Is Your Jewelry Scheduled? A Valentines Day Post

Is Your Jewelry Scheduled? A Valentines Day Post

Is Your Jewelry Scheduled?

According to, it is estimated that approximately $19 billion is spent on Valentine’s Day in the United States. WOW! $19 BILLION! Even with all the scary things that we hear about in the news, there is still A LOT of LOVE in the United States! Approximately 54% of Americans participate in buying gifts for those special people in their lives. The most popular gifts purchased for Valentines Day are as follows:

Jewelry 24%

Evening out 19%

Flowers 10%

Candy 9%

Clothes 20%

Cards 65%

*The above values are approximates.

If you happen to be one of the approximately 24% who are either buying jewelry for a loved one or receiving it, you will want to think about insuring it. Basic coverage under homeowners policies is limited for specialty items, one of which is jewelry. When expensive jewelry is purchased, it is important to notify your insurance agent right away to get it scheduled. Scheduling means purchasing an endorsement for your jewelry so that it is adequately covered in case it is lost, stolen, or damaged. It involves having the jewelry appraised to insure coverage for a specific value. It costs $1.00 per every $100.00 value to purchase an endorsement. For example, if your $5,000.00 tennis bracelet is stolen while on vacation, a basic homeowners policy only covers $1500.00 for theft. (Pathfinder Property and Casualty textbook pg. 5-12) That would be sickening if you did not have an endorsement for that piece of jewelry! A simple call to your agent to schedule the bracelet would make sure your bracelet would be fully covered.

Enjoy Valentines Day, and remember if you make a purchase of jewelry or any other specialty item for that matter, call your agent and request to purchase a Personal Articles Floater (endorsement) so that you can rest assured your gift will be covered in the event it is lost, stolen, or damaged.

*Jane Freeman is licensed in Property and Casualty Insurance at Peck and Wood Insurance.

Jane Freeman
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