When you look down, so you see a beautiful, sparkling diamond on your finger? Perhaps there is an amazing piece of jewelry hanging around your neck? Maye you have heirloom earring that always catch everyone’s attention? How about one-of-a kind fur coat, silver serving utensils, or unique patterned china?
Maybe your most prized possessions differ from that list, but regardless of what they are, they need to be insured. I am sure you would be devastated to lose any of those items, but knowing you have at least some protection will provide you with HUGE piece of mind.
Don’t just consider getting valuable items insurance – actually get it!
Okay – you might be thinking to yourself that you already have homeowner’s insurance and/or renters insurance. That is great and you should have those policies, but often times even those policies have limits on coverage – especially if there is theft. A major dispute can erupt between you and the insurance company if your home gets damaged and the property inside, including the valuables, aren’t properly documented and inventoried. While you can’t replace one-of-a-kind items, there is still opportunity for you to receive some sort of financial payout for the valuables lost.
This type of insurance offers additional protection for your most valuable possessions – diamond rings, fin art, collections, and more. The coverage provides the protection you need if there is loss through theft, accident or natural disaster. There is usually some type of coverage for such items offered for personal property under the typical homeowner’s policy. However, that inclusion to the basic policy may not cover some types of loss that may be important to you. Most homeowner’s policies set dollar limits on the amount of protection offered. It is optional to you to get add-on coverage to the homeowners and exp anded protection for special property.
You can get Floater Insurance – A type of insurance that covers property that is easily movable and provides additional coverage over what normal insurance policies do not. This can cover anything from jewelry to expensive equipment. You can also look at getting Blanket Insurance which is a single policy on an insured property that covers more than one type of property at the same location, the same kind of property at more than one location, or two or more kinds or property at two or more locations.
If you still feel like your valuable items aren’t protected enough, then you need to seriously speak to your insurance agent (SUSMAN!) about getting a specific policy for those items.