That is how much the enormous 20.5 carat diamond engagement ring will cost to insure annually. The extravagant ring, displayed publicly for the first time on Wednesday, is said to be worth well over $2 million dollars.
So Kim Kardashian, as well as the blushing bride-to-be, is the proud owner of a piece of jewelry that is worth half the value of her mansion! So just how much money does it take to insure such a valuable piece of property?
Patricia K. Low, President and CEO of jewelry insurance company Jewelers UnBLOCKed gave her expert opinion on the insurance costs of such a ring.
“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,” she revealed.
Just to put it in perspective, according to a survey done by TheKnot.com and WeddingChannel.com the average cost of an engagement ring in 2010 was $5,292. So in other words, every year, to insure Kim Kardashian’s engagement ring, it will cost six times what the average person spend to buy a ring!
To make the engagement ring even more special, and presumably valuable, Kris Humphries has had two bible passage etched into it. Each of the passages is said to have a special meaning for both Kim and Kris, but they are not revealing what the Bible passages are.
So watch out for many close up photos trying to decipher the passages!