Nothing Is As Romantic As Insurance | Financial Protection

financial protection

Nothing Is As Romantic As Insurance | Financial Protection

There is nothing more romantic than proposing on Valentine’s Day. After you present your partner with a gorgeous and valuable ring (and hopefully after they say yes), your next step should be a call to your insurance agent. Although there is no way to insure the sentimental value of such a meaningful gift, having the right amount of insurance will provide financial protection. After all, you have a spectacular wedding coming up, and finances will no doubt be a part of the wedding planning!

Jewelry losses are among the most frequent of all homeowners personal item-related insurance claims. Forward a copy of the ring’s receipt to your insurance agent so that your company has a record of the current retail value and keep a copy for your records. It’s also a good idea to get a copy of the appraised value of the item. An appraisal is particularly crucial if the ring is an heirloom or antique.

This is where you will need to find out if you need additional insurance. Most standard homeowners and renters insurance policies include coverage for personal items such as jewelry; however, many policies limit the dollar amount on jewelry to $1,000 to $2,000. With the average engagement ring costing nearly $6,000, according to The Knot, that is unlikely to be enough coverage. An up-to-date home inventory of your personal possessions can help you purchase the correct amount of insurance and speed up the claims process if you have a loss, so remember to add your new ring to your inventory. And if you don’t yet have a home inventory, celebrate your engagement and new life together by creating one with your fiance.

AWS is here through every significant milestone in life. Contact us to today and learn how we can create a custom tailored plan just for you!

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Melinda Martin

Account Executive

Melinda began her insurance career in 1985 with Alexander & Alexander where she received her Property & Casualty and Life & Health license. Since then she has worked at various agencies in the New Orleans area and in California as a senior account manager for Employee Benefit Plans.  While in California, she was also the Membership Director for the Burbank Chamber of Commerce. Melinda joined the AWS team in July of 2015.

Michael A. Seeling

Vice President

Graduated from the University of Louisiana at Lafayette with a B.A. in Insurance Risk Management and is a graduate of Archbishop Rummel High School in New Orleans. He joined AWS in October of 2008 and has been awarded the Patient Protection and Affordable Care Act Certification (PPACA). Additionally, he is working towards his Certified Insurance Counselor (CIC), Registered Health Underwriter (RHU), and Registered Employee Benefits Consultant (REBC) designations. He is also a member of the National Association of Health Underwriters (NAHU), National Association of Insurance Financial Advisors (NAIFA), and is an active member of the Fore!Kids foundation.