Mackoul Risk Solutions Wishes You a Happy Valentine’s Day!
In celebration of the holiday, we dedicated our weekly blog to Valentine’s Day. Below is a brief history of Valentine’s Day, fun facts, and an overview of How to Insure Your Valentine’s Day Gift.
Valentine’s Day History
400’s – Pope Gelasius declared February14th a day for honoring Saint Valentine.
1300’s – Saint Valentine’s Day becomes associated with romance and love.
1600’s – The tradition of exchanging valentines begins in Europe.
1840’s – Mass production of valentines began in the U.S.
Valentine’s Day in the United States
62% of adults say they celebrate Valentine’s Day.
$448 million is spent on candy the week before Valentine’s Day.
36 million heart-shaped chocolate boxes are sold for Valentine’s Day.
23% of adults say they purchase flowers or plants on Valentine’s Day.
58 million pounds of chocolate are bought during Valentine’s Day week.
Men spend more on Valentine’s Day! Men spend an average of $150 and women spend an average of $74.
150 million Valentine’s Day cards and gift are sent each year.
$8.6 million is spent by Americans on sparkling wine for Valentine’s Day.
How to Insure Your Valentine’s Day Gift
If you receive a high-value gift this Valentine’s Day, make sure you insure it! Insuring your prized possessions provides you with the security of knowing that you will be compensated if they need to be replaced.
In order to insure a high-value gift, you may want to consider purchasing an extension on your homeowners’ or renters’ policy. A Personal Articles Floater is a separate endorsement (also known as a rider) that can be added to your homeowner’s policy for personal items that have a higher value than the limits imposed in your homeowner’s policy.
Steps to Take:
- Collect your receipts and any paperwork from the purchase.
- Have the value of your gift attested to by an expert appraiser.
- Take a photo of your gift to submit with your documents.
- Call us at (516) 431-9100 to walk you through the process.
What valuable items can be insured using a Personal Articles Floater?
- Furs and related clothing
- Fine Art – paintings, lithographs
- Certain musical instruments
- Fine silverware
- Golfer’s equipment
- Cameras and related equipment
- Postage stamps
- Rare and current coins
Contact us if you’re interested in learning more about insuring your high-value items:
Personal Lines Supervisor
Personal Lines Account Manager
Phone: (516) 431-9100