If you have homeowners insurance, you can use it to insure valuables. Here’s a quick look at what scheduling can do for you.
You already know that your homeowners insurance includes coverage for your personal property. You shouldn’t assume that it covers all of your stuff equally, though. Like all insurance policies, your home’s coverage comes with policy limits. You should know that your existing coverage might not be enough to insure valuables.
Don’t panic! Your current home insurance policy might not have a high enough personal property coverage limit, but that doesn’t mean that you have to be left exposed. You can schedule individual items into your policy to make sure they’re insured.
Let’s look at a specific example. Say your home insurance has a $1,500 sub-limit on how much it will pay out for jewelry after a robbery, but your wedding ring is worth $3,000. You don’t have to run out and get a separate policy just for your ring! Instead, you can simply schedule your ring into your coverage.
Scheduled items are insured for their full value so you never have to worry that a policy limit will prevent coverage. They’re also protected against additional risks like accidental loss, and won’t require a deductible!
If you have valuables that you want to protect, talk to your agent about scheduling them in. Commonly scheduled items include jewelry, art, firearms, musical instruments, collections, furs, antiques, and expensive equipment. In short, if you own something of value, you might want to consider scheduling it.
Contact NorthStar Risk Management & Insurance Services, Inc. to learn more about how you can use your existing homeowners insurance policy to insure valuables. We can help you review your coverage and determine where your current limits might fall short. Don’t leave the items that mean the most to you exposed! Call our dedicated team of agents to fully insure your valuables today.