You’re finally engaged, and you either have a ring on your finger or you’re getting ready to go ring shopping. It’s always best to work with a knowledgeable jeweler when you’re engagement ring shopping, and it even better to have the basics of engagement rings under your belt before you go shopping. Read on to become an educated ring consumer.

The Four C’s
If you’re buying a diamond, make sure you’re versed in “The Four C’s”: color, clarity, cut and carat weight. Here are some definitions:

Color: Diamonds within the normal range go from colorless to varying degrees of yellow. The stones are graded by their lack of color, and the rule is, the less color, the better. Colorless diamonds are rare, making them more expensive. Diamonds outside of the normal color range are called "fancy-colored" and can be nearly any color imaginable.

Clarity: A stone’s clarity depends on whether it has internal flaws called inclusions or external ones called blemishes. These can be nicks and scratches or bits of other diamonds and minerals trapped inside the stone. Again, the closer to the top of the scale (flawless) that a diamond is, the more it is worth because flawless stones are rare.

Cut: The most difficult quality to understand is cut because it does not refer to the shape of the diamond (round, pear, heart, teardrop, etc.). Rather, it refers to the stone’s proportions, symmetry and finish. A high-quality cut will reflect light in a magnificent way. Obviously, the better the cut, the higher the value of the diamond.

Carat Weight: A one-carat diamond is worth more than two half-carat diamonds of the same color, clarity and cut. Why? Larger diamonds are rarer than small ones, so a larger stone will cost more per carat than smaller ones.

Band Options
There’s more to think about when it comes to the band of your ring than you think. What metal will you choose? The most popular are gold, white gold and platinum. Personal preference and budget will determine that decision.

After you’ve chosen the metal, think about how you’d like your wedding band to sit with your engagement ring. Do you want a straight wedding band that will sit flush with the ring, or do you want a wedding band that is shaped to curve around the setting of your engagement ring? You’ll also need to think about the width of your band. This will mostly be determined by the size of your hands.

Setting Options
After you select the size and shape of your stone, you’ll have to decide how it is set on the ring. A classic setting with four or six prongs will allow maximum exposure of the diamond. A bezel setting surrounds the entire perimeter of the diamond and is very secure. Other settings are available for multiple stones or bands with stones in them.

Ring Insurance
Your engagement ring is probably the most expensive piece of jewelry you own. Protect it with insurance, either through your homeowners’ or renters’ policy or as a stand-alone insurance policy. Be sure to ask what is covered (Theft? Damage? Loss?) and how the ring will be replaced (With a check or through purchase at an approved jeweler?).

Care of Your Ring
Once you have your ring, take good care of it. Have the prongs checked periodically by a jeweler to ensure that you don’t lose your stone, and clean it regularly. You can ask the jeweler to clean it when he or she checks your prongs. In between visits to the jeweler, you can also clean it at home with a mild soap and water and a soft brush, like a baby toothbrush. Rings can also be cleaned in a solution of ammonia and water. Put your ring in its original box when you’re doing manual labor or working with harsh chemicals. These can damage the stone, setting and band.