Protecting your New Valuables

Have you reached that fairytale ending?  Did he get down on one knee this valentine’s day with a ring and an engagement proposal?  Congratulations, we could not be happier for you!  But now you should consider what this large investment could mean for your insurance.

While jewelry is normally covered under your homeowner or renter’s insurance, most plans have an upward limit of funds they will pay out on a singular item (generally $1,000 for jewelry).  Make sure that you have your ring appraised and, if it’s worth more than your limit, you should consider either insuring it separately, scheduling it on your existing policy, or adding a ring rider to your policy.

"Scheduling" items means that you list them (and their value) independently and, in the event you must replace it, you pay no deductible.  You will, however, have to maintain its rate independently as the price of gold inflates.

Adding a ring rider is a simple process and essentially adds a small policy for just your ring onto the policy you already have.  Speak to your agent to find out what is best for you.

For more information on auto insurance, home, life, or business insurance in California, contact Pulp Street Corporation

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