Nothing is more romantic than a marriage proposal for Valentine's Day! The first step after handing over a valuable engagement ring – perhaps the second after the "Yes!" Should be a practical one: call your insurance agent.
You cannot take out insurance
the sentimental value of such a gift with the right sum insured
provide financial protection.
Jewelry losses are
among the most common of all homeowners insurance claims. Take these four
Steps ensure adequate protection for your new ring:
Contact your insurance agent immediately.
Find out if you
need additional insurance. Most standard homeowner and tenant insurance
Policies cover personal property such as jewelry; however many
Limit the dollar amount for jewelry to $ 1,000 to $ 2,000. With the average commitment
According to The Knot, a ring that costs almost $ 6,000 may not cost enough.
To properly insure
Jewelry, consider buying a floater or advertising policy. In most cases, these add-ons to a
Homeowner or tenant policy would also cover you for "mysterious"
Disappear. "That is, if a ring falls off a finger, it is rinsed to a
drain or get lost, you would be financially protected. And unlike a homeowner
Politics, floaters and endorsements have no deductibles, so there are none
Expenses to replace the item.
Receive a copy of the business receipt.
Forward a copy of the
Receipt to your insurer – your company has a record of the current ring
Sales value – and keep a copy for your own records. It is also a good idea
You will receive a copy of the estimated value of the item.
If you have received an heirloom, have it assessed.
Antique jewelry will
must be valued for its dollar value. You can ask your insurance agent for this
recommend a reputable expert.
a house inventory list
A house inventory is a
List with detailed information on personal property and items such as jewelry. A
Up-to-date inventory can speed up the claims process in the event of loss.
For jewelry we have
recommend adding the following information to your list:
- Item description (included
Type of metal, stones, carats, etc.)
- Reviews and
- Date of purchase
- place of purchase
More information about
Homeowner Insurance: What Is Covered by Standard Homeowner Insurance?