Thinking about Buying Jewelry this Valentine's Day?
For full security against theft or disaster, Brooke Insurance suggests getting proper insurance for new jewelry items
The Valentine's Day holiday is quickly approaching and many people will be choosing jewelry for loved ones – perhaps a ring for a marriage proposal or an elegant necklace or bracelet for a spouse. Either way, jewelry is traditionally the ultimate gift to symbolize admiration and love. That is why Brooke Insurance encourages people to get the proper insurance coverage on personal items such as jewelry as the holiday comes knocking on our doors.
"It is vital that insurance is considered as people begin to purchase expensive jewelry items or gifts for their spouses or other loved ones this Valentine's Day," said Kyle Garst, chief executive officer of Brooke Capital Corporation. "It is very common for homeowner policies to have certain coverage limits. In fact, most policies require that additional coverage be purchased to protect valuable items, like jewelry, that are often kept at home."
Garst gives jewelry buyers, and those who receive jewelry as a gift this Valentine's Day, the following tips on how to take proper safety measures.
• Be sure to keep an accurate list of the different pieces of jewelry you keep in your home, as well as the appraisal amount for each item, if available.
• Do not keep jewelry out in the open. Leaving jewelry out may lead to loss or theft. Also, be sure not to leave valuable jewelry unattended or unsecured.
• When you leave your home, make sure all windows and doors are locked. And, if you have a security system, be sure to keep it activated.
• If you own jewelry that you do not wear frequently, a safe deposit box might be good to keep in the home. Note: bedrooms are usually the first places to be burglarized. Therefore, it is safer to store the safe deposit box in another area of the home.
• Keep valuable items in a safe, enclosed place when you have guests. Storage places for your jewelry should not be common knowledge to anyone, except for those living in your home.
• Jewelry should be inspected regularly, Garst said, especially rings. In addition to being cleaned on a regular basis, rings should be inspected for any damage and fixed as soon as possible.
According to a recent article written by the Oklahoma insurance commissioner, a typical limit for jewelry on a homeowner's policy is estimated at $1,000. For those individuals who have renters insurance, estimates are less; it could be $500, for example. Garst said that people should also keep in mind that these estimates vary, depending on the type of loss for the jewelry, such as fire, theft, storm damage, etc.
Adequate insurance coverage for personal items will ensure that they are replaced or repaired in the case of theft or disaster. "Implementing the proper insurance policy for your personal items in your home is the best way to guarantee that all of your items, including jewelry, are secure. Imagine how devastating it would be to lose a piece of jewelry that holds much significance and not be able to replace it," Garst added. "We are proud of the fact that the coast-to-coast strength of Brooke Capital Corporation gives our local agencies access to the top insurance company markets in the country."
For more information, contact your local Brooke Insurance agent by calling toll free, 866-77-AGENT.