Monday, February 16, 2015

How to Insure New Jewelry

Valentines and proposals are in the air! And this means that you might find yourself with a new diamond ring or expensive piece of jewelry in your home. Many people spend thousands of dollars on beautiful jewelry but don’t take the time to find out how to insure it. And this can be a big mistake! If you have homeowners or renters insurance, then your jewelry is covered as part of the contents of your home. But there can be problems...

1. We don’t know what it is worth. It’s hard to get the full value of your jewelry back if you don’t know all of the specifics! Weight, color, cut, size, and so forth are all factors in the value. Ten years from now you might not even remember how much you paid.
2. You probably have a large deductible on your homeowners insurance. Typically your contents coverage deductible is around 1% of your home value. So if your home is insured for $200,000, then your deductible is $2,000. If your ring is stolen, you’d be responsible for the first $2,000 before insurance kicked in!

But there is a simple solution to avoid all of these problems. Our homeowners and renters policies allow you to “schedule” jewelry for a small additional cost. You bring in the receipt and appraisal of the item and we add all of that information to your policy. (Sometimes we don’t need all of this, just call us first and we can let you know.) You will be charged based on the value of the item, but typically it’s less than $40 per year! (Sometimes much less, sometimes a little more. It all depends on how much insurance is required.) Plus, scheduled items don’t require a deductible. So if your ring is lost or stolen, you pay nothing out of pocket but get to replace your precious jewelry. So next time you open a jewelry box and put a sparkling diamond on your finger, make sure that you are insuring your investment. Have questions about scheduling items on your homeowners insurance? Call us today for assistance at 703-556-7857!

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Friday, February 6, 2015


A lot of people put off purchasing life insurance because it seems like a hassle. You don’t want to do any sort of medical appointment. It’s an extra expense. And, for the most part, you just plain don’t want to think about death. But life insurance isn’t about you. It’s about the people you love. And what better time than February to think about love! So let’s get real. You do a lot for your family and if you have family members who depend on your income, then you need life insurance. And the sooner, the better. For one, life insurance is cheaper when you are young and healthy! With each birthday you’ll see your quote go up unless you lock in a great rate now. And you don’t want to look for life insurance after you’ve been diagnosed with an illness. Another great thing about life insurance is that there are a lot of options. And we’re here to discuss all of them with you. You can purchase a policy for the short term or even as a long term investment. It all depends on how much you can afford to spend and what your family needs are. Whatever your situation, sitting down and discussing your needs and budget with an agent is a great first step. Call us today at 703-556-7857 to set up a free, no-obligation appointment!

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