Ethical Engagement Rings are Trending in 2021
The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.
Photo by Jackie Tsang on Unsplash
Ethical engagement rings have been trending in 2021 as the economy rebounds from COVID-19 and a growing number of consumers consider environmental sustainability, recycling materials and conflict-free ethical sourcing. For individuals looking to buy a sustainably crafted ring, finding one that checks all the boxes may be easier than most people think.
In recent years, a number of options have popped up for engagement rings and other jewelry that offer ethical ways to mine or make gems, craft the ring and get it to the consumer.
Sustainable and Conflict-Free Diamonds
One of the most straightforwardly ethical ways to acquire a diamond is by purchasing one that is lab-grown using environmentally friendly techniques. The lab-grown diamond industry has been expanding, with forecasts of lab diamonds reaching a 10% share of the global diamond market by 2030. A lab diamond is not automatically sustainable though, so buying from a source that guarantees this may be needed.
Lab-grown diamonds are worth less than mined diamonds and have even less resale value farther into the future. Some consumers may opt for a naturally mined diamond. Good options for purchasing a mined diamond that is guaranteed to be conflict-free and mined with consideration of the environment are also available. Additionally, using recycled diamonds from an old piece of jewelry or other item is a great way to mitigate ethical concerns.
Recycled Ring Metals
As for the ring itself, a big trend in the realm of ethical engagement rings is using recycled metals to make the band. Gold, platinum and silver are often and easily recycled for new jewelry. Like the diamond, using recycled metal is an easy way to ensure as ethical an impact as possible.
Got the new or old Bling?
After finding and buying a shiny rock and beautiful band that meets all your criteria, there are still other steps you may want to take to acquire insurance for the new ring. While homeowners and renters insurance policies can provide some jewelry coverage, it is frequently insufficient. Utilizing a jewelry-specific insurance policy is often the smart decision.
A top-rated company that specializes in top-quality jewelry insurance is BriteCo. BriteCo has been innovating in the jewelry insurance industry and focuses on providing digital-enabled and convenient replacement coverage for engagement rings and other fine jewelry at 125% of appraised value. If you have a ring or fine jewelry piece, get a fast, free and easy quote here.
The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
