We had a client…for blog purposes, we will say that her name is Mary. Mary had just recently married her college sweetheart. They had quite a busy summer, because not only did they have a wedding and go on a honeymoon; they bought a house as well.
Fortunately for Mary and her spouse, they had an excellent realtor and loan officer that referred them to an agent that sold them homeowners insurance. However, Mary nor the agent ever discussed insuring her newly acquired wedding ring. Mary assumed that it was covered, plus she never takes it off, so she was not really concerned.
While on their honeymoon, Mary and her husband went snorkeling and kayaking. Mary glanced at her finger for a brief second, and noticed that her ring was no longer there. Mary was devastated, and needless to say, her trip was ruined from that point forward.
Mary told her hotel concierge, and he informed her that her homeowners should cover it, as the same thing happened to his wife and their policy covered the replacement under “Mysterious Disappearances.” Mary was so excited to call her insurance company…only to find out that they would cover $1000.
To some, that may be just fine…but not for Mary! Mary’s ring was not added or scheduled with an appraisal or receipt. Therefore, she received $1000 of a $10,000 ring.
So, what is it about Mary? The answer is simple…she is $9000 shy of a new wedding ring!
Moral of the story…Don’t be like Mary. Make sure you are getting enough!
We are here, if you need to do a coverage check! Call today so that we can discuss the the benefits of scheduling the significant bling in your life!