Valentine’s Day and Insurance = love and happiness


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They say diamonds are a girl’s best friend – but my insurance broker comes in a close second 😉

I feel as though this may need a little clarification. Many moons ago when I was much less wise and knew nothing of insurance, I was shopping in a jewellery store and asked them to clean my wedding ring. The jeweller asked to inspect the beautiful ring and I proudly consented… it was then I found out I had somehow managed to chip that beauty of a diamond (it turns out I’m very hard on my jewellery).

Long story short, my broker, smart cookie that she is, had placed a rider on my insurance that covered any damage to my ring – no deductible – no questions asked. That baby was promptly replaced by a new, unscathed diamond. No hard lessons were learned that day – nor should they be.  

Often there is the misconception all items like jewellery are covered under home insurance. While it’s true possessions are covered under a home or tenant’s insurance policy, there are restrictions on standard homeowners, condominium or renters insurance policies which have a limited amount of coverage for jewellery and other valuable items.

Some of your jewellery may be covered under your homeowner’s insurance policy; however, additional coverage may be necessary if the amount that you own exceeds your policy’s limits. Here are a few tips to ensure your valuables are protected:

If you’re the lucky recipient of jewellery this Valentine’s Day, be sure to check in with your insurance broker to ensure you’re properly covered.