Insuring an engagement ring is not something to think twice about. You should insure it almost immediately after buying it, even before the proposal.
Our preferred provider is Perfect Circle® by Jewelers Mutual Insurance Company (our founder uses it herself!).
Their worldwide coverage protects against loss, theft, damage and mysterious disappearance, which goes way further than your homeowners policy. It only takes a minute to get started.
As always, congrats on your engagement.