Valentine’s Day is coming up, and soon we will be inundated with commercials enticing us to buy jewelry and other expensive items.  In all of the fun and excitement of surprising that someone special in your life, don’t forget to make certain that those gifts are properly insured.

Homeowners Insurance Coverage

Some people think that their homeowners policy covers all of their jewelry, guns, collectibles and other items. After all, most homeowners consider these items their personal property or contents.  That is true to an extent.  However, most homeowners policies either limit amounts of coverage for these items, limit the type of perils insured against (such as theft), or limit both. You may be unaware of these limitations. I mean, how often do you sit down with a cup of coffee and read your policy?  All of that legalese is confusing and often boring!

Here it is, plain and simple: on the normal HO-3 policy (insurance talk for standard homeowner policy), jewelry is only covered for theft with an average sublimit of $1,500.  There is also a sublimit for other valuables, such as firearms and silverware.  Check with our agent to see what your limits are.

Personal Articles Insurance Coverage

What if a stone fell out of a ring?  What if you just misplaced or lost it?  What happens then?  Well, your homeowner policy would not cover those types of losses.  At times like these, a personal articles floater would be the type of policy you need.

A personal articles floater would be the ideal way to insure your jewelry and other valuables.  What is great about this type of policy is that it covers ALL RISKS – even mysterious disappearance.  Some homeowners policies allow you to add this coverage to your policy and allow you to pick a separate deductible. You can also purchase this as a stand alone policy.

Again, talk to your agent about any documents needed to get your Valentine’s Day loot covered (save those receipts!).  Insurance companies have different guidelines on adding these types of coverage. 

Oh, and *bonus* did I mention that this coverage isn’t all that expensive?  It may save some heartache down the road, and on Valentine ’s Day, heartache is to be avoided at all costs.

For more information on homeowners insurance, contact your local insurance agent, Sandi Purinton with The Insurance Connection. Contact her at 678-439-8757 or to get a free insurance quote and review.

Disclaimer: This material is for information only and is not intended to provide legal or professional advice. You are encouraged to consult with your own attorney or other expert consultants for a professional opinion specific to your situation. This information is only a general description of the available coverages and is not a contract. In an effort to keep your policy coverage affordable, the actual policy contains certain limitations and exclusions. Please refer to your insurance policy for the pertinent contract language and coverages. Some coverages and discounts are not available in all states. The Insurance Connection welcomes all applications, without regard to religion, race, color, national origin, sex, handicap or familial status.