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Protecting Valentine's Day treasures with homeowners insurance

Posted On Tue, February 15, 2011

With chocolates, flowers and jewelry being among the most common gifts women receive from their boyfriends and spouses each Valentine's Day, the Insurance Information Institute wants to make sure one of those gifts lasts a lifetime.

To protect valuables, like jewelry, from being stolen or damaged, III reminds consumers that home insurance covers more than a home. It also covers a home's valuables, which is why III recommends purchasing extra coverage.

"To properly insure jewelry, consider purchasing additional coverage through a floater or an endorsement," said Jeanne Salvatore, III senior vice president and consumer spokesperson. "While there is no way to insure the sentimental value of jewelry, at least having it properly insured will provide financial protection in the event it is lost or stolen."

Having a necklace or earring appraised, keeping a copy of the store receipt and taking a picture of the item are three things III says will help expedite the claims process.

Traditional home insurance policies usually have limits on how much the policy will cover for valuables that are stolen or damaged. Thus, to protect newly-acquired valuables, it's necessary to purchase additional coverage.

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