All You Need Is Love and Insurance for the Ring

Love-smitten consumers spend billions of dollars annually on engagement rings, necklaces and wedding jewelry. And while such jewelry has long been a visible symbol of love, unfortunately, it also is visible to those with more corrupt motives—namely, thieves.

Here’s some good news: Jewelry is covered under most homeowners and renters insurance policies. However, most policies limit your jewelry coverage under certain circumstances (such as theft) to a set amount, typically between $1,000 and $2,000.

While no financial compensation could make up for the emotional loss if a thief escaped with your treasured possessions, would this limited amount be sufficient even to replace your valuables?

If not, consider purchasing a separate “floater” policy or adding a “schedule” endorsement to your homeowners coverage. Both types of protection are designed specifically to cover particularly valuable items such as jewelry. Coverage is typically for all causes of loss not otherwise excluded (the broadest property protection available) and is often designed to consider the unique nature of certain items, such as valuation and whether the item is simply stand-alone or a part of a pair, set or collection.

Your friends at Apollo Insurance Services are happy to discuss what would work best for your personal needs. Give us a call at 800.426.1088, option 2. Or you can request a free quote.

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