With proper planning you can be sure that your homeowners insurance or renters insurance policy will help cover the cost of a stolen engagement ring. A frequent question is often, who should buy the insurance? The person who purchased the ring or the recipient? It is important to note that if the couple is not living together, the person who is holding the ring, whether on a finger or at home, is the one who is inured.
A typical homeowners insurance policy covers personal property anywhere from 50 to 70 percent of the amount of insurance you would have on the structure of your home. This means that a home with $100,000 worth of insurance on the structure would have anywhere between $50,000 ti $70,000 worth of coverage for personal belongings including clothes, electronics, equipment, and jewelry.
If you are planning an engagement, be sure to talk to your agent about your current personal property coverage limits as well as the options you have to protect the investment. For a no obligation quote call us today at (386) 734 3970