Jewelry Insurance: Protecting Your Proposal
84% of Canadians celebrate Valentine’s Day, with 60.9% spending an average of $100.89 per person. We know, it has become a bit commercialized, but the message is still good all the same: Show the person that you love just how much you care about them. Many people will be showing their love this Valentine’s Day with an engagement ring.
An engagement ring is often times an expensive investment, one that you will want to be sure you are able to protect. While you cannot buy a standalone Jewelry Insurance policy as a consumer, you can add it on to your home or renters insurance. This rider or floater as they are known, will you give you protection against theft, loss and “mysterious disappearances.”
A standard home or renters insurance policy will only cover you for up to $1,000-$2,000 per covered loss, but a jewelry rider will cover your full loss and you won’t have to pay any out of pocket expenses because there is no deductible.
So how do you go about getting Jewellery Insurance? You can start by contacting your agent at Alpine Insurance & Financial for a free quote. We do ask that you submit to us a receipt from the store detailing the dollar amount you spent on the ring, as well as a note from the appraiser. If you are proposing with an heirloom it is particularly important that you visit a reputable appraiser so that we are equipped for the proper value of the ring.
Remember, you will need to add an jewellery you insure to a list of your home inventory. The Jewellery Insurance is assigned to one address only, so be sure that if you move, or are planning to move, the policy moves with you.
Alpine Insurance and Financial wishes you the best of luck on your Valentine’s Day Proposal!
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Photo – © leungchopan – Fotolia.com
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