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| *Loan,banking and credit>>>homeowner insurance |
How much jewelry is covered under a homeowners insurance policy? |
I would like to know precisely what is covered and to what amount it is covered under a homeowners insurance policy. This varies from policy to policy. Be sure to check with your insurance agent. Ours only covered $500 worth so we had to get a "rider" to cover my jewelry. Source(s): * Experience That depends on your policy. Most cover for a specific dollar amount less a deductible. So, whatever your policy amount covers dollar wise then that is how much jewelry you can replace. It depends on your policy. You can often specify the amounts, but standard coverage is also often limited and there is usually a deductible. If you have several pieces that are valuable the best thing to do is to get an additional policy known as a personal articles policy. You can insure specific items of a named value. Talk to an insurance agent and review your specific needs. As much as you claim under your policy. You select the type of coverage you want. If you want full replacement value (at todays cost to replace); you will be asked to give an itemized list of your assets; Replacement value less depreciation you'll be asked what the value of the items are (what you value them as) (you'll probably have to have proof if you go this route) personally, I chose full replacement value of items at todays costs. I included items such as precious stone jewelry, camera, computer, artwork cell phone, etc. Based on the total purchase price, I selected replacement for $100,000.00 (I live in a condo; my annual amount in DC metro area, was less than $300 a year.) Of course if you combine homeowners insurance with auto and perhaps life you get a much better rate. Word of caution, I'd check on line for any nasty strings out there about how responsive the insurance company was when you made a claim) Bigger companies aren't always better. They may pay, but then cancel your coverage after one claim or even raise the premium! I think you can get additional coverage added to the standard policy for things like this. |
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