Protection

For those of you who do not know, I teach a public speaking class. One of the things the students have to do is keep a journal of things happening in their lives. One student included an entry about the diamond falling out of her promise ring, given to her by her boyfriend. Not surprisingly, she was upset. The ring was insured, so that certainly made things better, but it was still an upsetting experience for her.

I thought back to when I got my now wife an engagement ring. We made sure the ring was insured. Actually we did that by getting renters insurance, which we were told covered the ring, should anything happen to it. Of course, while having almost any type of Commercial Insurance, or insurance in general, is important, it still only covers the monetary value, not the emotional attachment.

I think about ball players who have jewelry, or other items they own, stolen. I realize this does not happen frequently, but you do see those stories. Obviously the players have the financial means to replace the object. What can never be replaced is the emotional attachment.

So, the best thing to do is, spend the money to insure the item and then do whatever you can that you will never have to use that insurance.