Kim Kardashian's Engagement Ring: $30,000 a Year to Insure!

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Kim Kardashian’s 20.5-carat engagement ring has already been valued at $2 million dollars, but the yearly insurance on that ring is also astronomical.

Patricia Lowe, CEO of Jewelry Insurance Company, Jewelers Unblocked, estimates, "with over 20.5 carats of diamonds and set in platinum, the approximate cost to insure the ring could be upwards of $30,000 per year.

The average person in 2010 spent $5000 on an engagement ring. You could buy 6 regular person engagement rings for the same price to insure Kim’s ring for one year. Just putting it in perspective.

Kim is elated with the engagement ring, she gushes, "In high school I went to Macy's and bought this fake ring, my 'perfect' ring, and this is almost the exact same.” Pretty sure anything you bought from Macy’s during the 90’s is NOT the same as the 20.5 carat $2 million ring that you currently own.

How heavy is 20+ carats? According to Jennifer Gandia, one of the owners of Greenwich Jewelers in Manhattan, “[the ring] likely weighs about 4 ounces and possibly more if the ring is set in heavy platinum.”

That’s a stick of butter on her ring finger. Again, just putting it in perspective.
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