The National Retail federation reported that Americans spent $15.7 billion dollars on Valentine’s Day gifts in 2010. Since Jewelry is one of the most popular gifts for sweethearts, now is the perfect time to think about valuable articles coverage.
According to the FBI, victims of burglary suffer more than $4 billion in lost property annually with an average dollar cost of about $2,000 per incident. The typical homeowners policy, however, has specific internal limits on jewelry, art and other items. If you have valuable pieces that exceed those limits, you could be in for an unhappy surprise if you become a victim of theft or an accidental loss. To help prevent coverage shortfalls, insurance companies offers valuable articles coverage to give you multiple options for protecting your most valuable items.
Itemized or scheduled coverage
- Additional classes of property – Additional classes of property are available on a scheduled basis, including jewelry such as wedding rings, stamp and coin collections, musical instruments and others.
- Agreed value and no deductible – With an agreed-upon value for each item of fine art and jewelry and no deductible, the claims experience is straightforward and simple.
Grouped or unscheduled coverage (blanket coverage or limit that covers everything)
Scheduling each item of personal property can be time consuming for you and costly. Grouped coverage is designed to provide you with an affordable and easy alternative. Available for fine arts, including collectables such as figurines and glass with breakage coverage, cameras, furs, jewelry and silverware, it offers blanket coverage for a wide range of perils.
Scheduling each item of personal property can be time consuming for you and costly. Grouped coverage is designed to provide you with an affordable and easy alternative. Available for fine arts, including collectables such as figurines and glass with breakage coverage, cameras, furs, jewelry and silverware, it offers blanket coverage for a wide range of perils.
- Easy coverage – Customers can simply increase or decrease the blanket coverage limit as the amount of total property changes without having to modify schedules.
- High limit and low deductible – High limits are available and low deductibles separate from the home policy.
Contact us today to make sure your jewelry or other high value items are covered correctly on your home owners policy.
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