Valuables Items Coverage

Protecting Your Valuable Possessions

An additional policy or endorsement to your insurance portfolio may be a great idea to protect your most valuable possessions. These additional policies or endorsements are designed to protect your high-value items, including jewelry, silverware, fine arts, furs, and other valuables. Although your homeowners policy may cover these items, it limits coverage to a specified amount. An additional policy or endorsement allows you to protect valuable items at higher limits, and gives additional protection for losses that may not be covered under your homeowners policy.

A Typical Example

A couple decides to take a special anniversary vacation and while traveling, the spouse's engagement ring and wedding band are lost on the beach. They turn a claim into the insurance company as soon as they are home. 

Because the couple had valuable items coverage and the wedding set was insured for it's agreed, replacement value of $10,000, they receive a check from their insurance company for that exact amount. 

They do not need to get an additional appraisal after the loss and there is no back and forth discussion with an adjuster since the jewelry items were already insured for an agreed value amount.

While the couple is sad to lose the original wedding set, they are able to quickly find a replacement with the check sent to them by their insurance company.

Why Consider Valuable Coverage?

Protection from coverage gaps

Most homeowner's policies have a coverage limit on items such as jewelry if they are stolen from your residence. That coverage limit may be as low as $2,500. Additionally, simply losing a wedding ring while on vacation for example would not typically be covered since only theft would be a covered loss. Adding a valuable items endorsement or additional policy provides protection for simply losing an item such as a wedding ring and also allows you to increase your coverage limits to whatever the value of the item may be.

There is No Deductible

Scheduled valuable articles can be added to another policy or your homeowner's policy with no deductible if they are are lost or stolen.

Savings from a Multi-Policy Discount

Most of the insurance companies we represent offer a discount on your other insurance policies for having a specific policy in place to cover your valuable possessions. The discount can often help pay for a good portion of the policy cost itself.

How can I learn more?

Call or text Flury-Hinderks Insurance Agency and we would be happy to help make some recommendations on how you can insure your most valuable assets.