Surprising your special someone with jewelry this Valentine’s Day?

Make sure it is properly protected 

By: Edward L. Blais, JD, CIC
President, Blais Insurance

Your friends at Blais Insurance would like to wish you and those you love an extra-special Valentine’s Day. Just as we do all year long, we would also like to take the time to remind you of how best to protect your baubles and bangles from loss.

If you are considering a jewelry purchase for your special someone, we urge you to call our office today to inquire about how to properly protect it. Many people falsely believe that jewelry is automatically insured to value and for all possible exposures to loss on an existing policy, but that is not always the case. Luckily however, adding jewelry to an existing homeowners, renters or condo insurance policy is usually an easy and surprisingly inexpensive process.

Oftentimes, coverage depends on the value of the jewelry as well as the type of loss incurred (fire, theft, etc.). The best way to ensure total protection is to “schedule” the item or as it is commonly referred to, “add a jewelry rider” to your policy.

Coverage under a schedule normally deletes any deductible provision paying instead in the event of a covered loss from dollar one, and typically extends to the following:

• Theft
• Damage
• Loss

This type of insurance is very affordable and can be purchased for around 1% - 2% of the total value of the jewelry. To find out how inexpensive peace of mind can be, call Blais Insurance today at 725.0070. 

(With data provided in part by Progressive Insurance)