Insuring Your Valentine Gifts

Some Valentine’s Day gifts should be insured against theft, loss, or damage. Jewelry is one of the most popular types of gifts for this holiday that’s all about romance and love. A woman who receives an expensive ring or necklace would be smart to insure such an item. Most homeowner’s insurance policies provide limited coverage on personal possessions that are not considered to be fixtures of a property.

In general, renter’s insurance provides much more compensation for jewelry that might be stolen, misplaced, or damaged. Valuables must be listed on an official inventory that is submitted to insurance companies. Sometimes, it might not be possible to receive money for the full market value of jewelry that is insured. Nevertheless, getting a portion of an item’s value is better than receiving nothing at all.

Floater insurance plans can be used to insure Valentine’s Day gifts. Electronics and authentic artwork fall right into the coverage of such packages. Floater’s insurance usually pays for the difference between the real market value of an item and the amount that an external insurance policy will cover. When insuring jewelry and other valuables, photos and detailed descriptions should be recorded. After a claim is filed, an insurance company will review all relevant documentation that proves that an item has been in the possession of an insured client.

Some Valentine’s Day gifts may also be insured via the store or a manufacturer. For example, there are some protection plans for jewelry pieces, watches, and digital gadgets. If something gets damaged, free repairs or replacements may be issued. An individual who purchases an expensive gift should always consider buying an optional protection package that would make the recipient quite happy. Different retailers could offer their own unique insurance plans for expensive merchandise that isn’t typically covered by extended warranties.

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