In 2023, more than half of American consumers are expected to spend an average of $192.80 for Valentine's Day – an increase from the $175.41 average spent in 2022. (Credit: Shutterstock.com)
"Engagement season" traditionally begins Thanksgiving Day and ends on Valentine's Day, with around 40% of all proposals happening in this period each year. Second to Christmas Day, Valentine's Day remains one of the most popular days to pop the questions, but with the average engagement ring costing thousands of dollars it's important to quickly acquire appropriate insurance coverage for your expensive new token if you happen to be on the receiving end of a proposal.
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Brittney Meredith-Miller
Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].
