Declaring your love to someone can be an expensive matter, and this insurer is reminding consumers to protect valuables.
Valentine’s Day is coming up very quickly, and lovers across the country are making insurance news as they shop for special gifts to help to declare their love, but at the same time protecting their investments with the right coverage.
Roses and chocolates are one thing, but engagement rings are something else altogether.
This very romantic day is a traditional day for many people to propose to the people they love. This usually means that hundreds and thousands of dollars are spent on an engagement ring – an investment that is worth protecting. Allstate has released an insurance news report that has reminded these individuals that protecting the financial investment in these rings is vital.
The worst insurance news that could happen on that day would be a lack of coverage for a lost or stolen ring.
After all, Valentine’s Day is a time that thieves know will be filled with gifts of jewelry, including expensive engagement rings. Moreover, this is the date on which the largest number of recipients will be wearing expensive rings that have not yet been custom sized to their fingers. This increases the risk of having them slip off at some point in an evening that is filled with distraction and romance.
Allstate has also pointed out that it is important to be sure to have additional coverage placed on homeowners, condo, renters, or manufactured home insurance that specifically covers the engagement ring, diamond bracelet, or stunning necklace and pendant that is given as a gift on Valentine’s Day or any other day of the year, for that matter.
Most policies will offer a set limit that will pay only a set amount for specific items such as jewelry or fine art. If the Valentine’s Day gift – such as an engagement ring – has a value that exceeds that amount, then Allstate’s insurance news statement recommends that consumers consider additional coverage, such as the scheduled personal property (SPP) product that will cover the most valuable items that against issues such as loss, theft, fire (possibly from that romantic candlelit dinner) and other common perils.