The moment has finally come: The engagement ring that you’ve pictured for years is finally sitting on your finger. It’s hard to imagine any other spot for that ring now, but what would happen if it were stolen or lost? If this is something that worries you, you may want to consider getting some engagement ring insurance. “It’s a smart thing to do,” says Kevin Seele of Kevin’s Fine Jewelry in Boonton and Totowa (973-263-0101; 973-790-8836). “Engagement rings are generally worn every single day,” he adds. And there’s always a chance that the center stone may fall out or may chip, let alone the unfortunate reality of the ring possibly being lost or stolen. Though homeowner’s insurance policies generally cover jewelry, coverage may be limited to a certain price ceiling, which may be a disadvantage for a couple that has many jewelry or watch pieces, Seele says. He recommends insuring pieces that are worth more than $1,000—which most engagement rings are—and getting your jewelry appraised every few years to make sure it is not under-insured. Wisconsin-based Jewelers Mutual (800-558-6411) is the only company that exclusively insures jewelry. They allow customers to select which jewelry piece or pieces they specifically want covered. According to Tyler Krowiorz, marketing specialist at Jewelers Mutual, the premium, or price paid per year for a policy, is factored by the retail replacement value of each item and the state and county in which the jewelry owner lives. So, for example, someone who lives in New Jersey and owns a $1,000 ring will pay roughly $15 annually, whereas someone with a  $5,000 piece of jewelry will pay roughly $75 (if no deductible is chosen in each example). The policy needs to be renewed each year, but if something were to happen to the jewelry, a policyholder simply needs to file a claim with the company, and can then work with any jeweler to re-create a copy of the ring or a piece for the same value. Free quotes are available at insureyourjewelry.com.