You may think that all of your belongings are covered if you have homeowners insurance, and yes, homeowners insurance does cover theft inside and outside of your home. Nevertheless, you must think about the thefts involving cash and valuable items, as many policies have a limit to how much stolen cash it will cover and highly valuable items may not be covered at all. Here’s how to decide if you need valuable items coverage:
Your Insurance Policy
Your insurance policy will include the limits of how much you will be compensated if certain valuable items are damaged or stolen. Certain items may not be covered in your homeowner’s insurance policy, so you should review your policy and make sure that it meets your needs. At HH Insurance, our Valuable Items coverage takes care of artwork, baseball cards, books, coins, jewelry memorabilia, musical instruments, and more.
Have Valuables Appraised
Those old earrings your grandmother gave you may be worth more than you think. Have your possessions appraised to help you decide whether or not you need additional coverage? An appraisal can help you find out if your homeowner’s insurance policy covers the full value of your property. You may need to have your valuables reappraised periodically and if they increase in value, you might need additional coverage.
Create an Inventory
If you aren’t sure exactly what you own, you might not know if you need additional coverage. Take stock by creating an inventory, such as taking photos on your phone and uploading it to a cloud-based service. Don’t forget to check your attic or basement for stored valuables. Make sure you list all items of value and include copies of receipts or appraisals as it may help if you need to file a claim.
Crime Rate
If your neighborhood has a high crime rate, valuable items coverage may be desirable. Consider installing a security alarm system to further protect your home.
HH Insurance
At HH Insurance, we offer more than insurance for jewelry, we offer peace of mind. With us, you know that your personal items are safely protected. From engagement ring insurance, coin coverage, silverware policies, and more, we look forward to helping you get proper coverage in SW Florida. HH Insurance works with exclusive insurance markets that deliver you better coverage at the lowest rates. Contact us!
**This blog provides a brief overview of the terms and phrases used within the insurance industry. These definitions are not applicable in all states or for all insurance and financial products. This is not an insurance contract. Other terms, conditions and exclusions apply. Please read your official policy for full details about coverage. These definitions do not alter or modify the terms of any insurance contract.