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VALUABLE ARTICLES:

Homeowner policies have limited protection for jewelry, watches, furs, silverware and collectibles. While most companies insure these items for fire and a limited amount theft, there is little to no coverage if lost or stolen. You can purchase a separate insurance policy and have your valuables insured without a deductible. A separate valuable articles policy will provide you with the broadest protection by either “scheduling” or purchasing a “blanket policy”.

You may be required to provide the company with an appraisal for the items you are insuring. This appraisal will help in itemizing the description of items on the policy and a prompt settlement of your claim. You should update your appraisals every two to four years. You should contact your agent with the updated appraisal information.

Protecting your valuables from loss is an affordable option for anyone with treasured belongings. Whether you need jewelry insurance or want insurance for multiple valuables, we offer plenty of options.

Below are highlights of scheduling your valuables with some of our top carriers:

Itemized coverage: This option allows you to determine the insured value of each of your possessions. In the event of a total covered loss of an item, you will receive 100% of the insured value. There is no deductible, no depreciation, no surprises.

Blanket coverage: If you have a number of pieces that represent a large total investment, but no single piece represents a substantial financial investment in and of itself, you can choose to purchase “Blanket” coverage for the total value of the collection. In the event you suffer a covered loss, the carrier will pay the value of each item up to its “blanket limit” or a per item limitation of $10,000 or $50,000 depending on the carrier.

150% replacement cost: We off valuable articles policy that provides safeguards for items that appreciate. If the market value (before the loss) of an item lost or damaged in a covered loss is greater than the itemized amount listed on the policy, we will pay the market value up to 150% of the itemized coverage amount for the item.

Breakage protection: Coverage for breakage or damage to fragile items is automatically included. This coverage is typically restricted or excluded in homeowners’ policies.

Coverage for “mysterious disappearance”: Many homeowners’ policies don’t cover valuable items that are lost or misplaced, especially when they disappear away from the home..

Worldwide coverage: Your valuables are automatically covered wherever you take them—anywhere in the world.

Hassle-free appraisal requirements: For most possessions, we simply need a description of the item and a value. We generally require an appraisal only for fine art worth more than $100,000 and jewelry worth more than $50,000.

Coverage for pairs and sets: If a piece of an itemized pair or set (like earrings or a set of silver) is lost or damaged in a covered loss, you have the option to provide us with the remaining piece(s), and you will receive the coverage amount for the entire set.

Cash settlement: Unlike other insurance companies, you are not required to replace itemized valuables in the event of a loss. You can choose cash settlement, or replace your valuables at the dealer of your choice. The decision is yours.

Coverage for newly acquired items: If you acquire a new item and already have similar articles insured with itemized coverage, your new item is automatically covered for 90 days for up to 25% of the total itemized coverage for those similar articles (maximum $50,000).

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