A client called us in distress because she had looked all over and could not find a valuable ring. At the time when she and her husband became a client of our agency, they decided not to itemize and insure their valuable items. Now that the ring was lost, she had no idea how she would ever replace it.
Unfortunately, without a valuable items policy, the only coverage she had was a small amount based on their homeowner’s policy, which meant she had less coverage and was responsible for paying the policy deductible. Fortunately, she eventually found the ring and there was no need to file a claim.
If you are like most people, there are certain items you can’t imagine ever losing or possessions you deeply cherish that would be impossible to replace due to their value or simply because they’re irreplaceable. While your homeowners insurance is designed to cover the loss or destruction of many of your belongings (as well as damage to your home’s structure), your policy might provide only partial coverage for your most cherished items.
The good news is that you can still protect your collectibles and valuable items (even if they’re not fully covered under your homeowners), with a scheduled personal property endorsement that is tailored to meet your specific needs.
If you are unsure whether you need this type of endorsement, the first step begins with you. Look around your home and make a list of your cherished possessions. Be sure to consider the following:
- Jewelry
- Antiques
- Art
- Guns
- Collections
- Musical instruments
- Silverware/China
- Autographed items
- Rare or one-of-a-kind items
Once you have taken an inventory, give us a quick call at 864-288-9513 or email us. We are always here to help you determine if your prized possessions need more coverage than your current policy provides.
**Keep in mind that it is wise to complete an inventory every year or two, as you may acquire new items over time that should be added to a scheduled personal property endorsement.
