How to Ensure Your Home Insurance Covers Valuable Items Like Jewelry or Art

Protecting valuable items like jewelry or art within your home requires more than just a standard insurance policy. These treasured possessions often hold significant financial and sentimental value, making it essential to ensure they are adequately covered. By taking proactive measures, you can achieve peace of mind knowing that your most precious items are well-protected.

How to Protect Your Valuables With Insurance

Here are some critical steps to help you protect your prized possessions:

1. Understand your policy. Start by thoroughly reviewing your current home insurance policy. Standard policies often have limits on coverage for high-value items. For example, jewelry and art might only be covered up to a certain amount, which may not reflect their actual value.
2. Get an appraisal. To ensure your valuables are adequately covered, obtain professional appraisals. An appraisal provides a detailed description and an accurate market value of your items. Keep these documents updated and store them in a safe place.
3. Consider scheduled personal property coverage. Scheduled personal property coverage, also known as a rider or endorsement, is an add-on to your existing policy. It can offer additional coverage for specific high-value items. This type of coverage often includes protection against a broader range of risks, such as accidental loss or damage.
4. Document your items. Keep a record of your valuable items, including photographs, detailed descriptions, receipts and appraisal documents. This documentation is essential for substantiating ownership and value if you need to file a claim.
5. Review and update regularly. Regularly review and update your insurance coverage and appraisals. The value of jewelry and art can fluctuate over time, so it’s essential to ensure your coverage remains adequate. Notify your insurer of any new acquisitions or significant changes in value.
6. Secure your valuables. Take additional steps to protect your valuables. Use a safe and secure storage facility and consider installing a home security system. These methods can reduce the risk of theft and may even lower your insurance premiums.

Learn More

Contact Ranch and Coast Insurance Services today to review your insurance portfolio and ensure your most valuable items are protected financially.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.