Protecting a glittering heart

Leading up to Valentine’s Day, thousands of jewelry stores around the world have been buzzing. Jewelry is the number one all-time favorite gift on Valentine's Day, and hearts are the most popular jewelry item given. But the dazzle of that new diamond heart needs to be protected.

 

“What a shame it would be to have your heart stolen when it's not by the one you love! Yet theft is the number one cause of loss for jewelry," said Rebecca Hudzik-Presson, assistant vice president of claims and risk services at the Allianz US subsidiary Fireman's Fund Insurance Company.

 

“Jewelry is a reflection of who you are and connects you to special events and people in your life. The most important way to protect your jewelry is to create a pre-disaster plan that includes inventory, theft prevention, and damage from water or fire,” she adds.

 

Engagement rings are also at the top of the most popular gifts on Valentine's Day.  The US market for jewelry is now 71 billion dollars with approx. 7 billion dollars spent on diamond engagement rings.  It's a big investment for most and should be protected.

 

Theft is not the only risk

 

Insurance may not be the first thought when purchasing a romantic gift for that special someone, but it should be the second. "While theft accounts for 80 percent of jewelry losses – another 20 percent are caused by mysterious disappearance – there are other risks like stones falling out of settings and simple dents and scrapes,” says Presson.

 

The majority of jewelry thefts occur when personal jewelry is visible or accessible for friends, workers, and thieves to steal. According to crime statistics, diamond, engagement and wedding rings are jewelry most likely to be stolen. Consider how easy would it be for someone to break into a home, hotel room or office unnoticed and steal valuables. A jewelry thief often only needs a few minutes to steal that precious heart.

 

More important than insurance cover after the fact, no one wants to lose or damage their jewelry in the first place. Its emotional value is often much higher than its worth in dollars and cents. Prevention is the key, and with a few careful measures, you can make sure the memory of this Valentine’s Day and many other precious moments is preserved for years to come.

Protecting a glittering heart

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Janet Ruiz
Fireman's Fund
Phone +1.415.899.5381
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