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Adequate Coverage for All Your Valuables

By February 20, 2020 July 13th, 2020 No Comments

Does your homeowner’s insurance policy provide adequate coverage for all your valuables?

Homeowners policies generally have a $1,000 or $1,500 coverage amount for jewelry if the loss is due to theft. Such limits are in place to help keep homeowners’ policies affordable. However, if jewelry valued at $2,000 is stolen from your home and you have a $1,000 policy limit, you can only receive $1,000 from your insurer to replace the missing items. That is when an insurance endorsement (sometimes called a rider) can provide increased coverage for your possessions. For an additional premium, this coverage can help protect you from the loss of high-end valuables such as jewelry, furs, antiques, artwork, and collectibles.

 

Here are some tips that may help you decide whether you need an insurance rider:

  • Read your current insurance policy
  • Have your valuables appraised
  • Create a home inventory
  • Check your neighborhood’s crime rate
  • Take stock of your electronic equipment

 

If you still have questions, let us help you to make the right decision, contact us today.