Hi Billy, Dont hold me to this but I personally would go for somewhere in the region of R18k - R20k. Make sure you get it evaluated every 6 months. The problem is that the insurer will only pay out / replace the ring spec for spec. So if they replace it, then it will have to be as close to as possible. If they give you the cash to replace yourself, they will only give you the amount they would have got it for from a wholesaler. So I would personally cover it for what it is worth but make sure the valuation is up to date. Good luck