What Household Items Should My Homeowner’s Insurance Policy Cover?

“Yes, I’d like all of my items covered under my policy! Thanks!” Wouldn’t we all? Before you make any moves, you need to think about what your definition of “valuable” is. This term refers to an expensive item, something rare or collectible. With past being prologue your insurance company may consider valuable items as some, or any, of the items listed here:

• Fine jewelry
• Watches
• Stamp collections
• Firearms
• Sporting equipment
• Musical instruments
• Cameras
• Electronics
• Medical devices

“How do I insure my items?” Start by checking what your insurance policy already covers! In both homeowner’s and renter’s insurance you’ll have coverage for your personal property items. What you need to review is your coverage limits. Are you getting enough protection? Do you need to have your items appraised? Having your items and valuables appraised every few years will ensure you are making the most of your insurance policy and its protections.

You should also make a home inventory, which will list all items, prices and current valuations. If you’re purchasing a valuable item and are offered a protection plan it may be in your interest to also purchase that. This plan would protect you in additional ways that your homeowner’s insurance might not.

Is jewelry covered? Yes, jewelry is covered under most homeowner’s policies. Every policy is different and offers distinct coverages, so checking what limitation there is on this coverage will help you best understand your insurer’s stance on the coverage of your valuables.

If you’re in the market to file a claim due to any perils covered in your policy, but don’t understand the process or want to ensure that you’re being given your due under the limitations of your policy, give Gables Insurance Recovery a call and we’ll be more than happy to help you understand the limitations of your policy and make the most of an unfortunate circumstance when filing your claim. All of these items should also be included as personal property in a pre-loss inspection.