It’s Valentine’s Day, and thoughts of people everywhere turn to … jewelry.
About one of four Americans buys jewelry, spending $2,000 per year on average, and industry experts expect jewelry sales to grow by at least 5% annually through 2025. Those who don’t buy shiny things for Valentine’s Day may prefer other types of valuables, such as electronics, artwork, antiques, wine and furs. All totaled, Valentine’s Day gifts will tally approximately $17 billion of retail sales in 2008.
Whatever the purchase, American consumers should take steps to safeguard and insure their valuables. Homeowners insurance generally covers valuable and precious items such as jewelry, but they usually have limits. more….