Here's Something Your Sweetheart Should Know

By Jennifer Best | Feb 05, 2014

So, for Valentine's Day you're getting engaged!! Congratulations, your RING is AMAZING...I'm blinded by the lights bouncing off all those carats. 

What are you going to do if it's lost or stolen?  YIKES!!!!

Now, while there is no  insurance coverage that provides for sentimental value, having that precious stone insured can provide financial protection in the event that the unthinkable happens.

Obviously INSURANCE is not a word used very often when you think about Valentines Day.  (We think of words like LOVE and HEARTS and FOREVER!) But having the correct coverage can certainly soften your broken heart if your beautiful ring or bracelet or necklace is lost or stolen. 

Interesting fact, jewelry losses are some of the most frequent of all home-contents claims.  Don't become a statistic.  Choosing the correct coverage is as easy as 1, 2, 3...4.

First things first, see an insurance agent.  If you have questions I would be glad to help you. You may find that you already have a small amount of coverage on your homeowners or renters policy.  An agent can help you determine if you will need additional coverage with jewelry rider or endoresement.

Second, bring the store receipt.  Recently purchased jewelry will have a store receipt to verify the value.  Sometimes newly purchased jewelry will come with an appraisal.  Either way your insurance company will most likely required one or both.

Number three, if your jewelry has been passed down from your Grandmother's Grandmother, then a certified appraisal is in order.  A certified appraiser will certify the value of your jewelry at todays market.  NOTE-as the gold and jewelry market changes you should consider reviewing your appraisals periodically.

And finally, add the pieces to your home inventory.  Its often hard, if not impossible to remember everything you own during a loss.  Keep good records, either an itemized record or photo record of all of your belongings.

Hope to see you soon,