Study claims average engagement ring costs £5,250


New research by Assetsure shows prices are rising for engaged couples.

The financial cost of getting engaged is on the rise with the average engagement ring priced at £5250, according to new research by specialist jewellery insurance provider, Assetsure.

According to their report, the average age of an engagement ring wearer is 31 and, when planning a surprise proposal, the majority of men will still opt for romantic breaks in Paris, followed by Mexico and South America.

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Research also shows that the responsibility of insuring an item of jewellery falls to the woman once it has been gifted.

Assetsure Managing Director, James Farley, commented: “Too many couples fail to realise when the monetary value of their ring falls outside the maximum cover provided by most standard home contents insurance policies, finding themselves sadly under-protected in the unfortunate event of loss or damage.”

Another study by Axa discovered that 15,000 UK women will receive a temporary engagement ring in 2014 from partners who are afraid of making the wrong choice.

16% of women are disappointed with their partner’s engagement ring choice, with the average groom-to-be spending one month’s salary or £1,373 on a ring, according to the study. 

Tags : engagement ringengagement serviceInsurance
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