Allstate - You're in good hands

02/28/2005 NORTHBROOK, Ill. -

As stars crossed the Red Carpet on Sunday, they were adorned with some of the most expensive and exquisite jewels in the world. One leading actress donned $273,000 worth of jewels and another flashed diamonds worth $463,000.

Although most of us will never walk the Red Carpet in such expensive jewelry, we still have our own prized possessions - and according to Allstate Insurance Company many Americans are not properly insured when it comes to those assets. The nation's second largest home and auto insurer says items like jewelry, furs and watches often require additional coverage to be added on your standard insurance, a fact many Americans ignore or find out too late, after their valuables have been lost or stolen.

"According to the FBI, each year more than $1 billion worth of jewelry disappears, but there are affordable options to help protect your valuables," said Jeff Moree, Director of Specialty Products for Allstate Insurance Company. "The FBI says jewelry accounts for more than 70 percent of all stolen property and the majority of Americans are not adequately insured."

Pricey Protection…

For the stars, the price tag to insure their "bling-bling" can be steep. According to Allstate, the $273,000 worth of sparkles seen Sunday on one celebrity could cost as much as $14,851 each year to insure. The $463,000 in rocks sported by another star could also demand prime premium - with an estimated annual insurance cost of $25,187. For the rest of us, the price for protection is much more affordable.

Are You Covered…

Most homeowners, renters, or condo insurance policies limit coverage for personal items such as jewelry or furs to between $500 and $2,500, depending on the policy. If you have jewels, even common items like engagement and wedding rings that exceed that amount, Allstate says you may need additional coverage to help ensure you're protected.

More Affordable For Most…

What could it cost to insure valuables from the super-sleek to the everyday? The following chart gives estimates of what it could cost to insure your jewelry around the country.

Four Easy Steps To Help Cover Your Jewelry…

• Understand your insurance policy -- review existing coverage to determine what protection you have.
• Keep and maintain an inventory of your jewelry and individual valuables - this should be part of a broader home inventory to help you better understand everything you own.
• Have an accurate estimate of the value of your jewelry - this may mean getting valuables appraised by a professional.
• To discuss insurance options, talk to your insurance agent to see what additional coverages are available.

"Allstate is dedicated to helping customers protect what they have today and better prepare for tomorrow," said Moree. "We understand that jewelry often carries significance that no insurance can replace, but our goal is to give our customers peace of mind that they are financially protected."

The Allstate Corporation (NYSE: ALL) is the nation's largest publicly held personal lines insurer. Widely known through the "You're In Good Hands With Allstate^®" slogan, Allstate helps individuals in more than 16 million households protect what they have today and better prepare for tomorrow through more than 13,600 exclusive agencies and financial specialists in the U.S. and Canada. Customers can access Allstate products and services through Allstate agencies, or in select states at allstate.com and 1-800 Allstate^®. Encompass^SM and Deerbrook^® Insurance brand property and casualty products are sold exclusively through independent agents. Allstate Financial Group provides life insurance, annuity, retirement, banking and investment products through distribution channels that include Allstate agencies, independent agencies, financial institutions and broker-dealers.

FOR MORE INFORMATION:
Bill Mellander, Allstate Media Relations, (847) 402-5600