For many of us, our home is the most significant asset we’ll acquire in our lifetime, and we rely on our homeowners insurance to protect its value. A homeowners policy also provides coverage for your personal property including jewelry, silverware, firearms, and other collectibles or uniquely valuable possessions. These policies usually include a dollar limitation on the amount the policy will pay for specific categories of valuables like jewelry. Coverage for these types of property is severely restricted because they are valuable, easily damaged, and prone to be stolen.
To override these limitations, we encourage you to schedule these types of items on your policy. Scheduling is easy and involves listing the type, description, and value of these items. Scheduling can also provide broadened coverage. For example, when you schedule jewelry, you are insured if a stone falls out of a setting, if an item is lost, or even for mysterious disappearance. You must keep updated values on scheduled items to ensure the proper coverage is in place. We recommend reviewing your policy with us periodically and we’re always available to answer any questions you may have.