Accidents happen. Stones fall out of diamond rings. Antiques break. Art gets stolen. We’ll get you the protection you need for your most precious belongings in the event of loss through theft, accident, or natural disaster.
Most homeowners insurance or renters insurance policies have a limit on how much they will pay for any single item. While this is fine for most possessions, it can mean you won’t get the full amount for expensive items such as jewelry or artwork. That’s where valuable possessions insurance comes in.
In addition to providing adequate coverage, a valuable possessions insurance policy has other benefits. For example, you can get coverage based on the actual replacement value of the item that you are insuring rather than a generic market price. It’s well worth getting regular valuations and keeping your policy up-to-date to reflect these figures.
Valuable possessions policies may also have the option of covering accidental damage to expensive items like jewelry or artwork–something that isn’t always an option with homeowners insurance.
Another option worth considering with valuable possessions insurance is coverage that isn’t restricted to your home. For example, a homeowners policy often won’t cover loss or damage to jewelry that you wear out of the house–whether that’s a necklace on special occasions or an engagement ring you wear every day. Valuable possessions insurance policies will often have the option to cover such losses.
A homeowner’s insurance policy will often include “contents insurance.” It refers to the coverage provided for the contents in your home in case of theft or damage (such as a fire). This type of insurance covers items within the home, although the policy might not cover the actual value of the item.
“Personal possessions insurance” or “scheduled personal property coverage” can fill the gap of contents insurance. It provides coverage for valuable items that have been professionally appraised.
There are a few reasons why it is a good idea to make an inventory of your possessions:
Making an inventory of your possessions can only help. If you think you might need valuable possessions insurance, reach out to AZCAL Insurance Services to speak with a qualified insurance agent.
If you own any valuable possessions, such as an expensive engagement ring, antique collection, artwork, etc. then you should consider a valuable possessions insurance policy. You should not rely on your homeowner’s insurance policy to cover these items. In many cases, a homeowner’s insurance policy will make exclusions for valuable possessions, or it will only provide limited coverage.
Not sure if valuable possessions insurance is for you? Contact us and we will help you decide if this coverage is a good fit.
As an independent agency, we offer multiple options at competitive prices.