Your home is probably your most valuable possession. It is also one of the most vulnerable. Natural disasters or other unforeseen events and property mishaps can easily damage it. But it is not just the outside structure of your home that’s so valuable. The contents and your possessions inside it also require unique coverage.

You may think that a homeowner, tenant, or condominium insurance policy provides adequate coverage for all your valuables, but policies may provide limited or no coverage for certain item such as jewelry and other valuable possessions including generally expensive items that are damaged or stolen.

What is Valuable Items Insurance?

Valuable Items Insurance is a type of insurance policy that covers property your homeowner’s policy may only cover to a certain amount. This type of insurance is often used to provide additional coverage for jewelries, furs, fine arts and collectibles.

Is Valuable Items Insurance necessary?

In some cases, you might have a piece of costly jewelry. If this jewelry will be stolen or lost, you could be left with nothing at all. Those special, and particularly valuable items may need an extra level of protection. Whether it is valuable jewelry or your family’s heritage items and collectibles, you’ll want coverage that can help replace those items if something happens to them.

The best way to Insure your Valuables

  • Review your Policy or contact your insurance broker to discuss your coverage including the limits of how much you will be compensated when certain valuable items are damaged or stolen.
  • Have your valuable possessions professionally appraised. This will help you decide whether you need additional coverage and to ensure the additional coverage you purchase will be adequate to cover a loss.
  • Know exactly what you own and make a detailed Inventory of all your valuable items. Be sure to list all items of value including sales receipts, a visual record of each article, and any other documents establishing providence for antiques and other collectibles. This may help you if you ever need to file a claim.
  • Check your neighborhood’s crime rate. If you live in a community where the crime rate is high, you may have a greater need for additional coverage to protect your valuables. Police departments may track crime statistics and share information with the public. You can consider asking your police department about home burglary trends in your neighborhood. Also consider installing security alarm system, this will help you qualify for a homeowner’s insurance discount.
  • Find the most secure location of your home and store your valuable item properly. If the item is not used regularly or you are saving it to pass on to someone else, consider keeping it in a safe deposit box. This will provide additional protection and will lower your premium costs. If there are times where you need to use the item, your insurance company may provide additional coverage for that specified period of time at an additional premium, but you must make sure that you notify your insurer in advance.
  • Store your items in a safe and appropriate place for there are areas in the house that experience higher levels of temperature change, and are more susceptible to leaks and flooding.
  • Consider putting your jewelries in a false- bottom container for storage. These are empty containers made to appear like ordinary household items, like food cans. It is best not to store your precious jewelries in the bedroom or in a jewelry box as this is typically the first place a burglar will check after breaking into a home.

Protect your personal valuables. To learn more about insurance protection for your valuable items, you may need to discuss this matter with your agent.

Contact or email ONYX Insurance now!

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