Whatever you may do this year, if you purchase an expensive item for that special person, make sure you get it insured. Most homeowners or renters insurance policies restrict coverage for items like jewelry to $1,000 dollars. In addition, most policies cover named perils for fire and theft, etc.; however, they may exclude coverage for the ring that gets flushed down the toilet; that is unless the expensive item is scheduled. To cover such circumstances that the insurance industry has dubbed “mysterious disappearance”, you will need a valuable articles personal property endorsement on your homeowners or renters policy.
Tips to keep valuables safe
- Have your jewelry appraised by a qualified jewelry appraiser for insurance replacement purposes
- Take pictures
- Keep items in safe place
- Take off while working outside
Our homeowners and renters insurance can provide many benefits including:
- Additional Living Expense -This coverage pays for the extra, above normal costs of expenses such as food and lodging incurred while the policyholder’s home is being repaired.
- Extended Replacement Cost - Provides additional coverage up to 150% of the dwelling’s policy limits to rebuild your home in the event you suffer a covered loss.
- Personal Liability Protection- Pays for bodily injury or property damage caused to others as a result of a covered incident.
- Identity Theft Protection - Pays for expenses you incur as a result of criminal identity theft.