Valentine’s Day is upon us. Are you going to give her those diamond earrings she’s been dreaming about? Is he receiving a Rolex? It’s a perfect time to post about homeowners insurance and your valuable items. High-value items are insured under your homeowners policy as part of the personal property coverage, BUT only to certain limits. Maybe $1000 or $1500.

Jewelry is by far the most common high-value item to be insured. Did you know you can insure all your expensive items such as furs, silverware, coins, and fine art with a Valuable Items endorsement or an Inland Marine policy?

Coverage for valuable items is available at a surprisingly low cost. And if you have a loss, it’s not subject to the homeowner deductible.

I’d also like to add that if you and your significant other don’t live together, the insurance question can become a little more complicated. As long as the item is still in your possession, you can insure it on your homeowners or renters policy. But as soon as you give it to your loved one – it becomes theirs and must be insured on their homeowners or renters policy. When in doubt, call your agent.