Scheduled personal property coverage can include jewelry and fine arts, but did you know it also can cover china, artifacts, wine or guns?
Typical homeowners’ policies are designed primarily to protect your home, personal liability and the general contents of your house. Coverage limits for valuable possessions such as jewelry and works of art range from $1,000 to $5,000. If you rely solely on your homeowners’ policy, you may have out-of-pocket expenses if valuables are lost, stolen or damaged. By adding scheduled personal property coverage, you can protect your cherished collections, family heirlooms, hobby equipment, and personal treasures.
The larger and more significant your collections become, the greater your need for the right insurance solutions. If you choose to add an extra layer of protection, you can be confident that the artifacts of your life journey will be protected. In addition, by using additional coverage for high-value items, you remove those items from the personal property section of your homeowners policy, thereby increasing the coverage for general personal property.
Scheduled personal property coverage can also provide global coverage, for special items you travel with (such as golf clubs for business or pleasure trips) or pieces you purchase while traveling (such as art, tapestries or antiques).
Fragile collections (such as crystal, china and porcelain) may be excluded from your homeowners’>policy, but with additional coverage, they may be protected when they’re broken, as well as possessions that are lost, stolen or misplaced. Jewelry stored in a bank vault may benefit from a reduced insurance premium.
By using agreed value coverage, you can receive cash settlement totaling 100 percent of the itemized value, with no deduction for depreciation. You can also talk to your insurance agent about no-deductible coverage for these items.
Eligible property includes:
- Musical instruments
- Golf equipment
- Fine arts
- Stamp collections
- Coin collections
- China, pottery, ceramics or crystal
A sentimental loss is hard to replace. Trust The Uhl Agency to protect the special things you’ve acquired and grown to love over the years. If you want to make sure your prized personal possessions are protected, contact us to discuss scheduled personal property coverage.