If you own jewelry, fine arts, furs, antiques, collectibles, gold, silver, firearms or electronics that is valued at more than $1,000, your Homeowners policy may not adequately protect your risk...
These types of items are called special classes of personal property, and your Homeowners policy puts a sub-limit on how much coverage it provides for them, anywhere from $1,000 to $2,500. Though your total Personal Property Coverage may be $100,000 or more, the insurance company will only pay up to that sub-limit for these items.
Here's an example: Your Homeowners coverage for Personal Property is $150,000. During a burglary, $25,000 in jewelry is stolen from your home. Most Homeowners policies have a $1,000 sub-limit for loss of jewelry due to theft. If your deductible is $1,000... you guessed it. You collect nothing.
The best way to insure these special classes of personal property is on a Personal Articles policy. The advantages are:
These types of items are called special classes of personal property, and your Homeowners policy puts a sub-limit on how much coverage it provides for them, anywhere from $1,000 to $2,500. Though your total Personal Property Coverage may be $100,000 or more, the insurance company will only pay up to that sub-limit for these items.
Here's an example: Your Homeowners coverage for Personal Property is $150,000. During a burglary, $25,000 in jewelry is stolen from your home. Most Homeowners policies have a $1,000 sub-limit for loss of jewelry due to theft. If your deductible is $1,000... you guessed it. You collect nothing.
The best way to insure these special classes of personal property is on a Personal Articles policy. The advantages are:
- No sub-limits. You collect the full value of your items in case of a claim.
- No deductibles.
- All-risk coverage. This is important because a Homeowners policy will only cover your belongings for Homeowners policy perils (fire, theft, lightning, wind, etc). A stand-alone Personal Articles policy will cover your items anywhere in the world, no matter what happens to them. Lose your wedding ring? Drop your computer? Covered, at full value!
- Keep claims off your Homeowners claims history. Claims on a Personal Articles policy do not count as Homeowners claims.
We offer Personal Articles policies for all special classes of personal property, at very competitive premiums. Call 321-259-2228 for a quote today!
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