Valentine’s Day can affect your life insurance, it can also affect your home insurance. For instance, Valentine’s Day brings the standard holiday risks to your home insurance. In other words, romantic dinners can turn into house fires. There is also the standard winter risk. February is typically cold and icy so you have your slip and fall exposures. However, what is one thing that Valentine’s Day brings that people do not think of in regards to their home insurance? That answer is an engagement ring. An engagement ring can be a large expense that may not be covered correctly by your standard homeowners policy. Most homeowners policies cover jewelry but only for special perils. There is also potentially a limit on the amount per piece. An inland marine or a jewelry rider on your home insurance can eliminate these problems.
What should I do with my ring?
Scheduling your new engagement ring allows the insurance company to treat this particular piece of jewelry different. This coverage could require an appraisal depending on the age of the ring and the cost. First you can select a different deductible for the ring. Losing a ring can be a traumatic experience. Not having a deductible can make it a little easier. You also eliminate the cost per piece limit. By scheduling your jewelry you do not need to worry about a policy limit of 5k or 10k on a 40k piece.
Should I call my insurance agent?
Valentine’s Day can be an exciting day, it is not typically a day you think about your home insurance and your insurance agent. After the exciting day give us a call and let us help you make sure that your ring is properly insured. It is also time for us to talk about life insurance and your increased need. In the mean time check out this life insurance calculator. ( https://lifehappens.org/life-insurance-101/how-much-life-insurance-do-i-need/ ). Want to schedule an appointment to talk to us, see the link below. We hope that everyone has a great Valentine’s Day.
Client Center: https://icpitt.com/client-center/
