Insuring Your Valuables
You may be surprised to learn that some items on your Arizona homeowners insurance policy have a coverage cap. That means should you have a claim the insurance company has a maximum they will pay out for certain losses.
Jewelry, for example, is often limited to a maximum of $1500 in the event of a loss. Do you own jewelry worth more than this basic limit? How do you cover your jewelry for more than this limit?
Simple, you obtain appraisals on your jewelry and submit copies of those to your agent or insurance carrier. They will (schedule) place coverage on your Arizona homeowners insurance policy to cover these specific jewelry items.
When you are insuring your valuables scheduling jewelry also may offer you a better coverage, called All-Risk. Sometimes scheduled jewelry also is not subject to a deductible.
There are other items you may need to add specific coverage for – collectibles, firearms, art work. Be sure to talk with your agent if you own valuables. There may be limits on electronics, such as computer items, as well.
Ask your agent to review your coverage and the items you own that may need to be scheduled or additional coverage added.
