February 2017

Your Home Is Protected. But What About Your Valuables?

Don't leave anything up to chance


Homeowners' insurance policies typically have limitations on coverage for valuable items such as jewelry, fine art, furs, antiques, silverware and memorabilia. Many people discover critical coverage gaps in the most desperate of times—when they file a homeowners' insurance claim. USI Insurance Services offers the following tips to identify and prevent exposures that exceed the limits within your homeowners' policy for valuable items.

Itemizing vs. Blanketing

Compared to blanket coverage, which covers a group of items, scheduling involves creating a specific list or "schedule" of valuable articles and itemizing the replacement cost and description of each piece to be insured. This option allows policyholders to determine the value of each item and insure those items to the exact amount by segregating high-value items that exceed the homeowners' sub-limits while obtaining broad coverage with enhanced protection for those specific items.

Appraisals and Keeping Values Current

Insurance companies typically require appraisals to substantiate the value of an item and create a description of that item in the event of a loss. Additional protection for scheduled items is available in the form of a market value endorsement, which provides coverage if the market value raises the cost of replacement above the scheduled limit. Factoring in market conditions can be very critical with high- value pieces, such as precious stones, gold, or silver.

Best-in-Class Strategies for Valuables

Collectors and owners of valuable items should consider the following additional information concerning insuring valuables:


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