Avoid Heartache This Valentine's Day by Insuring Your Gifts

With consumers estimated to spend nearly 15 billion dollars on Valentine’s Day gifts this year, it is important that expensive items such as jewelry or electronics are properly insured, according to the South Carolina Insurance News Service.

Standard homeowners and renters insurance policies include coverage for personal items such as jewelry. However, many policies limit the dollar amount of coverage for theft or loss due of valuable personal possessions such as jewelry, furs, and precious stones from $1,000 to $2,000.

"To properly insure jewelry and other expensive items like fine art, musical instruments, and even golf equipment consider purchasing additional coverage through a floater or an endorsement. The cost is quite inexpensive in comparison to the cost of the jewelry," says Allison Dean Love, the South Carolina Insurance News Service executive director. In most cases, you would be covered for "mysterious disappearance" if the ring is lost for any number of reasons. If your ring falls off your finger or is lost, you would be financially protected. With floaters and endorsements, there are no deductibles and frequently you will get the option of having the insurance company replace the item for you, according to Love.

"Despite the recession, love prevails. There is no way to put a dollar value on sentiment," cautions Ms. Love. "It's important to know what you have, what it's worth and to obtain proper insurance coverage."

To make sure your jewelry is adequately protected, the South Carolina Insurance News Service suggests:

Contact your insurance professional immediately
Let your agent or company representative know that you are now in possession of an expensive piece of jewelry or other costly items. Find out how much coverage you have and if additional insurance is needed.

Have the item appraised
Heirlooms and items that were purchased several years ago will need to be appraised for their dollar value. Ask your insurer for recommendations regarding a reputable appraiser. It is important that expensive items are appraised properly. If you purchase a floater or endorsement, you will pay a premium based on this amount. In the event of a claim, you will be compensated for this dollar amount as well.

Keep a copy of the store receipt
You will need to forward a copy of the receipt to your insurer so that the company knows the current retail value of the item. Keep a copy for yourself and include it in your home inventory.

Store valuables in a secure location
Protect your jewelry by storing it in a secure location in your home. If you don’t plan to wear the item regularly or are holding it for a child, consider keeping it in a safe deposit box. You may save money on the cost of insuring it, as some companies offer "in vault" coverage. If you want to wear the jewelry for a special occasion, many insurers will offer the option of purchasing additional coverage for the time it is out of the bank. You would, of course, have to notify your insurer ahead of time.

Take a picture of the item or collection and add the item to your home inventory
Having an up-to-date home inventory of personal possessions helps you purchase the correct amount of insurance and makes the claims process easier if there is a loss. The South Carolina Insurance News Service provides free, downloadable software “Know Your Stuff” on its web page at www.scinsurance.net. You can add a digital photograph of your new gift and save receipts. Computerizing your inventory also makes updating it fast and easy.

Update the value of your jewelry and valuables
Expensive items fluctuate in value over time. Talk to your insurance professional about how to make sure the dollar amount of your floater or endorsement reflects these changes. Prices for floaters and endorsements will vary depending on the type of jewelry, the insurance company you chose, where you live and where the item will be kept.

For more information, link to www.scinsurance.net.

Some Socially Responsible Products for Valentines

Planet Dog offers award-winning, socially responsible products for dogs and their owners. They are proud to donate a portion of every purchase to the Planet Dog Foundation, their non-profit, to support canine service programs nationwide. Here is a link to their gift suggestions for Valentine's Day, but all of their tail-wagging products make great gifts.

Shaman Chocolates offers award-winning organic, fair-trade chocolate bars and donates 100% of the profits to the Huichol Indians who are said to be the last Indigenous Tribe in North American to maintain their pre-Columbian traditions.

Allison's Gourmet offers award-winning vegan delights including organic vegan fudge, truffles and caramels.

If you see any others, especially if they are made in the USA, post them here or email The News & Press.

Sign of Spring

On a trip to the Ovis Hill Farm on Weaver Street Saturday, I saw a lamb that was just a few day's old, born on Valentine's Day. What a gift for that proud mom.
Amazing.

This sign of spring, in spite of the groundhog's prediction that we'll have six more weeks of winter, reminds me of all the things in nature that we forget about as we whiz through life online, on cell phones, but not really "on." Perhaps on your next trip out the door, you will feel the sun on your skin or stop and smell the roses.

Malware ruining Valentine's Day?

From the FBI:

Internet Alert: St. Valentine’s Day E-Card Carries Storm Worm Virus

If you unexpectedly receive a Valentine’s Day e-card, be careful. It may not be from a secret admirer, but instead might contain the Storm Worm virus.

With the holiday approaching, be on the lookout for spam e-mails spreading the Storm Worm malicious software (malware). The e-mail directs the recipient to click on a link to retrieve the electronic greeting card (e-card). Once the user clicks on the link, malware is downloaded to the Internet-connected device and causes it to become infected and part of the Storm Worm botnet. A botnet is a network of compromised machines under the control of a single user. Botnets are typically set up to facilitate criminal activity such as spam e-mail, identity theft, denial of service attacks, and spreading malware to other machines on the Internet.

The Storm Worm virus has capitalized on various holidays in the last year by sending millions of e-mails advertising an e-card link within the text of the spam e-mail. Valentine's Day has been identified as the next target.

Be wary of any e-mail received from an unknown sender. Do not open any unsolicited e-mail and do not click on any links provided.

To receive the latest information about cyber scams please go to the FBI website and sign up for e-mail alerts by clicking on one of the red envelopes. If you have received a scam e-mail, please notify the IC3 by filing a complaint at www.ic3.gov . For more information on e-scams, please visit the FBI's New E-Scams and Warnings webpage.

Way to ruin an easy avenue to send your significant other a love note. Of course, how much care and thought does it take to click and type? Not much.

Perhaps a penned card is best afterall.