14th of February is almost here, and most of you know what that means?. It’s time to plan and spend for your loved ones. Valentine’s day is a day for couples to express affection with greetings and gifts. As adults, we have to pay money for costly caring gifts- paper cards with hearts don’t work anymore, sadly. At the end of the day, most of us don’t mind the cost of making a loved one smile and will pay anything for the best gifts.
One of the most challenging parts of buying a gift is- thinking of what to buy. Great valentine gifts can range from watches to designer purses and jewellery. When gifted by a loved one, we want to do our best to keep it safe and protected over a long period of time. No one wants to lose or damage that expensive diamond set or a fancy watch- but life is unpredictable. There are various possibilities of the gift getting damaged, lost or stolen over time. However, one should not worry about such situations and be able to wear and even show off their beautiful gifts.
Such risks are common and could happen at any moment to any belonging known as assets. Moreover, it’s an awful feeling to damage or lose something you know can’t replace. For these exact reasons, it is crucial to purchase asset insurance along with the gift. It is an insurance created to protect valuable belongings so that you can enjoy them stress-free. This article will persuade you how vital the insurance is and the perfect valentine gift add on.
What Is Asset Insurance?
Assets in the insurance industry are valuable physical belongings that are important to the owner and some that have future value.
Insurers create asset Insurance to protect your assets from damage, loss or theft. Insuring your assets is crucial in ensuring that your valuables are always protected. In addition, asset insurance will provide financial cover to allow the policyholder to repair or replace the valuable asset/gift.
Assets can include watches, jewellery, art, wine collection, or other valuable belongings. Furthermore, high-quality asset insurance will cover the asset and help repair or replace it worldwide.
What Cover Will Asset Insurance Provide To Gifts?
Imagine this, your partner has just gifted you a beautiful watch, and you are so excited to wear it. However, on the day you wear it, you see your bus leaving, and you run to catch your bus – at this moment, your watch slips out of your wrist and smashes on the floor. There are more than 100 unfortunate daily scenarios like this that could result in damaging your new watch, jewellery or any asset. Repairing an asset can be costly and, in some cases, almost more expensive than buying a new asset. It is followed by stress, disappointment and sadness, especially when it is a meaningful gift.
These situations can easily be solved and reduce the emotional impact by purchasing asset insurance. Asset insurance gives peace of mind to the policyholder when they go through such unfortunate situations. The insurance will provide financial cover to repair the asset and connect the policyholder with expert repair companies. For example, if a diamond necklace chain has been damaged, the insurance will connect you with experts to fix and improve the asset. Additionally, if experts cannot repair the asset, the insurance will provide the cost of replacement. The insurance provides the feeling of calmness during these unfortunate situations.
A damaged asset is slightly better than losing something. Losing a gift is one of the worst feelings as you spend days trying to understand where you might have lost it, was it stolen, can you retrace your steps and find it again. Most people will not replace a lost gift due to guilt if it happens again (depending on the asset). It is a hopeless feeling and awful when you tell your partner you lost their gift, that they have spent a lot on it. Therefore, you are not just losing the gift; you are also losing the sense of being responsible.
Overall, it is clear that losing expensive gifts can have a devastating effect on your emotional wellbeing and financially too. The good news is that asset insurance can solve this problem. As policyholders will not need to panic and the financial and emotional impact is reduced. Asset insurance will provide the policy owner with the funds to replace the asset. However, the policyholder may need to prove the item is lost with police reports (to avoid fraud). The insurance helps the policyholders feel protected when things go wrong, and gifts are lost.
Most people’s first reaction to being robbed is surprise and shock. Many people assume that they will never be robbed if they are safe. However, theft could occur anywhere, from on the streets, parties, or even your own home. When people discuss robberies, they think about financial and material losses, but the emotional damage and fear are often worse. Being robbed is why many fear using expensive gifts outdoors and hesitate before putting on that beautiful necklace or stylish watch. There is a significant financial and emotional loss even when things are stolen and not your fault.
It’s devastating to be a victim of a crime, especially when stolen material is a valuable gift. Asset insurance understands theft can happen anytime and anyplace and will cover stolen assets. The insurance will reimburse the asset’s value after the policyholder provides a police report. The insurance will also cover stolen parts of the asset; for example, if the thief has robbed just the one earring of an earring pair, the insurance company will take back the single earring left, and reimburse the cost of a new set. The insurance gives the owner the freedom to enjoy their assets in public. Furthermore, the insurance helps the asset owner with financial loss and emotional damage.
Should I Buy Asset Insurance With My Gifts?
Asset insurance is the perfect add on to a valentines gift. You don’t want your loved one to stress or worry about unpredictable risks when you gift them something expensive. Gifts are given by couples to enjoy- this is why you can inform your partner that the gift is insured this valentine.
Asset insurance helps reduce financial loss, anxiety and fear when things go wrong regarding your new asset. Owners know their assets are protected, and if faced with one of the unforeseen tragic events, the insurance will help them as much as possible. This allows your loved one to wear their gift without worry or stress. Things can go wrong at any time and anywhere. Asset insurance will cover the asset and help repair or replace after unfortunate situations worldwide. Therefore, the gifted and the receiver will not need to spend their own money repairing or replacing a valuable gift.
Additionally, the insurance company will link you with experts who can inspect certain assets annually to ensure they are in decent condition. Asset insurance is not just an insurance; it is a way to allow someone to enjoy their asset carefree and take care of things if the asset is damaged, lost or stolen.