Supplement your existing insurance with Personal Articles Insurance to provide your cherished valuables with an extra layer of protection against theft or damage,due to natural disasters and accidents. Your grandmother’s diamond earrings, heirloom furniture or household items such as china and silver, fine art, and other objects of high monetary value may not be fully covered under your homeowners’ policy. The typical terms involved in the average homeowners’ insurance policy involve dollar amount limits as well as conditions concerning the kind of loss that can be recovered. For instance, dollar amount limits on jewelry is generally $1,000 on typical homeowners’ policies.
Examples of items that can be covered under a Personal Articles policy include:
- Expensive personal items such as jewelry and furs
- Heirloom furniture and other antiques
- Fine china, silverware, and crystal
- Personal computers and other electronics
- Musical instruments
- Sporting equipment, including firearms
- Fine art such as paintings, prints, scupture, and ceramics
- Rare books and manuscripts
- Camera and video equipment
This is just a partial list of items that may be covered under a Personal Articles policy. To obtain more information about whether other types of valuables currently in your home are covered, contact Brooks Insurance Group.
Benefits of Personal Articles Coverage
Personal Articles coverage provides enhanced protection for those items not fully covered under the average homeowner’s policy. Along with higher financial limits, Personal Articles coverage provides an overall broader base. For instance, you have the option of receiving coverage in the event that you or someone in your household accidently breaks a fragile item, and you can even get coverage if the item is simply lost. These provisions are unheard of in homeowners’ policies.
How to Begin
The first step in beginning Personal Articles coverage is to compile a comprehensive list of the valuables that you wish to have covered. The list should contain a detailed description of each item, and some items may require a relatively recent appraisal conducted by a qualified professional. Even though it is not a requirement of obtaining a policy, photographing each item and storing the photographs in a safe place is recommended.
The majority of new purchases are automatically covered under your Personal Articles insurance policy for up to 30 days. However, you will have to notify your agent for continuing coverage.
You’ll be compensated for any losses incurred while the policy is active in one of two ways: In the case of items such as personal computers, silverware, furs, and other things without a fixed monetary value, you’ll be compensated for either the cost of replacing or repairing the item or the applicable amount of insurance funds. Items with fixed monetary values such as heirloom painting may be compensated at appraisal value. In the instance of damage or loss concerning an item that is part of a set, you may be reimbursed for the entire amount of the set provided you turn the remaining item in to your insurance agent.
You may be required to have or install certain residential security measures such as monitoring systems and alarms in order to be eligible for a personal Articles policy.