Valuable articles insurance is crucial, even if you have a good homeowner’s policy. This additional coverage provides true peace of mind and better protection in the event of a disaster.
For many people, jewelry is an important investment in the future and has strong sentimental value. A robust jewelry insurance policy ensures you can wear your favorite pieces with comfort and still keep your valuables safe.
What Is Covered by Valuable Articles Insurance?
This type of coverage is not just for jewelry but also covers many valuables in your home, including:
- China and crystal
- Wedding bands and engagement rings
- Fine art
- Collections of stamps, coins, and other collectibles
- Awards and trophies
- Sports equipment
- Camera equipment
- Electronics equipment, including sound equipment, recording equipment, & computers
- Fur coats and accessories
- Designer clothing and accessories
Do You Need Jewelry and Valuables Coverage?
You may feel comfortable with your home insurance policy and think it covers everything in your home, but this is not always the case for valuable items. Your valuables and jewelry may be worth more than you think, and the cost may not be fully covered by your home policy. Most homeowner’s policies only cover your personal property or contents coverage for specific types of claims, like fire, lightning, and vandalism. If you schedule your valuable items on your policy, or on a separate valuable articles policy, they would be covered for anything that may happen to the item. Such as loss of a diamond falling out of a setting on your ring, or dropping your camera into a lake.
A homeowner’s policy is intended to cover repairs or the replacement of your home, and provide coverage for your personal property. However, insurance companies understand your valuables may be worth more than the rest of the items you own, and usually provide an option to add them to a specific schedule on the policy as an endorsement, or offer a separate policy in conjunction with your homeowner’s policy to cover your valuables. With this type of specialized insurance, an experienced agent can help create a policy that ensures you are covered in the event of theft or other disasters.
Keep in mind, too, that your valuables will change in value over time. As your art, collectibles, antiques and jewelry get older, they may become more or less valuable, especially if market conditions change. Does your current home policy account for change in value? If you have the items currently on a scheduled valuable articles policy, or as an endorsement on your homeowner’s policy, you may need to periodically review the limits and items you have listed to keep it up to date.
The Upside of Valuable Articles Insurance
Do you have any valuables that may not be fully covered by your homeowners or tenant’s insurance policy? Gunn-Mowery, LLC can help you find the right insurance fit. We help you get competitive quotes and the right insurance by comparing the offerings of multiple companies. That’s the Upside of Insurance. With us, you get the full picture, so you find the best quote as well as personalized assistance to access the right coverage.
Contact us to request a quote today.