Erie Insurance and Williams Agency
Want to Help Ensure Your Valentine is Covered
(Erie, Pa., 03/03/2010) - Losing an engagement ring or other expensive piece of jewelry can be a devastating experience for both the giver and receiver. While no one can put a price on sentimental value, insuring your jewelry will keep it financially protected and provides peace of mind.
“Most homeowners and renters insurance policies include coverage for expensive personal belongings like jewelry,” said Dan Williams of Williams Agency “But many policies limit the dollar amount for theft so you may have to purchase an additional rider on the policy. It is always good practice to review your policy whenever you purchase new expensive items.”
The following tips from Erie Insurance will also help protect your new treasure:
- Contact your agent – Let your agent know about new jewelry immediately. Find out how much coverage you have and if any additional coverage is needed.
- Have the gift appraised – If the jewelry is an antique or was purchased several years ago it will need to be appraised for a dollar value. Ask your agent for the name of a reputable appraiser.
- Keep the store receipt – Keep a copy of the receipt for yourself and include it with your home inventory. Forward a copy to your insurer so they know the current retail value of the item.
- Take a picture of the item – Keep a visual record of all of your personal possessions. This will help you document your loss and speed up the claims process.
- Store the item in a secure location – If you don’t use the item on a regular basis you may want to consider keeping it in a safe deposit box.
According to A.M. Best Company, Erie Insurance Group, based in Erie, Pennsylvania, is the 16th largest automobile insurer in the United States based on direct premiums written and the 18th largest property/casualty insurer in the United States based on total lines net premium written. The Group, rated A+ (Superior) by A.M. Best Company, has over four million policies in force and operates in 11 states and the District of Columbia. To learn more, visit www.erieinsurance.com.
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