Love is in the air. It takes me back to Valentine’s Day last year when Dave & Carley finally got engaged.
It was a beautiful evening. They went to a 5-Star restaurant to celebrate. They had the works; champagne, shrimp cocktail, and reuben sandwiches.
At the restaurant that evening Carley went to the powder room to freshen up a bit. She took her ring off to wash her hands. She didn’t think anything of it and walked off without her ring.
Until later that evening…when it hit her. Her heart sank. She ran back to the restaurant and learned her ring was gone. No where to be found.
However, luckily for Carley, prior to the engagement Dave had added the ring to his homeowners insurance policy. So they were able to replace the ring with no deductible and live happily ever after.
Who says insurance can’t be romantic?
READ MORE: An Insurance Guide for Newlyweds
Is Insuring Jewelry Necessary?
If Dave wouldn’t have added Carley’s engagement ring to his homeowners policy he may have had limited coverage, if any. Plus it would have been subject to his deductible.
Generally homeowners insurance has limited coverage for jewelry if it is stolen or accidentally misplaced. The solution is to add a jewelry rider to your homeowners policy that provides full replacement of the lost or stolen jewelry.
When you add this type of rider you will be required to provide an appraisal. Most of the time the deductible for a jewelry rider is $0, $50, or $100.
Some insurance companies will add the rider to your homeowners policy. While other insurance companies will offer a separate policy for jewelry.
This also applies to firearms and other collectibles of high value in your home.
This year, give us a ring. Let us create a plan to protect you and your family.