Engagement season is here – and Westwood is here to help you protect that beautiful new ring! Forty percent of engagements happen within the two and a half months between Thanksgiving and Valentine’s Day. And while the idea of asking for one’s hand on these special days might not be new, the rise of over-the-top and carefully curated proposals is.

In fact, proposal planning companies are popping up around the country to help create a memorable – and yes, social media ready – engagement. The more elaborate the proposal, the more valuable a third-party helper can be.

Experts say top proposal trends include:

• Destination proposals: Much like destination weddings, couples are flying off to beautiful and iconic locations. Beaches, New York, and even Disneyland create a life-long proposal memory and provide for a fun vacation.
• Proposal parties: This trend allows family and friends to be part of the festivities. In many ways, it combines the proposal with an engagement party.
• Staged proposals: Even if you’re staying local and keeping it intimate, creating a distinctive atmosphere is popular. Picking a unique venue, like a private room at a favorite restaurant or a rooftop setting, and decking it out with décor, including flowers and a backdrop, goes a long way.

No matter what type of proposal you go with, more people are opting to hire professional photographers and videographers to capture the special moment.

The center of many proposals is giving that all important ring. Highly sentimental and often reflective of personal taste, engagement rings are also a significant expense for couples. The average engagement ring is $6,000. With top 2023 trends, including Toi Et Moi (which means “you and me” in French), colored gemstones, and vintage rings, the cost can increase considerably.

Insuring your engagement ring can offer peace of mind around this valuable item. Consider these questions: Could you afford to replace your ring if it was lost or stolen? Will you be nervous to wear a higher-dollar item? Does your lifestyle – frequent travel or a job that requires removing your ring frequently – make losing a ring more likely?

The good news is insuring a ring is easy with the option to “schedule” your jewelry, which involves adding a personal property endorsement to your existing homeowners or renters policy. Without this endorsement, most homeowners or renters policies will cover jewelry only up to a certain dollar amount – usually $1,000 to $2,000 – and for loss by theft. Jewelry that is damaged or lost in other ways is typically not covered.

Insurance is typically 1%-2% of the cost of the item. This means you could be looking at $50 a year for a $5,000 ring or $100 a year for a $10,000 ring. Getting a jewelry policy is easy. You’ll usually need either a receipt or an appraisal of the piece, plus some photos.

As you plan your proposal – from quaint to over-the-top – don’t forget to protect that symbol of your love. Learn more about jewelry and valuable insurance or contact a Westwood agent to discuss what’s right for you.