While a box of chocolates in a shape of a large heart has long been the default gift to loved ones on Valentine's Day, nothing screams "I love you" louder than a diamond ring or luxury watch—or so advertisements would have us believe.
Based on a longstanding tradition, jewelry is a durable staple of February 14. In fact, the National Retail Federation estimates that 19 percent of consumers will spend as much as $3.9 billion in total on "something sparkly" this year.
Moreover, the Insurance Information Institute (I.I.I.) didn't miss a beat, recently alerting the public about the importance of safeguarding jewelry gifts around this time of year. In doing so, the I.I.I. cited how losses of rings, watches and other jewelry are "among the most frequent of all home contents-related claims."
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