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Survey: 38% Report that Engagement Ring is their “Biggest Purchase”

A new survey reveals interesting trends about engagement rings purchasing and insurance
diamond engagement ring coupl
Credit: Syda Productions / shutterstock.com

US-based insurance technology company BriteCo jewelry has released a new engagement ring survey conducted among 758 respondents, of whom 400 had purchased an engagement ring in the past 10 years.

 

Lea Michele engagement diamond ring
Credit: Instagram/Lea Michele

 

According to the survey, titled “Buying and Protecting Your Engagement Ring: 2021 State of Art Survey and Report,” 60% of the respondents spent from $2,500 up to $10,000+ on their engagement ring. 38% said the engagement ring was their biggest purchase outside of buying a home or a car (and bigger than wedding, honeymoon and college).

 

engagement rings jewelry store.
Credit: Serhii Bobyk / shutterstock.com

 

In addition, 41% did not get insurance coverage for their engagement ring, “feeling insurance was too expensive or didn’t know how to get insurance.” Finally, 59% of those who did buy engagement ring insurance actually used it to make a claim for a lost or damaged ring.

 

 



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