Receiving Jewelry This Valentine’s Day?

Insurance is not the most romantic topic you want to think about on Valentine’s Day, but if you receive jewelry as a gift, it should at least be on your mind. Today, losses due to damaged or stolen jewelry are among the most frequent property insurance claims. Here are four steps you can take to ensure your new jewelry is protected:

  1. Contact your insurance agent immediately: Insurance policies cover valuable items to set amounts, so it is important to know your coverage limit to determine if your new gift is protected. You may need to purchase an additional policy if the cost of replacing your jewelry exceeds your current coverage limit.
  2. Provide your agent with a copy of the store receipt or have the item appraised: By contacting your agent and giving them the right information, they will know the retail value of your jewelry, which will accelerate the claims process. If you do not have a copy of the receipt, have your jewelry appraised and give a copy of the appraisal to your insurance agent.
  3. Take a photo: The more documentation you have on your jewelry the better.  Photographs can help with the claims process. Also, custom items can sometimes be recreated if the jeweler has a good photograph to work with.
  4. Store your jewelry in a safe place when you are not wearing it:  Valuables should be stored in a safe place or in a safe deposit box.  In your safe deposit box, make sure to have copies of the receipt, appraisal and photos.

There is no way to insure the sentimental value of a Valentine’s Day gift from a loved one, but with the right insurance coverage you can make sure your cherished items are protected. For more information, contact me at or 410.512.4609.

Have a lovely Valentine’s Day!