A standard homeowner’s insurance policy may not provide adequate coverage for your treasured possessions.
In fact, homeowner’s insurance provides limited coverage for jewellery and similar items — just a few thousand dollars, typically — and that’s after you’ve covered your deductible.
Some other important factors to consider:
- Rings, necklaces, watches and other luxury goods are the items most frequently cited in claims.
- The value of gold and other precious metals has increased over the past 10 years. Even if your jewellery is insured, it may be undervalued.
- You should reappraise items every two to four years to ensure that your coverage is adequate and their fair market value is reflected when you need to file a claim.
We can help you determine the type of policy that is right for you, whether you schedule individual items or opt for blanket coverage.
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