She’ll love it. Of course she will. And, of course, she’ll say yes…You’ve talked about getting married, starting a family…and you agreed on everything. She’ll say yes. She’ll love the ring.
So why, WHY is this so nerve-wrecking? You asked her father. You’ve got the ring. You got your plan. You’ve made the reservations.
You’ve thought of everything…Even planned a little surprise party ‘afterwards’, to celebrate with family and friends. And, you booked a hotel room for the weekend getaway. The “pre-honeymoon”, so to say. So, it’s all set. Right?
As your insurance agents, we have to say: It sounds absolutely perfect. Except for one detail: Did you get insurance for the ring?
High-value items are insured as part of the “personal property coverage” on a standard homeowner’s or renter’s policy, but only to certain limits. If the value of an individual item (such as an engagement ring) exceeds the stated limit, there is no coverage for the difference…unless you purchased a “scheduled personal property” endorsement.
This advice applies not only for jewelry, but also for antiques, art, high-value rugs, coin collections, firearms, and certain other items.
Jewelry is by far the most common high-value item to be insured. (That’s why we’ll keep the focus on it in this article.) But if you have or buy an expensive item that fits any of the categories above, and you’re wondering whether it is covered on your homeowner’s policy, give us a call or email us. We’re happy to find the adequate protection for your valuables.
Thanks for reading. Good luck planning your big purchases & surprises this holiday season!