At Valentine’s Or On the Red Carpet, Insurance Is a Fashion Must

At Valentine’s Or On the Red Carpet, Insurance Is a Fashion Must

At Valentine’s Or On the Red Carpet, Insurance Is a Fashion Must

The FINANCIAL -- It’s awards season and Valentine’s season and America is on watch for the glam couture and glitzy jewels. While mainstream Americans may not walk the red carpet like a celebrity, it’s important for New Yorkers to insure your jewels like one.

“Many people don’t wear their jewelry because they are afraid they might lose it,” said Christina Kelly, Allstate New York Spokesperson. “Some pieces hold sentimental value that can never be replaced, but when our customers choose proper insurance coverage on jewels it gives them confidence and peace of mind that they are financially protected when the unexpected happens.”

Homeowners, renters or condo insurance policies typically limit coverage for personal items such as jewelry, furs or couture accessories to between $500 and $2,500, depending on the policy. Jewels like engagement rings, necklaces, bracelets or earrings that exceed that amount, may need additional coverage to help ensure they’re protected. Scheduled Personal Property (SPP) covers most valuable items like jewelry against perils like fire, theft and loss, according to Allstate.

Tips to insure your jewelry

Have a detailed appraisal and be sure to keep the bill of sale. To keep coverage current, have jewelry appraised every five years.

Keep and maintain an inventory of jewelry and individual valuables – this should be part of a broader home inventory to help better understand everything someone owns.

Review your current insurance coverage to determine protection levels.

The tips provided here are guidelines. Please use your best judgment when insuring personal property items.

Available online, the Allstate Digital LockerTM can help consumers create a detailed home inventory of all their items, jewelry and more, that is securely stored online and easily available in case of any disaster or theft.