With the Valentine’s Day holiday, often comes valuable gifts made of diamonds, silver, and gold. On average, people will spend around $4.4 billion on jewelry for Valentine’s Day, leaving you the need to ensure your purchase is protected.

From diamond earrings to gold bracelets and engagement rings, you must take the right steps to safeguard these precious gifts by doing the following:

Insure your purchase. Most homeowner’s and renter’s insurance policies will cover jewelry in the event of theft or damages. However, be sure to check your specific policy for limitations. In some cases, it may be necessary to purchase a floater or an endorsement addition to your policy in order to ensure the appropriate coverage.

Get an appraisal. From family heirlooms, to art collections, anything that has a value should be appraised. By establishing its current value, you will know the amount of insurance needed, as well as how much you should be reimbursed in the event that you have to file a claim.

Keep your inventory updated. It is important to add any gifted items to your inventory list of personal possessions and your home’s contents, which will be of great help in the event that you need to file a claim. It is also a good idea to take a picture of your valuables as this can help with the claims process, as well as provide helpful detail to your inventory list.

Keep it stored in a safe place. Be sure to keep your valuables stored in a home safe or another secure location, including a bank safe-deposit box, especially if you will not be wearing it regularly.

Be sure to consult with Brazelton Insurance Group in order to help ensure you are getting the right coverage for your valuables.