Brooke Insurance: Thinking about Buying Jewelry this Valentine's Day?

The Valentine's Day holiday is quickly approaching and many people will be choosing jewelry for loved ones – perhaps a ring for a marriage proposal or an elegant necklace or bracelet for a spouse. Either way, jewelry is traditionally the ultimate gift to symbolize admiration and love. That is why Brooke Insurance, a franchise of Brooke Capital Corporation, is encouraging people to get the proper insurance coverage on personal items such as jewelry as the holiday comes knocking on our doors.

"It is vital that insurance is considered as people begin to purchase expensive jewelry items or gifts for their spouses or other loved ones this Valentine's Day," said Kyle Garst, chief executive officer of Brooke Capital Corporation. "It is very common for homeowner policies to have certain coverage limits. In fact, most policies require that additional coverage be purchased to protect valuable items, like jewelry, that are often kept at home."

Garst offers the following tips on how to take proper safety measures.

• Be sure to keep a list of the pieces of jewelry you keep in your home, as well as the appraisal amount for each item, if available.
• Do not keep jewelry out in the open – it may lead to loss or theft.
• When you leave your home, make sure all windows and doors are locked.
• If you own jewelry that you do not wear frequently, a safe deposit box might be good to keep in the home. Note: bedrooms are usually the first places to be burglarized.
• Keep valuable items in a safe, enclosed place when you have guests. Storage places for your jewelry should not be common knowledge to anyone.
• Jewelry should be inspected regularly, especially rings. Rings should also be inspected for damage and fixed as soon as possible.

According to a recent article written by the Oklahoma insurance commissioner, a typical limit for jewelry on a homeowner's policy is estimated at $1,000. Garst said that people should also keep in mind that estimates vary, depending on the type of loss for the jewelry, such as fire, theft, storm damage, etc.