You insure your home and vehicle because they are valuable. But those aren’t the only valuable items you own. What about the other many assets you own that are high-value items either in terms of monetary or sentimental value?
1 Jewelry
First, have the jewelry appraised and then add it to your policy or purchase a separate policy or rider. From the antique pocket watch your
engagement/wedding rings, jewelry is an important asset to include in your policy. Though your homeowner’s or renter’s insurance policy may already cover your jewelry, many policies have a limit well below the value of more expensive pieces.grandfather left for you, to your
We would suggest you first take your jewelry in to be appraised, then decide whether it is worthwhile to have it insured.
2 Computers & Electronics
Similar to your jewelry, some home electronics may already be included in your policy. It is up to you to decide if that coverage is enough, or if more needs to be added. Does your home have a home theatre? Chances are you will require added coverage for your high-end speakers, large-screen TV, screens, amplifiers, etc.
How many in your household have a laptop or computer? How about an extensive gaming system, multiple monitors, high-end digital stereo system, etc?
If the computers and electronics you wish to insure are used for business purposes, like a desktop computer for your home office, you should first check to see if your employer supplies some sort of coverage. If that coverage is not enough, or if you are self-employed, you need a policy that covers your business assets.
3 Artwork
If the artwork in your home stays on your wall, it may already be partially covered under your current policy. Similarly to jewelry however, you should have it appraised if you
In addition, if you ever showcase your artwork somewhere other than your home, a public liability policy will be required.suspect it’s of value. If you do find that it is worth more than your policy covers, you may want to pick up some additional coverage.
4 Tools/Equipment
Similarly to electronics, coverage of specialty tools and equipment varies between business or personal. Personal tools and equipment, such as power saws, lawn tractors, etc., may already be covered under your existing policy. However, if you own a lawn care or handyman business, and use those tools to work, look to your homeowner’s or renter’s policy for guidance or include the tools in your business insurance coverage if they’re stored at your home but primarily used for your business.
5 Collectibles
Collectibles can be things such as; rare & unopened action figures, fragile porcelain or even old vinyl records. If you are unable to obtain a fair appraisal for such items, you as the owner would decide how much you believe your collections are valued at, and how much you need to add to your policy to cover them. If you believe your collectibles are worth more than the coverage your home insurance policy offers for contents, you can opt to purchase additional coverage.
6 Pets
You think of your furry friend as a member of the family and not property, he or she could be part of your home insurance policy. Check with your policy to see its’ insurances related to pets include health and liability insurance. If not, you can acquire the coverage. Adding your pet to your policy will cover you for liability in the event that they bite someone, or for expenses if they become sick or injured. Also, did you know that, depending on the breed, your pet may be excluded from your homeowner’s policy?
If you would like to discuss your coverage options, please contact us today, we would be happy to help!
Senn Hometown Insurance Agency, Inc.
920-848-2341
