Following a successful proposal, there are many people to contact. Not only must family and friends be notified of the good news, but it’s also time to begin calling caterers, venues and photographers. In between all of these phone calls, newly engaged women who live in Charlotte, VT should also call their insurance agent. If you’ve recently become engaged, your insurance agent can check to make sure your engagement ring is fully covered by your homeowners insurance policy.

Homeowners Insurance Charlotte, VT

Check Your Homeowners Insurance Policy’s Jewelry Coverage If You Recently Became Engaged in Charlotte, VT

Your Homeowners Insurance Policy’s Jewelry Coverage May Be Limited

In many cases, homeowners insurance policies provide limited coverage for jewelry. There are two ways your Charlotte, VT home’s insurance policy may limit how much protection you have for jewelry.

First, home insurance policies are composed of various coverages, and each coverage has its own limits. Jewelry is usually covered under a policy’s personal property coverage, which may protect everything from clothing and books to electronics and jewelry.

The protections that your homeowners policy provides for jewelry, therefore, will most likely be subject to the limits that your policy’s personal property coverage has. Your policy may provide minimal coverage for personal possessions, or it may offer lots of protection.

Second, within personal property coverage, there can be stricter limits on the coverage provided for specific items. Jewelry is one type of personal possession that’s often subject to lower limits than a home insurance policy’s general personal property coverage provides. For example, a policy may provide $40,000 worth of personal property coverage — but limit jewelry coverage to just $1,000. These numbers are just an example, but the disparity between total personal property coverage and the limits for jewelry is often like this (electronics, firearms, and other possessions may be subject to similar restrictions).

Homeowners Insurance Charlotte, VT

Your Engagement Ring May Exceed Your Home Insurance Policy’s Jewelry Coverage

The value of an engagement ring sometimes exceeds how much jewelry coverage a home insurance policy provides. According to The Knot, the average engagement ring costs $5,798 — which is significantly more than the jewelry coverage provided by many homeowners policies.

Minimal jewelry coverage may have been sufficient before you became engaged, especially if you don’t have many earrings, necklaces, and rings. Engagement rings are often much more valuable than most pieces of jewelry, though, so it’s time to review your home insurance policy’s jewelry coverage if you recently became engaged.

A Charlotte, VT Insurance Agent Can Help Check Your Policy’s Jewelry Coverage

Checking your homeowners insurance policy’s jewelry coverage isn’t difficult. Simply call your insurance agent, and explain that you’re engaged and want to make sure your ring is fully protected. If you don’t have an insurance agent, you can contact an independent insurance agent serving Charlotte, Vermont. Almost any independent agent serving the area will be able to help you review your policy’s jewelry limits and see whether they need to be increased.