Take a look through your home and start thinking, “How would I replace this in case it was lost or damaged?” While renter’s and home insurance will cover many costs, there are some things that may not be covered entirely. Valuable items coverage is additional coverage you can purchase to insure items outside of the normal scope of your homeowner’s insurance. You can add this as a part of your homeowner’s or renter’s policy or make it a stand-alone personal articles floater policy to specifically schedule these items. Our staff will be more than happy to help you navigate this decision.
With Valentine’s Day coming up (and all the shiny new things we hope it brings for you), we figured it would be the perfect time to remind you of a few other things that can be covered by valuable items coverage.
- Jewelry – This one goes without saying, but any nice jewelry should be insured. The insurance will offer broad coverage including theft and lost items, which is especially important for smaller items (like rings).
- Collectibles – Do you have a fine art collection? What about that special baseball card collection? Items that will appreciate in value and are one of a kind should have coverage of their own. An appraiser can help determine what your collection is worth, helping your agent assess your coverage needs.
- Electronics – You should already have a home inventory (if you don’t read our guide to creating one here), but think about each computer, television, tablet, and other electronic devices in your home. If the total value of all of those items is more than what your coverage already includes for replacements, you need to add more coverage.
- Sports and hunting equipment – If you are a hunter, avid angler or cyclist, you know how much money you put into the sport. You also know how upset you would be if you could not pay to replace the gear, if the worst should happen. A valuable items policy would alleviate this.
- Expensive hobby items – Do you do photography? Play an instrument? Have a crafting or art studio? Think about getting coverage for these things, which will make it easier to get back up and working after a disaster.
We hope you have a lovely Valentine’s Day with all of the people you love, and look forward to your call on February 15 to get coverage for all of your new things!