Is it illegal to add insurance on your homeowners on a newly missing item you are looking for (not file a claim until officially lost)?
I thought I had insurance on my wedding rings and when they went missing a week ago, was informed by my hubby that he didn't renew it this year. I am not certain that they are lost and have no intention of filing a claim for at least 6 mos- 1 year because I WANT to find my rings. They are not covered in our regular home insurance because they are worth over $10,000. A reason, I think, that they may be missing is because of theft. I am very unsure at this point but don't want to do anything illegal. When I spoke to the representative, they said that they can put the insurance on and in case of a loss, I just need a receipt or an appraisal that they did indeed exist at one point in time...I do not need a current appraisal, so this leaves a window open. Can someone familiar with insurance law advise me please? I am scared to outright ask the question over the phone for some reason, which makes me think it must be wrong.