WAKE FOREST, N.C., (Feb. 11, 2011) – You’ve just paid a small fortune for the perfect engagement ring. You’ve made reservations for a romantic Valentine’s Day proposal at your special restaurant or favorite setting. And after all of this planning, you’re hoping that the special person in your life says: “Yes, I will marry you!”

Allstate agent Thomas Walters wishes you the best of luck with your proposal, and he is ready to prepare you to say “yes!” to one other very important question: Have you properly insured that beautiful diamond ring?

“Allstate is dedicated to helping customers protect what they have today and to better prepare for tomorrow,” Walters said. “An engagement ring can be the most valuable item a newly engaged couple owns and may require added insurance coverage to protect its full value.”

The Insurance Information Institute advises that standard homeowners and renters insurance policies include coverage for personal items such as jewelry. However, many policies limit the dollar amount for theft of valuable personal possessions such as jewelry, furs, and precious stones from $1,000 to $2,000 total.

To make sure your jewelry is adequately protected, the Insurance Information Institute suggests the following:

• Contact your insurance professional immediately

Let your agent or company representative know that you are now in possession of an expensive piece of jewelry. To properly insure jewelry and other expensive items, consider purchasing additional coverage through a floater or an endorsement,”

• Have the item appraised

Heirlooms and items that were purchased several years ago will need to be appraised for their current dollar value. Ask your insurer for recommendations regarding a reputable appraiser. It is important that expensive items are appraised accurately. 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.

• Update the value of your jewelry

Expensive items go up or go down in value. 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 on insuring your diamond ring, contact Walters Insurance Agency at (919) 554-0267, or via email at Twalters@allstate.com. Walters also owns and operates five Allstate agencies in Raleigh, Wake Forest and Wendell.

About the Allstate Corporation

The Allstate Corporation (NYSE: ALL) is the nation’s largest publicly held personal lines insurer. Widely known through the “You’re In Good Hands With Allstate®” slogan, Allstate is reinventing protection and retirement to help more than 17 million households insure what they have today and better prepare for tomorrow. Consumers access Allstate insurance products and services through Allstate agencies, independent agencies, and Allstate exclusive financial representatives in the U.S. and Canada, as well as via www.allstate.com and 1-800 Allstate®.

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