I insured my ring. God forbid something happen to it I want the piece of mind that it's covered.
As the insurance agent. YES INSURE IT if you have home or renters insurance. insure it under your home policy as that will be best bang for your buck. especially because most home insurance policies limit the pay out for jewellery in the event of theft/mysterious disappearance most companies will want a receipt or an appraisal to add it. and you can talk to them about having a lower deductible (you pay a bit more in premium).