By Leah Ornstein
Radar Style & Beauty Editor
Kim Kardashian revealed her gigantic, 20.5 carat engagement ring on Wednesday, which is said to be worth well over $2 million dollars– half the value of her mansion! So just how much money does it take to insure such a valuable piece of property?
RadarOnline.com spoke to Patricia K. Low, President and CEO of jewelry insurance company Jewelers UnBLOCKed who gave us a staggering quote!
“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,” revealed the expert.
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 that means Kim’s yearly insurance on her Lorraine Schwartz bling is six times the cost of the average ring!