Even the most premier insurance company will limit the amount of coverage you have for certain types of personal property and or losses. Since the homeowners policy may contain limitations in certain types of loss scenarios – you may want to consider specifically insuring your valuables such as jewelry, watches, antiques, fine arts, furs, silver, firearms, musical instruments, collectibles and wine.
You may find that you do not have enough coverage on your policy to replace your most valued possessions. The reasons why individuals specifically schedule or blanket personal property is to:
- Avoid the policy limitations
- Obtain agreed value coverage (the amount listed on the policy for that specific item)
- Avoid the application of the policy deductible
- Obtain additional coverage that would not be covered by the contract. For example, breakage is generally excluded on a homeowners policy
The advisors at Arthur Hall Insurance will review the specific homeowner’s insurance policy limitations, help you evaluate your needs, and determine if you should specifically insure your personal property. We will also provide and create different coverage solutions on how best to insure your property. If you are an avid collector or just need to insure a few items, let us help construct the insurance program that will fit your unique needs.
Please contact us to learn more about insuring your valuables.