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It is that time of year when many of us give that special person in our lives a gift that they will enjoy year round. Valentine’s gifts typically include watches, jewelry, art, cameras and other valuable items. Call L.A. Bowen Insurance today to make sure these are properly covered under your homeowner’s insurance policy.

CNN reports that Valentine’s gift spending will reach $18.6 billion dollars this year. $4.4 billion dollars will be spent on jewelry alone. Other interesting Valentine’s Day facts:

  • $1.6 billion dollars — The amount people will spend on candy.
  • $1.9 billion dollars — The amount people will spend on flowers.
  • 40.7% — The percentage of people who will use their Smartphone to purchase Valentine’s gifts.
  • 151 million — The approximate number of cards that are exchanged on Valentine’s Day.

Whatever you may do this year, if you purchase an expensive item for that special person, make sure you get it insured. Most homeowners or renters insurance policies restrict coverage for items like jewelry to $1,000 dollars.  In addition, most policies cover named perils for fire and theft, etc.; however, they may exclude coverage for the ring that gets flushed down the toilet; that is unless the expensive item is scheduled. To cover such circumstances that the insurance industry has dubbed “mysterious disappearance”, you will need a valuable articles personal property endorsement on your homeowners or renters policy.

  • These policies give replacement cost on contents (replacing your belongings with new, no deductions for depreciation)
  • Also half of our companies give the 50% cap as you are showing but the other half offer guaranteed r/c with no cap at all….let them know not ever policy is created equal, let our knowledgeable agents explain this important coverage with you.

Our homeowners and renters insurance can provide many benefits including:

  • Additional Living Expense -This coverage pays for the extra, above normal costs of expenses such as food and lodging incurred while the policyholder’s home is being repaired.
  • Extended Replacement Cost – Provides additional coverage up to 150% of the dwelling’s policy limits to rebuild your home in the event you suffer a covered loss.
  • Personal Liability Protection- Pays for bodily injury or property damage caused to others as a result of a covered incident.
  • Identity Theft Protection – Pays for expenses you incur as a result of criminal identity theft.

L.A. Bowen Insurance Agency has been an Independent Utah Insurance Agency since 1961. We have made a commitment to the people of Utah County to be here for many more years to come, providing the best quality insurance products available. We have many companies to offer our clients.  We will utilize ALL our markets to give you the best possible combination of coverage, price and services; that is why we are called The Insurance Mall. We know you have choices, so we thank you for choosing L.A. Bowen Insurance Agency.

Posted 9:42 AM  View Comments

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