Warning! Your Jewelry or Fine Arts May Not Be Properly Insured!

Category: Our Blog

With a typical home insurance policy, the major items in a home – for example appliances, furniture, and clothing – are covered if there is a loss. When it comes to your jewelry, antiques, and other valuable items there is some coverage, but most likely not enough to cover the cost of the item. To avoid this from happening, insurance companies offer additional coverage options such as scheduled property.

Scheduled property, also known as a personal items floater among other things, provides a greater range of coverage and is added to your primary homeowner’s policy. Adding scheduled property to your policy is additional premium, usually has no deductible, and it allows you to cover certain items for what they are worth. Each item must have an appraised value attached to it and most insurance companies will require proof of that appraisal. Examples of property that should be scheduled:

  • Diamond Ring
  • Piano
  • Guns
  • Coin collection
  • Fur Coat
  • Tools
  • Camera
  • Sports equipment
  • Silverware

Here are a few questions to ask your South Carolina Homeowners Insurance agent regarding your personal homeowners insurance:

  • How much coverage is included for artwork and antiques?
  • What does this cover? Does it cover natural disasters, fire, flood, earthquake, accidents, or theft?
  • Are there any exclusions?
  • Do I need to take out any additional insurance?
  • Do I need a special rider added to my policy?
  • Do you offer additional coverage?
  • Is there an extra deductible?
  • Does my homeowners insurance or my South Carolina Auto Insurance cover the transporting of my valuables? (It would have to be a special endorsement to your auto policy.)

If there is a possession of great value or extreme rarity in your home, additional coverage is necessary to provide both security for the item and peace of mind for you. Ask a knowledgeable Beacon Insurance Group agent about your coverage by calling 877-321-8037.

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