Safeguarding our homes is essential since they are one of our most significant investments in Idaho Falls, ID. Home insurance policies cover multiple risks and potential damages, but what about high-value possessions that require additional protection? Insure It All explains additional home insurance coverage options for those valuable assets that may not be covered under standard policies. Whether it’s jewelry, art, or collectibles, it’s crucial to safeguard what matters most to you.
High-Value Items and Insurance Coverage
It’s important to know that standard homeowners’ policies have coverage limits for personal property, typically around 50% to 70% of the dwelling’s insured value. However, this coverage limit doesn’t always apply to high-value items like jewelry, artwork, or antiques. You’ll need additional coverage options if your property’s value exceeds the limit.
Scheduled Personal Property Coverage
Scheduled personal property coverage is an insurance add-on that covers specific high-value items listed on the policy. This type of coverage is ideal for expensive items like jewelry, fine art, and collectibles. In the event of a covered loss, the policyholder will be reimbursed for the amount specified in the policy.
An inventory of your valuable assets can help determine if you need additional coverage. It’s easy to underestimate the value of jewelry, art, and collectibles. The inventory should include item descriptions, purchase dates, and values. It’s also a good idea to take photos or videos of high-value items and store copies in a safe place.
Protecting your high-value items should be a priority for every homeowner. While standard homeowners’ policies provide coverage for personal property, they may not be enough for high-value items in Idaho Falls, ID. Call Insure It All today for additional coverage to safeguard your treasures.