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Will the personal property coverage on my homeowners insurance cover my engagement ring?

My fiance recently proposed and my engagement ring is quite nice. He purchased it for $12,000. I share a homeowners policy with my fiance and our personal property limit is $30,000. If the ring is under $30,000, I should be covered, right? Or do I have to increase my limits?

Agent Answer

Neil Richardson

Most homeowners insurance policies cap their jewelry well below the value of your engagement ring. In this case, it’s not about raising the value of your personal property but rather getting specific coverage for your ring. Most insurance companies offer endorsements for items like jewelry, fine arts, or specialty equipment. A jewelry endorsement (also called a jewelry floater) raises the limit on an item to ensure you are properly covered for your more expensive items. Speak with your insurance company for specific policy details.

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