Although homeowners insurance covers valuables in your home to some extent, it is not always enough. Owners of fine homes often need additional protection from lawsuits and added security for their valuables in the event of financial loss. Even the most detailed and comprehensive homeowners policy is still limited in its coverage for valuable article and collections, usually with a cap of $1,000 to $5,000.
Valuable Articles Coverage protects valuables that are generally left out in most homeowners insurance policies. It generally covers loss, theft, damage, breakage of fragile items, and newly acquired items. It also covers risks excluded from homeowners policies like “mysterious disappearance” or simple loss. Valuable articles insurance can insure your jewelry, fine art, antiques or collectibles.
Valuable articles insurance can insure your jewelry, fine art, antiques or collectibles such as:
- Expensive jewelry such as engagement rings and rings, earrings, necklaces, bracelets, and watches
- Classical paintings, contemporary art, antique furniture and oriental rugs
- Silverware, crystal, china, porcelain, and other precious metals
- Collectibles like stamps, coins, paper money and currency, sports memorabilia, model trains, comic books, furs, and wine
- Antique musical instruments or guns used solely for display
- Legally owned firearms, cases and accessories
- Electronic devices such as computers, TV’s, stereos, cameras, sound systems and sound equipment
- Musical instruments and accessories
- Sports equipment such as golf clubs and equipment
Contributor: Smruthi Sriram
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