Rules of engagement
With grooms-to-be forking out increasingly large amounts of money on the perfect engagement ring, a surprising seven out of 10 men (72 per cent) actually fail to insure the ring before popping the question. On top of this, over half of brides-to-be (56 per cent) surveyed admit to wearing loose-fitting engagement rings for nearly two months (an average of 52 days) before getting them properly resized - despite knowing the risk of it slipping off and being lost.
The research[1] conducted by Sheilas' Wheels home insurance, found that although the majority of engagement rings are chosen by men, only half of grooms-to-be (54 per cent) questioned get the size right first time and only three in 10 (31 per cent) make sure they find out the exact size of their fiancée's finger before buying the ring. Consequently, an estimated 100,000 men[2] have played it safe when it comes to choosing their fiancée's engagement ring by opting for a bigger size to ensure their partner can wear it straight away.
And with celebs spending huge amounts of money on the perfect rock - Victoria Beckham's engagement ring is reportedly worth an eye-watering £120,000[3] and Cheryl Cole’s £50,000[4] - men are feeling the pressure to splash out on the 'once in a lifetime' purchase and get the perfect size and ring design, no matter what the cost.
Despite men paying an average of £1,412[5] for an engagement ring, it's surprising that almost a third of grooms-to-be (31 per cent) polled didn't even consider insurance when buying the ring for cover against theft and loss, with a further quarter of men (25 per cent) admitting that they do not intend to insure the rock at all.
When considering the perfect proposal, 41 per cent of women surveyed admit that they would prefer it to be a surprise. However, 39 per cent of those women questioned said they would rather take control and choose or design an engagement ring, after the proposal, with their spouse-to-be.
When it comes to men, over 87 per cent polled would rather take their fiancée to choose their own ring after they had proposed - alleviating the stress and nerves of picking the perfect rock.
The research also reveals that over one in 10 married women (12 per cent) have lost their original engagement ring at one time or another despite 81 per cent claiming it is one of their most prized possessions.
Jacky Brown at Sheilas' Wheels home insurance, commented: "With most women dreaming of a surprise engagement ring and proposal, men are under a lot of pressure to pick out the perfect diamond that's the perfect fit. Worryingly, men aren't checking their partner's ring size and women are wearing loose-fitting engagement rings for weeks on end to show off their rock to family and friends - often without having insurance cover should the ring slip off and get lost.
The key for grooms-to-be is to try and ensure that they have adequate cover against loss before they even step out of the jeweller with their ring of choice whereas a bride-to-be should keep their ring safely in its box until it's been properly sized rather than wear it."
To help men and women alleviate unnecessary pre-nuptial stress, Sheilas' Wheels has compiled a few top tips for protecting for that all important engagement ring in the run up to their big day:
- Don't forget to make sure you have added 'personal possessions away from the home' cover on your home insurance in case your ring is lost or stolen when you leave the jewellers or lost, stolen or damaged when being worn.
- Remember that your engagement ring will need to be a specified item on your Sheilas' Wheels home insurance policy if it's over £1,500. This limit may vary depending on your insurer.
- Have your engagement ring valued every three years and update your insurance provider should the value change.
- Keep your engagement ring's shop receipt and other authentication documentation in a safe place - in case you need to provide proof of purchase in the event of a claim.
- Never wear a ring that isn't fitted properly - changes in temperature, the use of hand creams and other daily activities such as washing hands could all cause a loose ring to slip off.
- Get a ring re-sized straight away - no matter how much you want to show off your new rock.
- Make sure that you have ample home insurance contents cover in the lead up to the wedding - either to cover your new wedding gifts or wedding jewellery.
Sheilas' Wheels home insurance offers a 10 per cent increase in contents cover for policyholders and their family members four weeks before and four weeks after the wedding day.
Regional Differences
The research reveals that men in the East Midlands are the least insurance-savvy with 37 per cent of those polled failing to insure their partners' engagement ring and 34 per cent of these having no intentions of doing so in the future.
Scottish brides-to-be are the most likely to tempt fate following the proposal with 63 per cent of those polled wearing their ring to show it off to friends and family despite it being too big. Further to this, nine per cent of married women in the North West have lost their original engagement ring despite almost a quarter of these women (23 per cent) regarding the rock as their most prized possession.
When questioned about the perfect proposal, a surprising one in 10 women polled in the North East (31 per cent) claimed that they didn’t mind whether they received an engagement ring or not, compared to just three per cent of women in the South West.
For more tips please visit the Helpful Resources section.
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For further information please contact the Sheilas' Wheels press office at Mischief on 020 7100 9999 or email sheilaswheels@mischiefpr.com
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Notes to Editors:
- Sheilas’ Wheels used the independent online research company Fly Research who surveyed 2,000 people from across the UK, aged 18 and over, between Monday 3rd August - Friday 7th August 2009
- 108,005 (1 per cent). Source: Mid-2005 Population Estimates: estimated resident population by single year of age, sex and legal marital status
- Times Online: Does a pink diamond really mean for ever?
- Mirror.co.uk Celebs: CHERYL'S RING COST £150,000
- Source: You & Your Wedding's National Cost of a Wedding Survey 2008
About Sheilas' Wheels:
Sheilas' Wheels was launched in October 2005 to offer women drivers cheaper car insurance and female targeted product enhancements. In February 2008, the brand moved beyond car insurance to also offer home insurance with product enhancements including alternative accommodation (buildings and contents cover) in the event of loss of utilities in the home (terms and conditions apply), new for old cover on clothes (contents cover) and family legal protection cover which also includes assistance in finding emergency registered childminders while the insured person is attending jury service, and legal representation for a customer’s child if they do not gain entry to the school of their choice (terms and conditions apply).
Sponsorship:
Sheilas' Wheels sponsors the ITV National and Channel 4 Weather bulletins: "The weather you can never choose, but Sheilas' Wheels is all good news!"
