TMIB Blog

Diamond Ring

Are valuable items covered under my homeowner’s policy?

Probably not to the extent that you think.

Homeowner’s Insurance only covers valuable items up to a finite (and relatively low) amount. If you have valuable items such as jewelry, fine art, golf clubs, rare coins or even a wine collection, you might want to consider Valuable Items insurance to make sure these items are covered.

Call Tegner-Miller Insurance Brokers about purchasing a Valuable Items policy. We will discuss the options available to you, such as “scheduling” the items that you would like to cover. This “schedule” is essentially an inventory of all the valuable items you would like to cover under the policy. It will include a detailed description of the item, as well as an appraised value. The total value of your items will then be used to determine the premium on your policy. While you are compiling your schedule, you might want to consider taking a photo of each of the items you are listing. The photos can help you remember each item in your collection in the event of catastrophic damage or theft.

The information provided in our blogs are very brief overviews that do not provide complete descriptions of any coverage described nor do they list all of the important factors one should evaluate before deciding on a policy. Please speak to your broker at TMIB about your specific insurance needs and for more detailed information about types of coverage.