In the United States, a residential fire occurs approximately every 90 seconds.
What’s more, there are over two million burglaries committed every year, along with other forms of property theft.
Do you own fine jewelry, high end electronics, fine art, heirloom furniture, furs, or other items that may have a value that goes above and beyond your typical homeowners insurance or renters insurance coverage?
Then you want to make sure that those things – and all your other personal belongings – are protected in the case of theft or damage from a fire, storm, or other natural disaster.
You should be aware that your homeowners insurance policy might not cover everything.
This is where valuables insurance steps in.
Often, your homeowners or renters insurance policy doesn’t cover high value items, so you can purchase valuables insurance or extra riders on a per-item or a blanket basis.
What is Insurance for Valuables?
If you have valuable items such as fine jewelry, fine art, or electronics, then you need insurance to cover the costs if they are stolen or damaged, even if you have a homeowners policy in place already.
You’ll want to get any high value items you own appraised and their worth documented before you buy valuables insurance and as always, speak with your insurance agent before determining the total amount of coverage that you’ll need.
You should be aware that your homeowners insurance policy might not cover everything.
This is where valuables insurance steps in. Often, your homeowners or renters insurance policy doesn’t cover high value items, so you can purchase valuables insurance or extra riders on a per-item or a blanket basis.
People often get extra insurance for individual items like musical instruments, fine jewelry, firearms collections, fine art, antiques, heirlooms, sports equipment, or other valuable items that are appraised at over and above the standard insurance policy value.
Why Do You Need Valuables Insurance?
Do you own fine jewelry?
High end electronics?
Fine china?
A seriously high end wine collection?
Other types of expensive property that may not be covered under your typical homeowners insurance policy?
Then you need valuables insurance in order to protect your investments and your property.
How Do You Choose the Right Type of Valuables Insurance?
It all depends on the type of valuable items you possess.
If you own fine art, fine jewelry, or other collectibles, or if you have a personal wine cellar with high end wines, or any other possessions that might hold value above and beyond your standard homeowners insurance, then you should speak to an ASCO insurance agent in order to determine which items might require additional valuables insurance and how much extra coverage you need.
What Type(s) of Insurance for Valuables Do You Need?
Naturally, the type of insurance that you need for your valuables depends on the sort of valuables that you have.
Your insurance agent can definitely help you out when it comes to determining the type of insurance for valuables that you need.
Items like fine jewelry, furs, antiques, high end electronics, fine art, guns or firearms, golf equipment, musical instruments, and camera equipment need to be scheduled to cover their value in the case of theft, a fire, or other disaster.
What Other Types of Insurance Are Related to Valuables Insurance?
Homeowners or renters insurance form the basis for valuables insurance.
Generally you get homeowners or renters insurance first, and then get valuables insurance as an add-on for specific high value possessions.
Insurance for valuables is important because if you own fine jewelry, electronics, or other items, you’ll be covered in the case that they are lost, damaged, or stolen.
If the worst happens and your valuables are stolen or if they are damaged somehow, you’ll thank yourself for getting valuables insurance.
Speak to an ASCO Insurance agent for a tailored insurance for valuables policy.
