Valentine’s Day comes with fun and love but also meaningful gifts like engagement rings, fine jewelry, or heirloom pieces. While these items hold sentimental value, they can also be significant financial investments, making it essential to protect them. Here’s how to ensure your valuables are properly insured:
1. Get an Appraisal The first step is knowing the value of your jewelry. A professional appraisal will provide documentation of the item’s worth, which is crucial for determining appropriate coverage. Keep the appraisal up to date, especially for pieces that may appreciate in value.
2. Review Your Current Coverage Homeowners or renters insurance often provides limited coverage for valuables, typically capped at a specific amount. If your items exceed these limits, you may need additional protection.
3. Consider a Personal Articles Policy A personal articles floater or policy offers specialized coverage for high-value items like jewelry, art, and collectibles. These policies cover a wider range of risks, such as theft, accidental damage, or loss, even outside your home.
4. Keep Documentation Safe Store receipts, appraisals, and photos of your items in a secure location. This will simplify the claims process in case of loss or damage.
5. Update Policies as Needed If you add new pieces to your collection, notify your insurance provider to update your coverage accordingly.
This year, take steps to protect the gifts that matter most—both financially and emotionally. Contact us today to explore your coverage options.