Buying Jewelry for Valentine's Day?

The National Retail Federation is estimating that $4.1 Billion will be spent on jewelry this Valentine's Day.  A national survey, done by Sears, says that 40 percent of couples that are in a serious relationship say they expect to or plan to get engaged on Feb. 14th this year. These statistics show that some bling will be trading hands this month.

Jewels are not always covered by homeowners insurance, depending on what kind of policy you have and what company your insurance is through will determine the amount of jewelry coverage you have, many companies cover jewelry up to $1000 to $2500. When you purchase new jewels you have to make sure your company is aware of them and put them on a "schedule," basically a spreadsheet that shows what you own and how much its worth, an appraisal is often needed for this step. Then if the value of your jewels exceeds what is covered by your homeowners you can purchase what is called a "jewelry floater" in order to make sure all your valuables are covered.

Sound complicated? Just call us at Copeland Insurance and we'll make it simple for you!