A Valentine’s Day reminder to protect what matters most
Valentine’s Day has long been one of the most popular times of year for jewelry purchases. Engagement rings are presented. Anniversaries are celebrated with upgraded diamonds. Luxury watches, bracelets, and heirloom-quality pieces are gifted to mark meaningful milestones.
These pieces carry emotional value that cannot be replaced.
But financially? They absolutely can — if they’re insured properly.
Every year, we speak with homeowners who assume their new jewelry is automatically and fully covered under their homeowners policy. In reality, most standard policies include strict limitations on jewelry — especially for theft. It’s common to see sublimits of just $1,500 to $2,500 for stolen jewelry. Even more surprising, many policies do not cover mysterious disappearance at all.
That means if a ring slips off at the beach, falls off a bathroom counter while traveling, or simply goes missing, there may be no coverage.
This is where scheduling jewelry becomes essential.
When a piece is scheduled — typically through a personal articles floater — it is insured separately with its own agreed value. Coverage is significantly broader. It generally includes protection for mysterious disappearance, has no deductible in most cases, and applies worldwide. Most importantly, the value is predetermined based on an appraisal, eliminating uncertainty at claim time.
For clients who invest in fine jewelry, luxury watches, art, furs, and designer handbags, scheduling these items is not excessive. It is prudent.
Valentine’s Day also serves as a natural checkpoint to review your overall inventory of valuable personal property. Collections tend to grow quietly over time. An upgraded engagement ring. A new Cartier bracelet. A few additions to an art collection. A milestone anniversary gift.
If coverage isn’t reviewed regularly, it can easily fall out of alignment with reality.
Another critical component of proper protection is maintaining updated appraisals. Precious metal and diamond markets fluctuate. Luxury goods appreciate and depreciate based on market conditions. We recommend updating jewelry appraisals every three to five years — sooner if market values shift significantly. Keeping digital copies of appraisals, receipts, and photographs stored securely can also make a significant difference in the event of a claim.
Beyond jewelry, we encourage maintaining a current inventory of high-value personal property. A simple spreadsheet noting the description, value, appraisal date, and photographs of each item can provide clarity and ensure nothing is overlooked. This applies to fine art, wine collections, luxury handbags, silverware, firearms, antiques, and other heirlooms.
The goal isn’t to overinsure. It’s to insure accurately.
At Lotfey Dennett Insurance Brokers, our role is to ensure there are no surprises at claim time. A brief annual review can determine whether your current limits are adequate, whether newly acquired items should be scheduled, and whether appraisals need updating.
Love confidently this Valentine’s Day.
If you’ve recently purchased jewelry — or plan to — we’re happy to review your coverage and make sure what matters most is properly protected.
