Diamonds are a girl’s best friend, especially on Valentine’s Day. Rings, earrings, necklaces, and bracelets are already flying out of jewelry stores. Jewelry is a beautiful, lifelong symbol of love between two people. While your first thought when receiving jewelry is probably not about your insurance coverage, you might want to consider it soon. In order to properly cover your jewelry, there is special coverage that you need to add to your existing homeowner’s policy.

If you have a homeowner’s policy, you might assume that your jewelry is covered under property. That is not entirely correct. While the property section of a policy has a section regarding jewelry, it will only protect your jewelry if it is stolen and will typically only provide coverage up to $2500. If anything else happens to your jewelry, you are, unfortunately, out of luck. The best way to protect your rings, earrings, necklaces, and bracelets is through a floater. A floater is additional coverage that is added to your homeowner’s policy. By adding the floater, your jewelry will be covered if it gets damaged, lost, or stolen. If the stone falls out, you are covered. If your ring falls down the garbage disposal, you are covered. The jewelry floater provides very broad coverage to your jewelry in case of nearly any accident. In order to add this to your existing insurance policy, you just need to provide a copy of an appraisal and a picture of the jewelry. Floaters aren’t just for jewelry. They can be used to cover musical instruments, guns, furs, and collectables. At Kasmer Insurance, we recommend updating your appraisal after a few years. The price of gold and silver is always changing, and it could be worth more now than the last time it was appraised. Jewelry floaters are great for protecting your jewelry at a relatively low cost.

If your Valentine’s Day is especially nice and you’ve received something special that needs added to your policy, call us or email us. Also, don’t forget to check out our Facebook page.