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What Every Sweetheart Should Know: Jewelry and Other Valuables Require Special Insurance Coverage

Valentine’s Day is right around the corner!

With this most romantic of holidays looming, are you considering a jewelry purchase for your sweetheart? If so, you’re probably so excited to see the look on your special someone’s face as you present them with this thoughtful treasure that the last thing on your mind is insuring it.

Should you? That depends. While there’s no way to insure the sentimental value of these gifts, the right kind of coverage can offer financial protection.

Most homeowners policies have some coverage for personal property, but a deductible would most likely apply and in certain types of common losses (such as losing a piece of jewelry), you would not have any coverage on a standard homeowners policy.

Scheduling coverage on specific valuables, on the other hand, creates a “separate limit” for these particular pieces. Most insurance companies will even let you do this with no deductible for a reasonable price!

Ultimately, it’s your choice – but we often tell our customers that if a jewelry piece has particular sentimental value, or if it was lost and you couldn’t afford to run out and replace it, then you should consider this additional coverage.

Also worth noting, if you already have jewelry scheduled, consider getting an updated appraisal on the items. With the price of metals continually changing, your jewelry could be worth much more than when you added coverage several years ago.

Protection and peace of mind regarding your valuables is just a phone call away.