My husband has been given me hints for a month now about the Valentine’s gift he purchased for me. I am completely clueless; the suspense is driving me crazy.
Have you bought a Valentine’s gift for your significant other yet? According to the National Retail Federation (http://www.nrf.com/modules.php?name=News&op=viewlive&sp_id=1517) Valentine’s Day spending is expected to reach $18.6 billion this year. The average person plans to spend $130.97 on candy, cards, and gifts. This number is only slightly up from $126.03 per person last year.
Here’s the break down of most popular traditional gifts:
· 51% will buy candy, totalling $1.6 billion
· 36.6% will buy flowers, totalling $1.9 billion
· 19.7% will buy jewelry, totalling $4.4 billion
· 15.6% will buy clothing, totalling $1.6 billion
· 15.0% will buy gift cards, totalling $1.5 billion
But what about less tradional categories of gift giving?
· 13.2% will buy gifts for their coworkers, averaging $5.12 per person
· 20.0% will buy gifts for their pets, totalling $815 million
26.3% of people plan to purchase their gift online. This number is up 19.3% from last year and is the highest in the survey’s 10-year history.
Have you joined with the other 19.7% of Americans who have planned to purchase jewelry for their loved one? I guarantee you, if you buy an expensive enough piece, the jewelry store will attempt to sell you jewelry insurance. But did you know that your homeowners’ policy has a jewelry endorsement on it? A standard ISO (Insurance Services Offices) only provides $1,500 of coverage for jewelry, watches, furs, and precious and semi-precious stones.
Are you confident that all your jewelry is covered under your policy? What if you lost all of your jewelry in a catastrophe – how much would it cost to replace it all? Have you purchased a new piece of jewelry that will need additional coverage?
We’d love you to help you navigate these questions. Call our personal lines department at 731-668-8444 for more information!