge amount of money on the ring unless you really wish to do so. So, before you head down to the store to browse rings, let’s first take a look at some basic steps you need to follow before popping the big question.
Think about your loved one’s style
You can pick the most expensive ring in the world but if it doesn’t fit your partner’s style at all, then it’s all in vain. You’ll need to keep in mind your loved one’s preferences and fashion choices when shopping for the ring. The next time you take your better half out to dinner, take a closer look at what they’re wearing and how they’re accessorizing.
Are they wearing an elegant white gold bangle or a simple pearl necklace? Then, they’re probably more traditional and prefer to stay out of the limelight. Did they put on a pair of flashy and extravagant earrings to go with their colorful outfit? In that case, they don’t mind being in the center of attention, so a big colored gemstone may be the perfect choice.
Find a jewelry store
After you have a clear vision of what your partner would like, then it’s time to start searching for the right jeweler. Nowadays, with so many options at our disposal, it’s difficult to decide where to turn to, especially when dealing with such an important purchase. That’s why you should always vet the place before you even step foot inside. That’s why we recommend that you first check out the jewelry stores in your neighborhood when shopping for a diamond engagement ring. A good local jewelry store will:
- Have a high number of positive reviews on Google
- Have a certified GIA staff on board
- Be able to answer all of your questions on the spot
You want a jeweler you can trust and someone who’ll be able to explain the process to you and provide advice if you get stuck. They’ll help you choose a beautiful and high-quality diamond ring that’s within your budget.
Plus, you’ll want to find a store that offers other services as well, such as ring resizing or ring engraving, if you decide to add a personal note to the ring.
Think about insurance
After you’ve opted for the ring, we strongly recommend getting the ring insured. Accidents happen daily—jewelry gets lost or stolen and that’s when most people realize the importance of being insured. Unfortunately, most people realize it too late. So, you might want to check out the insurance options as soon as you’ve purchased the perfect ring. Take a look at various coverage providers and choose the option that works best for you. If you already have some kind of insurance, maybe you could purchase an extension that would also cover the ring.
No matter which provider you select, make sure to ask all the relevant questions before signing any papers. Get informed about the coverage terms and ask whether the ring is also insured while abroad. Plus, don’t forget to ask if there are any specific circumstances under which the insurance doesn’t apply.
The rate will depend on a number of variables, but, on average, it will cost 1-3% of the value of the item. For instance, for a $10,000 ring, you’ll pay somewhere in the ballpark of 100-300$ per year.