Coverage of Valuable Articles

Scheduling Items

All homeowner policies have special limits for certain categories of personal property.  A few of these are (but not limited to); jewelry, furs, watches, and silverware.  Antiques and Fine Arts should also be addressed.  Should any of these items be lost or stolen without having been insured separately, your coverage could be limited or you may possibly have no coverage depending on your situation.  A deductible applies to items that are not insured separately,

Example: Your homeowner policy might provide $250,000 of contents coverage.  Let's say you have not scheduled anything separately and you experience a theft loss that includes stereos, tv's, personal computers and jewelry.  Your loss totals $25,000 of which $10,000 was jewelry.  Assume your homeowner limit on unscheduled jewelry is $5,000 (many companies have different limits).  Your settlement for the jewelry portion will be limited to the $5,000 due to the company limt.  Please be sure that you have addressed this area, there are a few ways to insure items separately to be properly protected.

Home Inventory

The question often comes up; do we need receipts on everything we own? The answer is no, but keep in mind that you need to present the loss to the company and any available documentation makes it that much easier in settling your loss. Recreating all of your contents from memory is nearly impossible.  An inventory of your household possessions would aid in this process.  Short of listing each item, a video inventory of your entire home would be most beneficial, especially in the event of a major loss.  Be sure to keep any of these important documents in your safety deposit, a fire proof safe or at another location.  We can help suggest an outside source to facilitate this video for you.