Jewelry and engagement ring insurance can protect your Valentine’s Day Purchases!

How to Protect your jewelry and engagement ring purchases with Insurance

It’s likely that your plans for Valentine’s Day, don’t include a visit to your local McSweeney & Ricci Insurance office, (although we’d love to see you and p.s. we like chocolates). But, if you’re planning on gifting expensive items such as an engagement ring, a diamond bracelet, jeweled earrings or a nice watch, you’ll want to give us a call.  Your jewelry or engagement ring purchase may cost several months of your salary, so you’ll want to make sure it’s fully protected by insurance.

The typical homeowners and renters insurance policy covers your jewelry and other possessions from fire, theft, and the other perils listed in your policy, but there’s a limit to how much money a policyholder can be reimbursed after a piece of jewelry is stolen. Many policies limit the coverage for jewelry to only $1,000 or $2,000, which won’t cover the cost of the average engagement ring. “According to the Knot’s 2016 Real Weddings Study, Americans spent an average of $6,163 on engagement rings.”  To make sure your jewelry is fully covered, you’ll need to add it to your insurance policy.

There are two choices for keeping your Valentine’s bling protected:

 

 

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