Make Sure Your Valuables Are Covered with Homeowners Insurance

You don’t have to be a millionaire to have high value assets. Perhaps you own fine jewelry, a grand piano or a prized collection? Your keepsakes with high monetary value — family heirlooms and other personal belongings — are important to you.

Owning expensive things can be enjoyable for you and your family but also carries some risk. To protect what you own, it is necessary to understand what coverage your homeowners insurance offers for your high value property.

Standard homeowners insurance often has limits on the amount of coverage available for valuable property. If you own things that would be expensive to replace, your homeowners insurance may not provide the full coverage you need to pay for costly replacement items. Limitations can apply to individual items and categories of items. When the value of a collection is high, additional high value assets insurance can be needed to adequately cover its worth.

How High Value Assets Insurance Can Benefit You

While standard homeowners insurance has limits on the amount of coverage available for individual

personal items, your policy can be tailored to cover your high value property. High value assets insurance can protect your valuable personal property in ways that standard homeowners insurance cannot. Coverage for high value assets can be provided for all risks, including breakage and theft.

It is important to understand the full value of items and protect what you own. High value assets insurance can be used to provide full coverage for a wide range of items, including:

·         Antiques

·         Artwork

·         Cameras

·         Collections: stamps, coins, wine, figurines

·         Electronics

·         Fine jewelry, watches

·         Firearms, guns

·         Furs

·         Golf equipment

·         Memorabilia

·         Musical instruments

·         Silver, silverware

Many people own valuable property and are unaware of just how much it is worth. Maybe you did not even purchase your keepsakes; they were inherited or given to you. Even if you purchased a valuable item, its value can fluctuate over time. A credible appraiser can be helpful. Although some cost is involved with a formal appraisal, this can be money well spent for any serious collector.