Homeowners insurance is a good thing to keep updating as your life changes throughout the years. Insurance agencies like Curtis Miller Insurance serving Parkersburg, WV is a perfect colleague to contact to review and update your coverage. One of the many things you should ask your insurance agency is, "Is my jewelry covered? The truth is it is, but just as other valuables in your home, there is a limit to the amount the insurance will cover. Standard homeowner policies include some coverage for jewelry and other valuables, but in some cases it is much less than the items actual value.
To protect yourself and your valuables there are two ways you can increase your insurance coverage:
1. Add a Floater Policy: Itemize or schedule each piece of jewelry you own on a Floater Policy. You may have to have the items appraised by a professional in order to prove the item’s value. Having each piece itemized will probably raise your insurance premium, but will give you the peace of mind that if something happens to your valuables, you are protected. This includes losing the item, theft of the item and other unexpected incidents.
2. Raise the Liability Limit: Explain to your insurance agency that you have valuable items and you would like to raise your homeowners entire liability amount. Your premium will increase some, but not as much as scheduling each piece individually on a floater policy. One downside of raising the liability is that there still may be a limit of the coverage in individual items. For example if a ring is appraised at $5,000, the amount of coverage may only be $2,500.
For specifics and how to find an appraiser, contact Curtis Miller Insurance serving Parkersburg, WV.