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Valentine's Day Jewelry Spending Tops $6 Billion - But Many Gifts May Be Underinsured
Valentine's Day is one of the most popular times of year for gifting fine jewelry and other high-value items, from engagement rings and watches to heirloom pieces meant to last a lifetime. According to the National Retail Federation, Americans are expected to spend more than $6 billion on jewelry for Valentine's Day alone, making it the holiday's highest-spend gift category year after year. As spending peaks during the holiday, Mercury Insurance (NYSE/NYSE Texas: MCY) is encouraging couples to t
About this update from Mercury General Corporation
[{"type":"text","content":"As jewelry spending surges, Mercury Insurance warns many high-value gifts may exceed standard coverage limits","length":109,"tagName":"p","attribs":{}},{"type":"text","content":"LOS ANGELES, Feb. 10, 2026 /PRNewswire/ -- Valentine's Day is one of the most popular times of year for gifting fine jewelry and other high-value items, from engagement rings and watches to heirloom pieces meant to last a lifetime. According to the National Retail Federation, Americans are expected to spend more than $6 billion on jewelry for Valentine's Day alone, making it the holiday's highest-spend gift category year after year. As spending peaks during the holiday, Mercury Insurance (NYSE/NYSE Texas: MCY) is encouraging couples to take a few proactive steps to help protect these meaningful investments before and after they're exchanged.","length":665,"tagName":"p"},{"type":"text","content":"While many shoppers focus on the emotional significance of a gift, its financial value is often overlooked — especially once the excitement of the moment passes. Without proper documentation or insurance consideration, valuable items may be under-protected or not covered as expected.","length":284,"tagName":"p"},{"type":"text","content":"Many standard homeowners and renters insurance policies include sub-limits for jewelry – often between $1500 and $2500, according to industry data – which may fall well short of the actual value of engagement rings, watches, or luxury gifts.","length":241,"tagName":"p"},{"type":"text","content":""High-value gifts tend to carry both deep sentimental meaning and significant financial value," said Larry Anderson, Director, Underwriting Operations at Mercury Insurance. "When a single piece of jewelry can easily exceed $5000 or more, it's important for consumers to understand how coverage limits work and whether additional protection is appropriate."","length":380,"tagName":"p"},{"type":"text","content":"Mercury's guidance for protecting jewelry and high-value gifts","length":66,"tagName":"p"},{"type":"text","content":"Keep purchase documentationSave receipts, appraisals and certificates of authenticity. These records help establish value and make future coverage reviews more accurate.","length":170,"tagName":"p"},{"type":"text","content":"Consider a professional appraisalFine jewelry and lu...